FINRA

Missing minimum denomination and interest rate information for VRDOs affected about 57 CUSIPs, FINRA found.

Regulators found Stifel effected 56 pairs of pre-arranged transactions and the firm did not have a supervisory system reasonably designed to catch that activity.

The pandemic presents new challenges to regulators examining municipal advisor firms.

Hilltop was fined a total of $475,000, with $100,000 pertaining to violations of municipal securities rules.

BNY Mellon Capital Markets failed to submit accurate minimum denomination and maximum interest rate information 54,270 times, FINRA found.

BB&T failed to submit accurate minimum denomination and maximum interest rates to the MSRB’s Short-Term Obligation Rate Transparency (SHORT) System in 3,710 instances, FINRA found.

Charles Doraine settled with the Financial Industry Regulatory Authority on Monday without admitting or denying FINRA’s findings.

Morgan Stanley, Ameritas Investment Company LLC and a former Stifel broker agreed this week to pay the fines for violating multiple muni securities rules.

First Manhattan Co. bought municipal securities from an unaffiliated dealer without making a reasonable effort to obtain fair and reasonable prices, FINRA said.

The investigation had appeared likely to be tied to a fraud case involving the New York State Common Retirement Fund.