FINRA

Little Rock, Arkansas-based Stephens Inc. consented to FINRA's findings without admitting or denying them.

The $137,500 fine for allegedly violating MSRB Rule G-27 was part of a $275,000 total fine imposed.

Ninety percent of FINRA's operating expenses are driven by compensation and technology costs.

The $28,800 fine pertaining to violations of Municipal Securities Rulemaking Board rules was part of a $75,000 total fine imposed by FINRA.

First Southern LLC failed to timely and accurately report on trades executed for an affiliated hedge fund, FINRA said.

SROs "are now being guided by individuals who lack a deep real-world understanding of the markets they oversee," the trade association said in a letter to the House Financial Services Committee.

"We supported the approved rule change and are extremely disappointed that the MSRB is now proposing to halt the progress it had been making toward full and complete transparency in the municipal securities market," Dimensional Fund Advisors officials said in a letter.

Isaak Bond Investments has agreed to pay a $20,000 fine to settle allegations brought by the Financial Industry Regulatory Authority.

The action stems from conduct that occurred from 2020-2023, FINRA alleged.

The MSRB's decision to rescind the one-minute trade reporting deadline "comes after months of dialogue and engagement with market participants," MSRB President and CEO Mark Kim said.

"It is FINRA's position that, for multiple reasons discussed in its brief opposing Alpine's petition for writ of certiorari, the case did not meet the Supreme Court's standards for review," FINRA said.

The fine for violating MSRB rules was imposed as part of a wider FINRA disciplinary action that saw brokerage firm Calton & Associates fined a total of $75,000.

Siebert Williams Shank & Co has been censured and fined $55,000 by the Financial Industry Regulatory Authority for rule violations including reporting inaccurate trade times for roughly 12,100 municipal securities transactions.

Since the attack, many in the industry have had conversations about how to better secure transfer of funds, Vivian Altman said.

"FINRA has drifted far from its intended purpose," Rep. Lisa McClain said.

FINRA fined three individuals a total of $40,000, a settlement document shows

United First Partners was fined for reporting and supervisory rule violations as part of a wider FINRA disciplinary action involving the firm.

NewEdge Securities was also ordered to pay disgorgement of $750,746 plus interest.

Court challenges to self-regulatory organizations may have the potential to trigger a financial crisis, a law professor warns.

The MSRB said its board at a previously scheduled meeting Thursday authorized the filing of further amendments to Rule G-14 .