FINRA

The Municipal Securities Rulemaking Board will meet Oct. 25-26 to hold its first meeting of FY 2024.

Volatility in fixed income prices, which has risen recently, should not be mistaken for a systemic flaw in market structure or be used as a "strawman" to fix the plumbing and functioning of these markets.

FINRA has charged Crews and Associates $50,000 and its former head trader and CEO $30,000 for selling municipal bonds with markups and for failing to maintain a supervisory system.

Comments for the proposal are in and many urge the Commission to drop the proposal it due to the overlap of existing MSRB and FINRA rules.

But the Securities and Exchange Commission's best-execution proposal, largely dismissed as duplicating an existing Financial Industry Regulatory Authority edict, could have wide-ranging implications for trading firms in options, bonds, and crypto securities as well as equities.

Thirty brokerage firms overcharged for the Santa Rosa bridge bonds after relying on data vendors who provided incorrect factors to determine the price.

FINRA fined Quint Capital Corporation $35,000 and its founder Alexander Quint $10,000 over their role in allowing a broker banned by the SEC and FINRA to work for the firm.

The Financial Industry Regulatory Authority found that BNA Wealth didn't meet the regulatory requirements when it sold shares in 529 plans.

The three firms were ordered to pay $515,000 in restitution, but were spared any additional financial penalty.

The MSRB's CEO sat down to discuss regulatory developments in 2023, the board's efforts on technology and other topics.

Without admitting or denying the findings, Blaylock Van consented to FINRA's findings that it failed to establish and maintain written supervisory procedures.

FINRA accused the firm of negligently misrepresenting monthly account statements.

The MSRB will seek comment on Rule G-3 on professional qualifications that would add an exemption for muni advisors having to requalify in instances where their qualification had lapsed.

FINRA and MSRB actions are drawing broker-dealer firms to lobbying groups.

Broker and investment advisor Wayne von Borstel has been suspended by FINRA for 15 business days for violating MSRB Rule G-8 on recordkeeping

Most municipal securities trades are reported to the MSRB well under the current 15-minute rule, and it's unclear how a one-minute mandate would "benefit investors or increase transparency," the ASA said.

The Securities and Exchange Commission has sustained the Financial Industry Regulatory Authority’s disciplinary action against J.W. Korth & Company.

The 70-page report homed in on some muni-specific risks uncovered during examinations.

FINRA found that Michael Mancinelli improperly exercised discretion and caused his firm to have inaccurate books and records.

Some firms are voluntarily self-reporting potential supervisory and suitability rule violations.