Broker dealers

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

Responses to an MSRB request for comment indicated broad support for an option designed to modernize delivery of municipal fund securities disclosure documents, but there was less unanimity regarding the need for a stand-alone time of trade disclosure rule.

It is sadly not possible to prevent 100% fraud scenarios from occurring; however, reassessing your firm's processes for identifying red flags may be a good place to start.  

The judge cited "substantial evidence" for charges of collusion among the banks to fix interest rates on millions of variable-rate demand bonds.

As an alleged fraud scheme puts a spotlight on due diligence, some say it may be time to rethink practices in that area amid the rise of AI.

If the MSRB pursues a pre-trade transparency initiative—though its necessity is debatable given the private sector has already addressed this need—it should leverage existing tools and services used by market participants.

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

The American Securities Association's federal appeals court case regarding an SEC order has been stayed until Aug. 13.

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

Mesirow's George Barbar said the group's top legislative focus is preserving the municipal bond tax exemption.