The Compliance Digest

Get expert compliance tips and up-to-date regulatory news.

CCO Barred for Soliciting Backdated OBAs & PSTs

The sanction was based on findings that the CCO directed a registered representative of his member firm to solicit backdated outside business activity and private securities transaction forms and then submitted the forms to FINRA examiners without disclosing the backdating of the forms. Read More

[Slideshow] FINRA Releases First Ever Exam Findings

Last Wednesday, FINRA released its first ever examination findings report, which summarizes common risks unveiled during broker-dealer audits. Read More

CCO Fined for Incorrectly Labeling OBA

A CCO from Farmington Hills, Michigan was fined $10,000 and suspended from association with any FINRA member in any principal capacity for one month due to the entry of findings that he approved a firm representative’s participation in a private offering as an outside business activity, rather than as a private securities transaction, which was contrary not only to NASD and FINRA rules, but also to the firm’s WSPs.

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