FINRA Hits SageTrader with New $100k Fine for AML Failure
The Financial Industry Regulatory Authority (FINRA) has hit California-based securities broker, SageTrader, with a censure order and fine of $100,000 for failing to establish and implement anti-money laundering (AML Anti-Money Laundering (AML) Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised […]
FINRA Slams $475K Fine on UBS Securities—Second in 4 Months
The Financial Industry Regulatory Authority (FINRA) has slammed another fine on New York-based securities broker, UBS Securities (UBS-S). This time the self-regulatory organization hit the firm, which is the brokerage arm of Swiss banking group, UBS, with a censure order and fine of $475,000 for publishing “inaccurate” monthly statistics on execution Execution Execution is the […]
FINRA’s Head of Enforcement, Jessica Hopper, to Exit after 18 Years
Jessica Hoppers, the Head of Enforcement of the Financial Industry Regulatory Authority (FINRA), a non-profit body that regulates brokerages that serve the American public, is set to depart from the organization on February 3 after 18 years of service. The self-regulatory organization (SRO) announced Hopper’s planned exit on Tuesday. FINRA also disclosed that Christopher Kelly, […]
FINRA Fines Nomura Securites $125k for Miscalculating Its Net Capital
The Financial Industry Regulatory Authority (FINRA) has hit Nomura Securities International, an institutional brokerage firm, with a censure and fine of $125,000 for allegedly inaccurately calculating its net capital between July 2019 and March 2021 and violating other four rules as a result. AloGatewayis a Global payment processing service and solutions provider able to cater […]