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FINRA releases 2024 Industry Snapshot as enforcement decline prompts criticism
2023: Slightly more representatives and much fewer enforcement actions.
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FINRA appoints two senior vice presidents of enforcement
New roles at the agency show an emphasis on enforcement resources and skill sets.
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FINRA sanctions PFS Investments for failure to obtain written notice of outside business activity
Action arises from an anonymous complaint about the OBA’s advertising.
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Social media influencer program leads to $850k fine by FINRA
Posts by finfluencers paid for by the firm were not balanced and potentially misleading, but resulted in thousands of new accounts being opened.
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Coming soon: FINRA’s residential supervisory location rule change
New non-branch location will be subject to more stringent conditions and safeguards to ensure adequate continuing investor protection.
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FINRA seeks to tighten rules on loans between brokers and clients
Move seeks to further restrict a broker’s ability to borrow from or lend money to clients under FINRA rules.
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SIFMA issues State of the Industry Briefing, FINRA recaps on Reg BI
Trade association assesses market trends while regulator pulls together guidance on Reg BI.
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FINRA moves to harmonize rules for investment performance data
A targeted exception attempts to improve clarity and reduce regulatory friction and confusion without diluting investor protection.