FINRA disciplinary action update 2024/21

Disciplinary decisions issued May 25 – 31, 2024.

BofA Securities censured and fined for allegedly failing to submit timely and accurate Regulation M-related notifications

The inaccurate restricted period notifications included shortcomings in connection with distribution participants.

The firm’s supervisory systems and procedures, including the WSPs were not reasonably designed to ensure compliance with restricted period notification compliance requirements.

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