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FINRA Adds Continuing Membership Application Requirement to Address Brokers With a History of Misconduct | Goodwin jdsupra.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jdsupra.com Daily Mail and Mail on Sunday newspapers.
With the Jersey Financial Services Commission (JFSC) taking – and wanting to be seen to be taking – an increasingly robust approach with regulated firms, it is only natural for firms to ask what they can do to avoid a referral to the JFSC s Enforcement division and, if they are referred, what steps they can take to manage the risk of formal sanction. Avoiding a referral to Enforcement On a positive note, there are a number of steps that firms can take now to minimise the prospects of a referral to Enforcement. First, firms should review (and if necessary enhance) their compliance resource as a matter of priority. The JFSC has made clear (from its Compliance Monitoring guidance in 2013 through to its most recent public statements and civil penalties) that firms must have a compliance function that is adequately resourced. Importantly, this requires an assessment of both the quantity and quality of that resource. Further, firms must prepare and implement an effective ....
KUALA LUMPUR (March 4): Bursa Malaysia Securities Bhd (Bursa Malaysia) has publicly reprimanded Mohd Ikmal Zulkifli and ordered him to be struck off its register for carrying out trades in the accounts of two clients without their permission. Ikmal, who was attached to RHB Investment Bank Bhd’s Pandan Indah branch office here at the time of committing the offence, was also fined RM28,500. In a statement today, the local bourse operator said Ikmal had misused Client A’s account to carry out his own trading activities of share speculation on numerous trading days. Over a period of two months, he misused Client B’s account to carry out trades based on his own discretion without Client B’s knowledge and consent; the shares were then force sold. ....
Bursa Malaysia reprimands, fines and strikes dealer rep off register for abusing clients' accounts msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Thursday, February 18, 2021 On Feb. 1, 2021, the Financial Regulatory Authority (FINRA) released its 2021 Report on FINRA’s Examination and Risk Monitoring Program (Report), in which it identifies its areas of examination focus for FINRA member firms (Firms) in 2021. The Report replaces the prior format for examination focus, the Risk Monitoring and Examination Program Priorities Letter. In the introduction to the Report, FINRA acknowledges the ongoing COVID-19 pandemic, its regulatory notice in response, and the challenges Firms have faced in response. The report stresses, however, that while FINRA has been in contact with firms throughout the pandemic, it is not ready to address any specific COVID-19-related issues and that such issues will be covered in a future publication. ....