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FINRA Reports Disciplinary Actions Against 10 Firms, 47 Individuals
August 15, 2018
by Howard Haykin
In Disciplinary and Other FINRA Actions for August 2018, FINRA reported 10 cases (AWC's) involving member firms and 47 cases involving associated persons. Financialish will analyze some of the cases in upcoming posts.
INDIVIDUALS' CASES. Fines for cases involving individuals ranged from $5K to $75K, restitutions ranged up to $350K, and suspensions ranged up to 12 months. Twelve individuals were barred for refusing/failing to cooperate with FINRA investigations.
Among the topics covered in these cases are, the following:
- Supervision: AWC #2016049321301; AWC #2016047619003; AWC#2017052426201.
- Conversion of Customer Funds: AWC #2017055975701; AWC #2018058354101; AWC #2017055328401; AWC #2016051547601 .
- Willful Failure to Update Form U4): AWC #2016052354001; AWC #2014043001601.
- Churning/Excessive Trading: AWC #2012030564701.
- Violations by FinOps: AWC #2015048047103; AWC#.
For details on any of these cases:
- Go to FINRA Disciplinary Actions Online, and refer to the Respective Case (AWC) Number.
- Go to August Disciplinary Actions, and refer to the Respective Case Number.
