Category Archives: Compliance
SEC Issues Risk Alert on Strengthening Practices for Underwriting of Municipal Securities, and Investor Bulletin on Municipal Bonds
The Securities and Exchange Commission issued a Risk Alert this week on compliance measures to help broker-dealers fulfill their due-diligence duties when underwriting offerings of municipal securities. The agency also issued an Investor Bulletin to help educate investors about municipal … Continue reading
COMPLIANCE WATCH: Brokerage Still Sells Questioned REITs
By Suzanne Barlyn — A DOW JONES NEWSWIRES COLUMN , 6/9/2011 NEW YORK (Dow Jones)–When a regulator accuses a brokerage of improperly selling a product and questions the pricing of that product, you might think that regulator would order sales … Continue reading
FINRA Fines Southwest Securities, Inc. $650,000 for Compliance Failures That Permitted Correspondent Firm Cutler Securities to Cause a $6.3 Million Single-Day Loss Through Improper Short Sales
Yesterday, the Financial Industry Regulatory Authority (“FINRA”) announced that it fined Southwest Securities, Inc., of Dallas, $650,000 for deficiencies in due diligence, risk assessment and written supervisory procedures that permitted one of its correspondent firms, Cutler Securities, to create risk … Continue reading