Category Archives: Uncategorized
COMPLIANCE WATCH: Brokerage Still Sells Questioned REITs
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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
Posted in Compliance, Enforcement, FINRA, Supervision, Uncategorized
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