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FINRA Monthly Disciplinary Actions September 2018

Posted on September 18, 2018 at 8:35 AM

FINRA published its monthly report on disciplinary actions against firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).

Highlights include:

  • The Leaders Group, Inc. (CRD #37157, Littleton, Colorado) July 2, 2018 – An AWC was issued in which the firm was censured, fined $95,000 and required to submit to FINRA a written plan of how the firm will u...
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SEC Actions for September 14, 2018

Posted on September 17, 2018 at 10:05 AM

The Securities and Exchange Commission (SEC) news for 09/14/2018 includes the following appointments and actions:

• SEC Charges Investment Advisers with Defrauding Retail Advisory Clients

o The SEC charged an Indianapolis-based investment advisory firm and its sole owner with selling approximately $13 million of high-risk securities to more than 120 advisory clients – many of whom are current or former teachers or other workers in public education – without disc...

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SEC Actions for September 12-13, 2018

Posted on September 14, 2018 at 9:30 AM

The Securities and Exchange Commission (SEC) news for 09/12-13/2018 includes the following appointments and actions:

United Technologies Charged with Violating FCPA

• The SEC announced that Connecticut-based United Technologies Corporation will pay $13.9 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) by making illicit payments in its elevator and aircraft engine businesses.

• According to the SEC’s order, United...

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SEC Actions for September 11, 2018

Posted on September 13, 2018 at 12:30 AM

The Securities and Exchange Commission (SEC) news for 09/11/2018 includes the following appointments and actions:

• Elad Roisman Sworn In As SEC Commissioner - Sept. 11, 2018

o Elad L. Roisman has been sworn into office as an SEC Commissioner by SEC Chairman Jay Clayton.

o Mr. Roisman was nominated to the SEC by President Donald J. Trump and his nomination was confirmed by the U.S. Senate on September 5.

o Read More: https/www.sec.gov/news/press-release/20...

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Interagency Statement Clarifying the Role of Supervisory Guidance

Posted on September 12, 2018 at 1:30 PM

The Federal Reserve Board, the Consumer Financial Protection Bureau, the FDIC, the National Credit Union Administration and the Office of the Comptroller of the Currency released a joint statement below advising organizations that they will not take enforcement action based on supervisory guidance as such guidance does not "have the force and effect of law." In the statement, the regulators clarified that the role of supervisory guidance is to outline supervisory expectations or priorities an...

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DOJ Enforcement Actions - Week of September 3rd

Posted on September 9, 2018 at 3:35 PM
The Department of Justice enforcement actions and other matters for the week of September 3rd: Statement by Attorney General Sessions on Chinese Narcotics Scheduling Friday, September 7, 2018 South Florida Pharmacist Convicted of Health Care Fraud for Role in $5 Million Compounding Pharmacy Scheme Friday, September 7, 2018 Maryland MS-13 Program Leader Pleads Guilty in Federal Court to a Violent Racketeering Conspiracy, Including Attempted Murder Friday, September 7, 2018 Florida Escor... Read Full Post »

Agencies Extend Comment Period for Proposed Rule Simplifying and Tailoring the "Volcker Rule"

Posted on September 4, 2018 at 10:30 AM

Five federal financial regulatory agencies on Tuesday extended until Oct. 17, 2018, the comment period for a proposed rule to simplify and tailor compliance requirements for the “Volcker rule.” The Volcker rule generally restricts banking entities from engaging in proprietary trading and from owning or controlling hedge funds or private equity funds.

With the extension, the Federal Reserve Board, the Commodity Futures Trading Commission, the Federal Deposit Insurance Corpora...

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DOJ Enforcement Actions - Week of August 27th

Posted on September 4, 2018 at 10:25 AM

The Department of Justice (DOJ) enforcement actions and other matters for the week of 08/27/18:

Over 20 MS-13 Gang Members Arrested in California for Assault and Drug Trafficking

Friday, August 31, 2018

Two Indicted for Making Corporate Contributions to U.S. Senate Campaign

Friday, August 31, 2018

New Jersey Man Indicted for Promoting Tax Fraud Scheme

Friday, August 31, 2018

Assistant Attorney General Makan Delrahim Delivers Remarks at Notre Dame L...

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Revised FINRA Transaction Fee Transfer Agreement

Posted on August 27, 2018 at 7:50 AM

FINRA has revised the FINRA Transaction Fee Transfer Agreement to clarify the intended scope of paragraph 2b. The FINRA Transaction Fee Transfer Agreement applies to FINRA members and their respective clearing firms that choose to utilize FINRA Trade Reporting Facilities – the Alternative Display Facility (ADF), the FINRA/Nasdaq TRF, the FINRA/NYSE TRF, or the OTC Reporting Facility (ORF) - to transfer a transaction fee on trades between FINRA members reported to one of the Facilities, ...

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DOJ Enforcement Actions - Week of August 20th

Posted on August 23, 2018 at 9:10 AM

The Department of Justice enforcement actions and news for the week:

Justice News

Las Vegas Man Convicted In Conspiracy to Commit Mail and Wire Fraud Case

Wednesday, August 22, 2018

Justice Department Secures Denaturalization of Convicted War Criminal Who Fraudulently Obtained Refugee Status and U.S. Citizenship

Wednesday, August 22, 2018

Justice Department Takes First-of-its-Kind-Legal Action to Reduce Opioid Over-Prescription

Wednesday, August 22...

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