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What to Know About New FINRA Sanction Guidelines
Author: Paul A. LiebermanDate: June 11, 2018
On May 2, 2018, The Financial Industry Regulatory Authority (FINRA) announced revisions to its Sanction Guidelines to reflect changes to General Principle No. 2. FINRA now advises that when the current violation and a respondent’s disciplinary history, including a history of arbitration awards and arbitration settlements, form a pattern, adjudicators should consider imposing more stringent sanctions.
According to FINRA, “These Sanction Guidelines revisions allow adjudicators to consider more completely a respondent’s interactions with customers and regulators. Adjudicators will no longer be limited from considering what, in some cases, could be an extensive series of arbitration awards and arbitration settlements that share similarities with the violations found in a disciplinary case.” The changes will impact disciplinary complaints filed on or after June 1, 2018. See FINRA Regulatory Notice 18-17 and FINRA FAQ.
Mickelson Case Reflects Insider Trading in the Wake of Newman
What does the Mickelson case reveal about insider trading? Professional golfer Phil Mickelson was recently named in an insider trading case...
New Rules To Facilitate Intrastate and Regional Securities Offerings
Securities and Exchange Commission Seeks to Facilitate Intrastate and Regional Securities Offerings When the Securities and Exchange Commission (SEC) announced...
Annual Whistleblower Report Issued By The SEC
Here are the top trends to watch from the Securities and Exchange Commission annual whistleblower report The Securities and Exchange...
Ban Class-Action Waivers in Consumer Financial Products
The Consumer Financial Protection Bureau (CFPB) is moving forward on plans to ban companies from including arbitration clauses that block...
SEC Proposes Changes to Administrative Proceedings
October 21, 2015
After coming under fire for using the forum to secure an unfair home court advantage After coming under fire for...
Do Supreme Court Decisions Influence the Securities Market?
September 15, 2015
Can U.S. Supreme Court decisions influence the Securities Market? The impact of U.S. Supreme Court decisions is often far-reaching. However,...
“Finders” Acting As a Securities Broker-Dealer Are on the SEC’s Hit List
September 11, 2015
The Securities and Exchange Commission has been moving more aggressively to state the types of activities that will result in...
SEC Clarifies Whistleblower Provisions
August 19, 2015
The Securities and Exchange Commission (SEC) recently published guidance that clarifies who qualifies as a whistleblower under the Dodd-Frank Act....
Chamber of Commerce Calls for SEC Enforcement Reforms
August 10, 2015
In a recently published report, the U.S. Chamber of Commerce called for several significant changes to the Securities and Exchange...