FINRA Lawyer Blog




FINRA Investigation Defenses, Process & Rule 8210 Realities

FINRA Investigation Defenses, Process & Rule 8210 Realities

With the increase in FINRA enforcement activity in the last year, we hear daily from concerned RAs and other financial industry professionals – this post is intended to decode the basics of the process and offer some cautions to avoid pitfalls awaiting the unwary.
1. How can you become...

LPL’s Bonds Learns 3240 No Borrowing From Customers Lesson

LPL’s Bonds Learns 3240 No Borrowing From Customers Lesson

FINRA’s Department of Enforcement recently made public a Letter of Acceptance, Waiver and Consent (AWC) by which former LPL broker Mark Tyler Bonds agreed to a one month suspension and a $5,000 fine to resolve allegations that he borrowed money from a customer of his firm, in violation of...

Barclays Reaches $97 Million Settlement with SEC

Barclays Reaches $97 Million Settlement with SEC

Barclays Capital has reached a $97 million settlement with the Securities and Exchange Commission to resolve allegations that its Wealth and Investment Management Americas (WIMA) unit overcharged clients by $50 million between 2010 and 2015.
The SEC’s investigation determined that...

FINRA Settles Complaint Over Undisclosed Tax Liens Over $1 MIllion

FINRA Settles Complaint Over Undisclosed Tax Liens Over $1 MIllion

Kevin Richard Graetz, a former broker from New York, recently settled a FINRA complaint relating to his alleged failure to report $1 Million in tax liens over the course of seven years.
FINRA requires registered personnel to disclose tax liens and any other unsatisfied judgments in their Form...


FINRA’s Revised Sanction Guidelines

FINRA’s Revised Sanction Guidelines

Last April, FINRA announced that it had revised the sanction guidelines that apply when there has been a violation of a FINRA rule. Professionals in the industry whose activities are regulated by FINRA need to be aware of the scope and impact of these changes.
The Sanction Guidelines do not...


FINRA Fines TD Bank Unit over Failure to Review Emails

FINRA Fines TD Bank Unit over Failure to Review Emails

A unit of TD Bank, a US subsidiary of Canada’s Toronto-Dominion Bank, has agreed to pay a $125,000 fine to resolve allegations that it failed to record the required review of 3.1 million emails.
FINRA requires that all securities-related correspondence between registered representatives...