Regulatory

FINRA fines Citigroup Global Markets for best-execution violations

FINRA has fined Citigroup Global Markets Inc. $1.85 million for failing to provide best execution in approximately 22,000 customer transactions involving non-convertible preferred securities, and for related supervisory deficiencies for more than three years. FINRA also ordered Citigroup to pay more than $638,000 in restitution, plus interest, to affected customers.

By Staff |August 26, 2014

2 min read

OSC funds FAIR with sanctions and settlement cash

The OSC will allocate $2.5 million in monetary sanctions and settlements to the Canadian Foundation for Advancement of Investor Rights (FAIR Canada).

By Staff |August 21, 2014

2 min read

Bank of America admits disclosure failures to settle SEC charges

Bank of America's purchase of Countrywide Financial has cost it tens of billions of dollars over the past six years. An expected $17 billion settlement with the Justice Department will increase that toll, but not by a full $17 billion.

By Staff |August 21, 2014

3 min read

Update on global regulatory initiatives

IIAC president and CEO Ian Russell’s latest industry letter addresses current priorities of global regulators, including cross-border rules harmonization, corporate governance shortcomings, and the role of regulators in enhancing ethical standards.

By Staff |August 14, 2014

1 min read