Latest Finra (Financial Industry Regulatory Authority) News: Finextra Research

SoFi fined $1.1 million over flawed ID programme that led to multi-million dollar fraud

SoFi's self-directed retail brokerage unit has been fined $1.1 million by financial regulator Finra over ID verification failures that enabled thieves to steal $8.1 million from the accounts of customers at other financial institutions.

08 May 2024

/regulation

Robinhood to pay $70m in Finra settlement

The Financial Industry Regulatory Authority (Finra) has fined Robinhood $57 million and ordered the trading app to pay approximately $12.6 million in restitution, plus interest, to thousands of "harmed customers".

30 June 2021

/regulation

Regulators make inquiries over Robinhood trading restrictions

US regulators have made inquiries to Robinhood about the trading restrictions the app put on stocks such as GameStop during the Reddit-led rallies earlier this year.

26 February 2021

/regulation

US reports record surge in electronic trading data

Greater use of electronic trading and market volatility saw a record surge in trading data reported by the US capital markets watchdog in 2018, raising questions about regulators' ability to successfully and safely monitor markets.

05 February 2019

/regulation

Exchanges to fire builder of massive audit trail - WSJ

A group of US stock exchanges is set to fire Thesys Technologies, the startup it hired in 2017 to build a vast Consolidated Audit Trail (CAT) tracking transactions as they pass through US equity and options markets, according to the Wall Street Journal.

01 February 2019

/regulation

Circle looks to become licensed bank; Coinbase acquires broker-dealer

Cryptocurrency platform Circle Internet Financial is bidding to enter the Wall Street mainstream, seeking a federal banking license and SEC registration as a brokerage and trading venue.

06 June 2018

/regulation

Finra to set up fintech industry committee

US regulatory body Finra has established an Innovation Outreach initiative to co-ordinate its ongoing research into fintech trends, beginning with a blockchain symposium in New York.

14 June 2017

/regulation

Finra paper explores implications of blockchain for securities industry

Finra (the Financial Industry Regulatory Authority) has become the latest organisation to give its two cents on distributed ledger technology, publishing a paper on blockchain's implications for the securities industry.

19 January 2017

/regulation

Finra fines Deutsche Bank for 'Squawk Box' failures

Deutsche Bank has been slapped with a $12.5 million fine for failing to prevent the dissemination of confidential information over its 'squawk box' internal speaker system.

08 August 2016

/regulation

Finra takes a closer look at robo-advisors

US regulatory body Finra (Financial Industry Regulatory Authority) has waded into the growing market for robo-advisory services, warning firms of the need for sound governance and supervision of digital investment tools.

15 March 2016

/retail

Finra warns on use of WhatsApp for pump-and-dump scams

The Financial Industry Regulatory Authority (Finra) is warning investors about a surge in the use of messaging tools like WhatsApp by pump-and-dump scammers.

02 September 2015

/regulation

Finra backtracks as opposition to Cards projects mounts

In the face of fierce opposition from industry bodies, Wall Street watchdog Finra appears to be backtracking on proposals to introduce an automated data collection system designed to help identify risky and suspicious activities.

06 May 2015

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