Despite opposition from some key Democrats, the U.S. Senate voted on Tuesday to confirm Walter J. “Jay” Clayton III, a former partner with the law firm Sullivan & Cromwell, as the next chairman of the SEC, succeeding Mary Jo White. White served as chair from April 2013 to January 20, 2017 when Donald Trump became… Read More >>
FINRA Fines Broker $2.8M for Audit Trail Violations
Broker-dealer Merrill Lynch, Pierce, Fenner and Smith (MLPF&S) will be paying a $2.8 million fine to the self-regulatory organization, the Financial Industry Regulatory Authority (FINRA), for a variety of alleged reporting violations over several years that the firm acknowledges it is addressing. FINRA officials say they are citing MLPF&S for systemic trade reporting problems, including… Read More >>