Tag Archives: FINRA

Your Daily Dose of Financial News

BY: Michael D. Reif | December 21, 2018

I wish I had some better news for you heading into Christmas, but Wall Street was not in the holiday spirit, with all major indices diving another 2% or so on Thursday – WSJ and Bloomberg and MarketWatch Streetwise helps put the last couple of weeks in perspective for us – WSJ Regardless of how … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | September 12, 2018

The SEC has taken its first enforcement action against a hedge fund over its cryptocurrency investments—namely, falsely holding itself out as the “first regulated fund in the U.S. focused on crypto assets.” It also targeted a pair running what they claimed was an “ICO superstore” – WSJ and Bloomberg and Law360 Not to be outdone, … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | February 15, 2018

Here’s a deeper dive into the consumer price index data released yesterday morning – Reuters and WSJ and Bloomberg And some thoughts on inflation and how it affects everything from building materials to chicken – NYTimes and Marketplace In our increasingly connected global economy, a $1.8 billion dollar fraud at India’s Punjab National Bank can’t … Continue reading

Top FINRA Priorities for 2017

BY: Stacey P. Slaughter | January 9, 2017

On January 4, FINRA released its Annual Regulatory and Examination Priorities Letter, which outlines the areas it plans to review over the coming year.  FINRA President and CEO, Robert Cook, says that attention to these core regulatory requirements will “serve investors and markets well.” The first focus area for FINRA will be high-risk and recidivist … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | December 1, 2016

After a few false starts, OPEC has reportedly reached a deal to limit oil production by about 4.5 percent beginning in early 2017.  The news sent oil prices way up, though there’s no telling whether that will last – NYTimes and WSJ Even as auto lending continues at near break-neck pace, regulators are expressing concerns … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | November 3, 2016

Soooooo . . . about that whole Brexit thing.  A UK High Court has ruled that Britain’s EU withdrawal cannot move forward without the approval of Parliament, setting off more uncertainty and what’s expected to be a series of legal appeals – NYTimes The Fed stood pat on rates yesterday, but it laid additional groundwork … Continue reading

Your daily dose of financial news

BY: Michael D. Reif | September 19, 2016

We’re getting more details from the trenches at Wells Fargo, where execs warned workers against creating sham accounts back in 2014 but apparently had trouble seeing that message through to practice – NYTimes and WSJ Meanwhile, William Cohan’s looking at the sheer size of the scandal [5300 employees and managers fired] and thinks that Wells … Continue reading

Your daily dose of financial news

BY: Michael D. Reif | June 6, 2016

Some thoughts about why the relatively dismal May employment numbers (just 38k jobs added) isn’t really as bad as it would seem on first glance – NYTimes and Marketplace Whatever the explanation, the numbers were likely enough to put off the Fed from a once-increasingly on-the-table June rate hike – NYTimes and WSJ and Bloomberg … Continue reading

Your daily dose of financial news

BY: Michael D. Reif | February 24, 2016

Wall Street’s internal watchdog, the Financial Industry Regulatory Authority (or Finra), is stepping back to take a whole-forest look at the “cultural values at more than a dozen brokerage firms,” in an effort to “understand how [they] affect[] compliance and risk management practices at firms” – NYTimes Word leaked this week that Time, Inc. is … Continue reading

Your daily dose of financial news

BY: Michael D. Reif | February 19, 2016

Barclays has agreed to pay $50 million to settle claims by Plaintiff Axiom Investment Advisors that it “misused a system intended to block stale foreign exchange prices as a way to boost the bank’s profits while hurting clients.” Barclays has also agreed to provide information that Axiom believes will help it pursue similar claims against … Continue reading