AgentSync’s Post

🔔 **Industry Alert: Crown Capital Securities Fined by FINRA for Supervisory Failures** In a significant regulatory update, Crown Capital Securities L.P., a well-established brokerage firm based in Orange, California, has been penalized by the Financial Industry Regulatory Authority (FINRA). According to the recent findings: 🛑 **Sanctions Imposed**: FINRA has imposed a fine of $50,000 on Crown Capital, coupled with an order to return $116,390.58 to customers who were negatively impacted. 📉 **Background**: This action comes after an investigation into the firm, which has been a member of FINRA since 1972, revealed serious supervisory failures. 🔍 **Impact on Industry**: This development underscores the critical importance of robust supervisory and compliance systems within financial services firms. The regulatory landscape is intensifying its focus on consumer protection and compliance adherence. 🚀 **Moving Forward**: This situation serves as a vivid reminder for all firms to continually evaluate and strengthen their internal controls and training programs. 🔗 For more detailed insight, you can read the full article [here](https://lnkd.in/eSrNth5C). #finance #regulation #FINRA #compliance #financialservices #investment #news --- Feel free to connect and discuss how these developments affect the broader finance community and what measures can be put in place to mitigate such issues in the future. https://lnkd.in/eSrNth5C

The Securities and Exchange Commission (SEC) is attempting to bolster the integrity of the financial markets by adopting Securities Act Rule 192. This rule, crafted to align with Section 621 of the Dodd-Frank Act, introduces a framework to prevent the sale of asset-backed securities (ABS) tainted by material conflicts of interest. The newly adopted rule, which will become effective 60 days after publication in the Federal Register, seeks to enhance transparency and protect investors in the securitization market. https://lnkd.in/gJAvVhhs

🚀 The U.S. Securities and Exchange Commission (SEC) has introduced a new rule and form mandating the reporting of short sale-related data. This move enhances transparency, with the SEC set to publish aggregate data. Amendments to the CAT NMS Plan will now include short sales by market makers engaged in bona fide market-making activities. 💼   🔍 Key detail: A Non-lapsed Legal Entity Identifier (LEI) is crucial info required from institutional money managers filing the report.   Via JD Supra - 📊📰 #SEC #ShortSaleData #Transparency #LEI #FinancialRegulation

The Securities and Exchange Commission’s Division of Examinations released its 2024 examination priorities to inform investors and registrants of the key risks, examination topics, and priorities that the Division plans to focus on in the upcoming year. This year’s examinations will prioritize areas that pose emerging risks to investors or the markets in addition to core and perennial risk areas. Click here to view: https://lnkd.in/eXzgwXfn #SEC #FinalRule #SECNews #SECAlert #SECFinalRules #RRSCompliance #RIA #Examinations #RiskManagement #MarketingRule #ComplianceReviews

Bases are loaded with federal securities class action filings and settlements as we enter the second half of 2024. During the first six months of 2024, there were 109 new federal securities class action filings, slightly lower than last year's 114. There were 49 settlements with $2.67 billion approved by courts compared to $3.9 billion for all of 2023. Commentators on the numbers fall into two teams -- those who predict an uptick from 2023 and those who forecast a near tie with 2023. It's anybody's ballgame as the year progresses.   Click the PDF below to delve into the areas of differentiation in 2024 and get a glimpse of what lies ahead for federal securities class actions. 👇 #ExecutiveAndFinancialRisk #RiskManagement #Insurance #FederalSecuritiesClassActions

So 2 years after being fined $475,000 by FINRA for regulatory failures, FINRA rewards Hilltop with a seat at the table to decide whether an emergency halt should be imposed on $MMTLP. Even though Hilltop had skin in the game because it sold $MMTLP, and we don't know how much counter party risk it had. Add the following to my list of questions for FINRA's Patricia Casimates and Chris Stone who headed that panel 1) How was the makeup of the $MMTLP U3 Halt Panel decided? 2) Who was involved in the decision making? 3) Why was Hilltop chosen? 4) Were Hilltop's prior regulatory failures discussed before the decision was made to add Hilltop Securities Managing Director Kelli Bell to the panel? 5) Did Congressman Pete Sessions or Congressman Patrick McHenry (or anyone in their offices or close to their office staff or the Congressmen personally) suggest or otherwise indicate Hilltop Securities should be included on the panel that decided to impose the halt? 6) Did anyone at FINRA know how many $MMTLP shares Hilltop had sold/delivered and how many still had to be located? And if so what were those numbers? Oh forgot to mention Hilltop was also fined by FINRA in 2019 https://lnkd.in/dAWFjD4b https://lnkd.in/dgYhhdJ3

Western International Securities Reg BI Violations Posted on April 29, 2024 The U.S. Securities and Exchange Commission (SEC) has spotlighted significant concerns within the financial industry, casting a shadow over Western International Securities and a handful of its brokers. The allegation involves an alleged breach of Regulation Best Interest (Reg BI) involving the sale of GWG L Bonds, amounting to a staggering $13.3 million, between July 2020 and April 2021. This situation underscores the vital need for vigilance and due diligence in investment decisions, particularly when it involves complex financial products. ...GO to Article 🔽 Western International Securities #RegulationBestInterest #FinancialProducts #ComplianceMatters #InvestmentAdvice #SECRegulations #FiduciaryDuty

There are some interesting nuggets in here, don’t gloss over them! #compliancematters #priorities

The securities class action (SCA) landscape is entering a period of stability, and based on the jurisprudence, it is also currently pro-defendant. With a new calendar year well underway, and two decisions in long-running cases handed down late last year, now is an opportune time to consider emerging trends expected to impact the space in the future. Learn more here: https://ow.ly/rQ7550RiG6r #PD #InsuranceIndustry

The safeguards in the Securities Act of 1933 and the Securities Exchange Act of 1934 have spurred the US economy to become one the strongest in the world. But a recent ruling by the US Supreme Court has diminished a key component of those safeguards—disclosure regulations—that could impact US capital markets. #SECRegulations #DisclosureRequirements #InvestorProtection #SecuritiesLaw #CorporateTransparency #CapitalMarkets #LegalInsights #CorporateGovernance