Diversified Financial Services
Company Overview of Financial Industry Regulatory Authority, Inc.
Financial Industry Regulatory Authority, Inc. (FINRA) is a trade association that provides regulatory, consulting, and advisory services focusing on financial services and securities brokerage companies. The organization offers registration, dispute resolution, federal securities law enforcement, market surveillance and analysis, and regulatory policy formulation and implementation services. FINRA, formerly known as National Association of Securities Dealers, Inc., was founded in 1938 and is headquartered in Washington, District of Columbia.
1735 K Street
Washington, DC 20006
Founded in 1938
Key Executives for Financial Industry Regulatory Authority, Inc.
Executive Chairman of Board of Governors and Chief Executive Officer
Executive Vice President and Chief Financial Officer
Senior Vice President and Regional Director of New York Region
President of Dispute Resolution, Executive Vice President, and Chief Hearing Officer
Executive Vice President and Director of Dispute Resolution
Compensation as of Fiscal Year 2015.
Financial Industry Regulatory Authority, Inc. Key Developments
Financial Industry Regulatory Authority, Inc. Fines Aegis Capital Corp. $950,000 for Sales of Unregistered Penny Stocks and AML Violations
Aug 3 15
Financial Industry Regulatory Authority, Inc. announced that it has fined Aegis Capital Corp. $950,000 for improperly selling unregistered penny stocks and for related supervisory failures, and for failing to implement anti-money laundering (AML) policies and procedures. Aegis is also required to retain an independent consultant to review its supervisory and AML systems and procedures. In addition, Charles D. Smulevitz and Kevin C. McKenna, who served successively as Chief Compliance and AML Compliance Officers at the time of the violations, agreed to 30- and 60-day principal suspensions, and fines of $5,000 and $10,000, respectively, for their supervisory and AML failures.
Global Strategic Investments LLC Enters into Agreement with FINRA to Settle Charges over Venezuelan Bonds
Jun 17 15
Global Strategic Investments LLC entered into an agreement with FINRA to settle charges that the company opened accounts for two foreign banks to liquidate Venezuelan bonds, without conducting the proper due diligence. Global Strategic sold over $650 million in Venezuelan bonds with the intention of facilitating currency exchanges beginning in November 2010. Global Strategic agreed to a $200,000 fine without admitting to or denying the charges.
Goldman Sachs to Repay USD 80 Million to National Australia Bank
May 13 15
Goldman Sachs has been asked by the Financial Industry Regulatory Authority (Finra) to pay a sum of USD 80 million with interest to the National Australia Bank. According to the report NAB filed a USD 230 million arbitration claim in 2012, alleging that Goldman Sachs had violated the mortgage-linked security practices. In its claim, NAB had claimed for USD 230 million in total damages including USD 80 million as compensatory damages with interest of USD 60 million and punitive damages.
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