Month: June 2012

Securities Exchange Commission Requests that Brokers Make Suspicious Activity Reports Available to FINRA

In Regulatory Notice 12-08, effective January 26, 2012, the Financial Industry Regulatory Authority (IFNRA), citing the regulations of the Financial Crimes Enforcement Network (FINCEN) regarding Suspicious Activity Reports (SAR’s), now requires brokerage firms to make such SAR reports and supporting documents and information available to regulatory authorities.

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FINRA Issues Customer Account Protection Regulatory Notice to Protect Customer Monies from E-Mail Instruction-Related Theft

In Regulatory Notice 12-05, the Financial Industry Regulatory Authority (FINRA) noted an increasing number of reports of customer funds stolen due to e-mail instructions received from compromised customer e-mail accounts.  The Notice highlights risks associated with non-genuine instructions to transmit or withdraw funds via e-mail.    The Notice includes a requirement of the implementation of […]

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