2021: Top five movers and shakers
FinTech Futures takes a look back at some of the year’s seminal hires and appointments.
FINRA
FINRA orders Robinhood to pay $70m penalty for “false and misleading information”
The sanction is the largest financial penalty issued by the regulator.
Finra selects Amazon Web Services to power CAT processing
The regulator has selected a bevy of Amazon solutions.
Finra slaps UBS with $2m fine for short position failures
Self-regulatory body calls out the bank’s repeated failures.
Thesys loses US stock exchange contract to Finra
The firm was hired to build a data warehouse for all stock-market activity.
UBS fined $15m for AML malpractices
Bank hit by a trio of regulators for money laundering fails.
Finra wants fintech feedback on US broker-dealer industry
US-based Financial Industry Regulatory Authority open to ideas.
Securities markets: standing at the crossroads
Financial technology has the potential to radically transform the securities industry. The fast pace of change could lead to disintermediation, according to an Iosco study.
Finra highlights possibilities of blockchain tech for the securities industry
Financial Industry Regulatory Authority (Finra), a non-governmental organisation that regulates member brokerage firms and exchange markets in the US, has published an extensive report, evaluating the implications of blockchain for the securities industry.
NYSE defends controversial “retrograde” self-regulation plan
Financial market participants have criticised plans for the New York Stock Exchange to begin monitoring itself through its non-profit division, NYSE Regulation, describing the move as a “retrograde step” that will never work in practice. NYSE is currently monitored by FINRA, an independent organisation.
Market manipulation detection firm offers “Pepsi Challenge” with new system
One company grateful for the flurry of publicity given to the practice of front-running orders by the publication of Michael Lewis’s book Flash Boys earlier this year is New York-based Trillium, whose Surveyor market manipulation detection tool can be used to detect the practice.
Barclays fined again for “widespread” failure to keep records
Barclays has been fined $3.75 million by the US Financial Industry Regulatory Authority for its failure to keep electronic records, including emails and instant messages, which are required by law. The failure is the latest in a string of recent fines for the bank.
FINRA appoints di Florio to curb risk
The US Financial Industry Regulatory Authority has appointed Carlo di Florio as executive vice president, risk and strategy. In his new role, di Florio will lead FINRA’s office of risk, emerging regulatory issues, enterprise risk management and strategy.
