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SEC affirms FINRA decision to fine CCO $5K.

Late last year the Securities and Exchange Commission (SEC) released an opinion affirming a FINRA decision to fine a CCO for “failure to enforce WSP” (written supervisory procedures). The firm, Ocean Cross had approximately 15 associated persons and two principals in two offices between September 8, 2011 and April 30, 2012—the relevant period in this … Read more

Credit Suisse Securities (USA) LLC fined $6.5 million by FINRA

The heart of FINRA’s December 23, 2019 allegations are that Credit Suisse Securities (USA) LLC (CSS) “did not implement reasonably designed surveillances and supervisory procedures to monitor for certain kinds of potentially manipulative activity by its Direct Market Access (DMA) clients.” Apparently, during the relevant timeframe (July of 2010 through July 2014) the allowed trading … Read more