Failure to supervise

One of the most important NFA rules is 2-9 (supervision). Now the SRO is amending it. For instance, the rule will not longer refer to ...

Wedbush failed reasonably to supervise one of its registered representatives, Timary Delorme (“Delorme”), who engaged in manipulative trading activity of penny stocks over multiple years, ...

The Trust PPMs, like the Four Funds PPMs, raised red flags that should have caused the Respondents, as associated persons of a broker-dealer, to conduct ...

These proceedings arise out of the failure by Cadaret Grant, Grant and Johnson (the “Supervisory Respondents”) reasonably to supervise Cadaret Grant’s registered representatives with respect ...

BKS Advisors had a compliance manual that included a “Block Order Allocation” policy aimed at preventing unfair trade allocations.  But that policy didn’t prevent long ...

The “red flags” at Interactive Brokers were waving for over three years.  Internal audit findings, along with “multiple” internal warnings from its clearing and compliance ...

Citi eliminated 15 valuations and related financial control positions in North America, as part of a global “efficiency” initiative that saw 50 such positions eliminated ...

Throughout his employment at NW Capital, Morris reported to Fagan as his first-level supervisor. During the relevant period, Fagan also was the supervisor responsible for ...

In approximately 850 transactions since April 2012 until approximately June 2015, DBSI’s securities lending desk borrowed ADRs from Pre-Release Brokers, which resulted in DBSI indirectly ...

The 2011 integration of Wells Fargo and Wachovia triggered the adoption of a number of written compliance policies. One such policy prohibited Wells Fargo from ...