FINRA believes that effective liquidity management is a critical control function at broker-dealers and across firms in the financial sector. Failure to manage liquidity has contributed to both individual firm … Continue reading FINRA Issues Liquidity Risk Management Guidance
The Financial Industry Regulatory Authority (FINRA) a has censured and fined Charles Schwab & Co., Inc. $2 million for net capital deficiencies and for related supervisory failures. The net capital … Continue reading Net Capital Deficiency Costs Charles Schwab Millions
In a major shift in policy with respect to the processing of customer checks by broker-dealers in subscription-way securities, the United States Securities and Exchange Commission (“SEC”) issued a No … Continue reading No-Action Guidance on Prompt Forwarding of Customer Funds with Subscription-Way Securities