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...[Finra] are really opening a can of worms.” Finra submitted its proposal to the US Securities and Exchange Commission on Monday....
...The value of those bonds has slid as interest rates have climbed, with the debt trading this month at 92 cents on the dollar, according to market data collected by Finra....
...Finra wants to allow brokers to include projections of future performance in investment marketing materials aimed at the rich....
...Finra set the interest rates at those set out in the tax code between March 2018 and March 2020....
...(The bonds were trading at 89c on the dollar at the end of February, according to Finra data.) Whoops!...
...I also am pleased by Treasury and FINRA’s ongoing efforts to enhance post-trade transparency in the Treasury markets, which the SEC is reviewing.[27] Another reform that Citadel and most of the hedge fund...
...Second, the authors’ short-volume data came only from Finra, though they wrote in the paper that they’re working to get more comprehensive figures from exchanges....
...in distressed territory, ticked higher after the call with a $1.56bn bond issued by Altice France maturing in 2027 climbing more than 3 cents on the dollar to 49 cents, according to activity reported to Finra...
...They’d then have state securities regulators, Finra and the SEC all breathing down their necks....
...Across the industry as a whole, 26 per cent of Finra registered brokers are aged over 55 (as of 2020, the last data point in the 2023 Industry Snapshot)....
...Already, the overall share of electronic trading in US investment-grade credit has climbed from 21 per cent in early 2019 to 45 per cent at the end of 2022, according to data from industry watchdog Finra...
...SEC should also crack down on sales practices of single-stock ETFs, the IAC recommended, adding that ETF issuers should be required to disclose performance against their reference assets and the SEC and Finra...
...And — very importantly — Finra’s bond trading transparency rules vastly increased the quality and quantity of available data....
...So Finra put a stop to this practice in the US, banning analyst interviews during the “solicitation period” and fining the banks pitching for the Toys “R” Us IPO for allowing their analysts to be interviewed...
...Network 1 agreed to pay Finra $60,000 without admitting to any wrongdoing. The list of its potential oversights goes on, however....
...“The Finra reporting rule for fractional trading has created significant distortions . . ....
...That is the conclusion of research from Finra, the Financial Industry Regulatory Authority....
...The damages are the largest ever handed down by Finra for a dispute within the industry, and the largest overall for the last five years....
...“Even target-date funds have historically been called complicated by Finra.”...
...The jump in publicly reported trading volumes for Berkshire and other companies has been driven by the rise in fractional trading and rules from Finra, Wall Street’s self-regulatory body, which direct brokers...
...In the US, Finra highlighted the risks of securities-backed lines of credit (SBLOCs), which can allow clients to borrow up to 75 per cent of the value of a diversified equity portfolio....
...For some sense about how bleak this all is, let’s go to the bond market where, according to Finra Trace data, Revlon junk bonds have doubled in price this week from 6 cent on the dollars to . . . 12 cents...
...Regulators, including US broker-dealer watchdog Finra, are also looking at trading activity in the blank-cheque company before the deal with TMTG was announced....
...First: this is not some routine Finra inquiry. Both the SEC and the US Department of Justice are investigating, making this potentially both a civil and a criminal matter....
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