Category FINRA

Finra Missed Chances to Catch Stanford and Madoff

By Joshua Gallu, David Scheer and Ian Katz The Financial Industry Regulatory Authority didn’t fully probe transactions at Bernard Madoff’s firm and repeatedly failed to investigate tips about R. Allen Stanford’s alleged $7 billion fraud, an internal report found. Employees at the U.S. brokerage industry’s main regulator must more aggressively exercise their authority, and escalate […]

Texas Department of Banking

Texas Banking Commissioner And Antigua & Barbuda International Financial Sector Regulatory Authority Sign Agreement On Information Sharing. The Texas Banking Commissioner and the Antigua & Barbuda International Financial Sector Regulatory Authority announce the signing of an Agreement on Information Sharing between the two financial institution supervisory authorities. The agreement provides for information sharing and efficient […]

R. Allen Stanford and Miami-based Greenberg Traurig

Miami Herald runs an excellent story on R. Allen Stanford (charged with multi-billion fraud) and a new angle: the stage was set for Stanford’s multi-billion fraud in 1998, the year Stanford persuaded Florida banking regulators to grant his company special rights to open a Miami office outside the scrutiny of federal banking regulators. In this […]

The NASD, the SEC and the DOJ did not disclose critical information

The NASD was a self-regulatory organization of the securities industry responsible for the operation and regulation of the Nasdaq stock market and over-the-counter markets. The NASD watches over the Nasdaq to make sure the market operates correctly. In 2007, the NASD merged with the New York Stock Exchange’s regulation committee to form the Financial Industry […]