FINRA and SIPC Consent to Enhance the Yearly Report Filing Process for Broker-Dealers

On August 1, the Financial Industry Regulatory Authority and the Securities Investor Protection Corporation (SIPC) revealed a services contract developed to improve the yearly report filing procedure for member companies. Reliable September 1, member companies that presently submit different yearly reports with SIPC and FINRA will have the ability to make a single filing using FINRA’s existing reporting website.

This plan is planned to (1) reduce reporting concerns and compliance expenses for member companies, and (2) decrease the variety of irregular or insufficient yearly audited monetary declarations and additional reports being submitted.

Finra Bars Broker Who Lost Job After Felony Indictment

A previous broker at Horace Mann Securities, who was prosecuted in March on a federal felony charge and fired quickly afterward, has been disallowed from the market by u4 Finra for cannot reveal info associated with its examination of his termination.

Cock P. Wollman, who started his securities profession at AXA Advisors in 2002, signed up with Horace Mann in 2007. The company, based in Springfield, Ill., concentrates on insurance and financial investments for teachers.

In a letter of approval, waiver and permission, the Financial Industry Regulatory Authority Inc. stated an indictment had been submitted versus Mr. Wollman on March 22, 2017, but that he had cannot alert his company of the action as needed by Finra guidelines. Mr. Wollman, whose pending charges are not securities related, informed Finra that he did not mean to look for additional work in the securities market.

Edward Jones Broker Ended Over Customer Present Is Disallowed by Finra

The Financial Industry Regulatory Authority Inc. has disallowed a previous Edward D. Jones broker for cannot stand for the on-the-record statement about its examination of his company’s accusation that he accepted a present from a customer without informing the company.

Ralph Villanueva Villavicencio, who operated in Kirkland, Wash., and signed up with Edward Jones in 2013, was ended last September for accepting the present.

He accepted and granted the Finra action without confessing or rejecting the findings.