Enforcement

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aria-labelledby="Qualification Exams">Qualification Exams</a><ol><li id="finra-homepage-nav-megamenus-new-menu-link-content63752dac-c460-4619-b75a-0544d39f9e21--2" class="sf-depth-4 header sf-no-children"><a href="/registration-exams-ce/qualification-exams/securities-industry-essentials-exam-sie" class="sf-depth-4" aria-labelledby="Securities Industry Essentials Exam (SIE)">Securities Industry Essentials Exam (SIE)</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-contenteba0ebc3-0134-40a1-869d-3a5a30f05306--2" class="sf-depth-4 header sf-no-children"><a href="/registration-exams-ce/qualification-exams/series7" class="sf-depth-4" aria-labelledby="Series 7">Series 7</a></li></ol></li><li id="finra-homepage-nav-megamenus-new-menu-link-content1d435c60-0a5d-4ac1-baac-6feb68ac1aa4--2" class="sf-depth-3 header menuparent"><a href="/registration-exams-ce/continuing-education" class="sf-depth-3 menuparent" aria-labelledby="Continuing Education (CE)">Continuing Education (CE)</a><ol><li id="finra-homepage-nav-megamenus-new-menu-link-content12708005-03a9-4813-a1c4-b79ccb575e00--2" class="sf-depth-4 header sf-no-children"><a href="/registration-exams-ce/continuing-education/regulatory-element-topics" class="sf-depth-4" aria-labelledby="View a Regulatory Element Learning Plan">View a Regulatory Element Learning Plan</a></li></ol></li></ol></div></li><li id="finra-homepage-nav-megamenus-new-menu-link-content87ac70da-476d-497b-bee4-39d65e59ea5f--2" class="sf-depth-2 header sf-multicolumn-column menuparent"><div class="sf-multicolumn-column"><a href="/registration-exams-ce" class="sf-depth-2 menuparent" aria-labelledby="Registration Section 3">Registration Section 3</a><ol><li id="finra-homepage-nav-megamenus-new-menu-link-content1f87e2bc-137c-4e76-ba12-921ac5400696--2" class="sf-depth-3 header menuparent"><a href="/registration-exams-ce/classic-crd" class="sf-depth-3 menuparent" aria-labelledby="Registration Systems">Registration Systems</a><ol><li 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id="finra-homepage-nav-megamenus-new-menu-link-content9abdc27c-9497-426d-be8e-465a10d034ac--2" class="sf-depth-3 header sf-no-children"><a href="/events-training/finra-georgetown" class="sf-depth-3" aria-labelledby="FINRA Institute at Georgetown">FINRA Institute at Georgetown</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-content81cc3c6b-ad65-4627-8b34-69f4bb5d3e5e--2" class="sf-depth-3 header sf-no-children"><a href="/events-training/flex" class="sf-depth-3" aria-labelledby="Financial Learning Experience (FLEX)">Financial Learning Experience (FLEX)</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-content8febe617-8873-4d02-aca8-d13df4b6649e--2" class="sf-depth-3 header sf-no-children"><a href="/events-training/small-firm-briefing" class="sf-depth-3" aria-labelledby="Small Firm Briefing">Small Firm Briefing</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-content911c7ec5-023c-4c98-953f-b121ff986fa3--2" class="sf-depth-3 header sf-no-children"><a href="/events-training/webinars" class="sf-depth-3" aria-labelledby="Webinars">Webinars</a></li></ol></div></li></ol></li></ul></li><li id="finra-homepage-nav-megamenus-new-menu-link-contentf3f7bbdd-246d-45c1-af1c-960dc8ad074d--2" class="sf-depth-1 header menuparent"><a href="/filing-reporting" class="sf-depth-1 menuparent" aria-labelledby="Filing & Reporting">Filing & Reporting</a><ul class="sf-multicolumn"><li class="sf-multicolumn-wrapper "><ol><li id="finra-homepage-nav-megamenus-new-menu-link-content296db8b3-7b22-4c23-a036-06be44277a69--2" class="sf-depth-2 header sf-multicolumn-column menuparent"><div class="sf-multicolumn-column"><a href="/filing-reporting" class="sf-depth-2 menuparent" aria-labelledby="Filing & Reporting Section 1">Filing & Reporting Section 1</a><ol><li id="finra-homepage-nav-megamenus-new-menu-link-contentf874a19d-557b-487f-88f1-3d84445f4bc9--2" class="sf-depth-3 header sf-no-children"><a href="/filing-reporting/finra-gateway" class="sf-depth-3" aria-labelledby="FINRA Gateway">FINRA Gateway</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-contentf6c4c3c6-93c8-42cf-ab58-476a92d01380--2" class="sf-depth-3 header sf-no-children"><a href="/filing-reporting/systems-status" class="sf-depth-3" aria-labelledby="Systems Status">Systems Status</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-contentd27e2150-fc22-4e07-98c1-2cce079184a8--2" class="sf-depth-3 header sf-no-children"><a href="/filing-reporting/entitlement" class="sf-depth-3" aria-labelledby="Entitlement Program">Entitlement Program</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-content68c74d41-92b9-4e79-84e4-5c43beaf45dc--2" class="sf-depth-3 header sf-no-children"><a href="/filing-reporting/market-transparency-reporting" class="sf-depth-3" aria-labelledby="Market Transparency Reporting Tools">Market Transparency Reporting Tools</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-contentbb250ecd-0432-4ebc-bccf-a21e455fb617--2" class="sf-depth-3 header sf-no-children"><a href="/filing-reporting/regulatory-filing-systems" class="sf-depth-3" aria-labelledby="Regulatory Filing Systems">Regulatory Filing Systems</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-content2de7e722-b3b2-471e-9cf2-587f649dd923--2" class="sf-depth-3 header sf-no-children"><a href="/filing-reporting/data-transfer-tools" class="sf-depth-3" aria-labelledby="Data Transfer Tools">Data Transfer Tools</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-contentec6d9be1-8ac6-4071-890c-52838b5490a2--2" class="sf-depth-3 header sf-no-children"><a href="/filing-reporting/e-bill" class="sf-depth-3" aria-labelledby="E-Bill">E-Bill</a></li></ol></div></li></ol></li></ul></li><li id="finra-homepage-nav-megamenus-new-menu-link-contentabdfc859-e1e4-4071-9b99-9535c132ee72--2" class="sf-depth-1 header menuparent"><a href="/compliance-tools" class="sf-depth-1 menuparent" aria-labelledby="Compliance Tools">Compliance Tools</a><ul 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header sf-no-children"><a href="/investors/alerts" class="sf-depth-4" aria-labelledby="Investor Alerts">Investor Alerts</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-contentbabb7a34-330b-432a-9c7a-3aed86cab6b3--2" class="sf-depth-4 header sf-no-children"><a href="/investors/protect-your-money/ask-and-check" class="sf-depth-4" aria-labelledby="Ask and Check">Ask and Check</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-content75981642-a29c-4c2f-a04a-268dd98fd524--2" class="sf-depth-4 header sf-no-children"><a href="/investors/protect-your-money/avoid-fraud" class="sf-depth-4" aria-labelledby="Avoid Fraud">Avoid Fraud</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-content773fb0c7-df7e-422b-a8f0-3689c3f58683--2" class="sf-depth-4 header sf-no-children"><a href="/investors/protect-your-money/protect-your-identity" class="sf-depth-4" aria-labelledby="Protect Your Identity">Protect Your Identity</a></li></ol></li></ol></div></li><li 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class="sf-depth-4" aria-labelledby="File a Complaint">File a Complaint</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-contentcca58141-8642-401c-acd4-a857dae74c57--2" class="sf-depth-4 header sf-no-children"><a href="/investors/need-help/helpline-seniors" class="sf-depth-4" aria-labelledby="FINRA Securities Helpline for Seniors">FINRA Securities Helpline for Seniors</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-contentb8670cad-ba33-4aff-a609-45c82362ed80--2" class="sf-depth-4 header sf-no-children"><a href="/arbitration-mediation" class="sf-depth-4" aria-labelledby="Dispute Resolution Services">Dispute Resolution Services</a></li><li id="finra-homepage-nav-megamenus-new-menu-link-contentfb105b99-1a67-497d-8fd6-500d4c597267--2" class="sf-depth-4 header sf-no-children"><a href="/investors/need-help/your-rights-under-sipc-protection-rot" class="sf-depth-4" aria-labelledby="SIPC Protection">SIPC Protection</a></li><li 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Hearing Officers (OHO)" data-drupal-link-system-path="node/10857">Office of Hearing Officers (OHO)</a> </li> </ul> </li> </ul> </nav> </div> </div> </div> </div> <div class="image-and-caption i-c-responsive"> <div class="hero-caption"> Enforcement </div> <div class="image"> <div class="block-region-image"><div data-block-plugin-id="entity_field:node:field_hero_image" class="block block-ctools-block block-entity-fieldnodefield-hero-image"> <div class="content"> <div class="field field--name-field-hero-image field--type-image field--label-hidden field__item"> <img src="/sites/default/files/styles/crop_hero_image/public/2020-08/EnfourcementPageHeaderImage_0.jpg?h=bbf22322&itok=ncn9Uur-" width="2410" height="753" alt="Enforcement" loading="lazy" class="image-style-crop-hero-image" /> </div> </div> </div> </div> </div> </div> </div> <div class="col-xl-9 main-body"> <div class="row"> <div class="hero-caption"> Enforcement </div> <div class="block-region-top"><div data-block-plugin-id="entity_field:node:body" class="block block-ctools-block block-entity-fieldnodebody"> <div class="content"> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><style type="text/css">.slider-combo{ padding-bottom: 80px !important; margin-top: 20px; margin-bottom: 20px; } .slider-combo__bg-image { overflow: hidden; } </style><h2>Who We Are</h2><p>We advance confidence in the securities markets through vigorous, fair and effective enforcement of FINRA and MSRB rules, and federal securities laws and rules.</p><p>We act quickly to identify misconduct, stop fraud and prevent losses, obtain restitution for harmed investors and remove bad actors from FINRA membership.</p><p>We dedicate our resources to bringing meaningful enforcement actions to correct wrongdoing and deter future misconduct and to rooting out the bad actors that pose the greatest risk of harm to investors and the markets.<br><a id="priorities" name="priorities"></a></p></div> </div> </div> </div> </div> <div class="row"> <div class="col-lg"> <div class="block-region-middle"></div> </div> </div> <div class="layout--sidebar"> <div class="row sidecar-row"> <div id="layout--sidecar" class="col-lg layout--sidecar"> <div class="block-region-widget-block"><div data-block-plugin-id="entity_field:node:field_sidecar_content" class="block block-ctools-block block-entity-fieldnodefield-sidecar-content"> <div class="content"> <div class="field field--name-field-sidecar-content field--type-entity-reference-revisions field--label-hidden field__item"> <div class="paragraph paragraph--type--call-to-action paragraph--view-mode--default"> <div class="field field--name-field-cta-title field--type-string field--label-hidden field__item">Blog Post</div> <div class="clearfix text-formatted field field--name-field-body field--type-text-long field--label-hidden field__item"><p>FINRA Enforcement Chief’s Key Objectives</p></div> <div class="field field--name-field-cta-link field--type-link field--label-hidden field__item"><a href="/media-center/blog/finra-enforcement-chiefs-key-objectives">Read More</a></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div class="row"> <div class="col-lg"> <div class="row finra-container"> </div> <div class="row finra-container"> <div class="col-lg"> <div class="block-region-fixed-width-bottom"><div data-block-plugin-id="block_content:b135160d-1ecc-4fe8-afbb-089c4d94a9a1" class="block-content-paragraph_display_block block block-block-content block-block-contentb135160d-1ecc-4fe8-afbb-089c4d94a9a1"> <div class="content"> <div class="field field--name-field-paragraph-reference field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <div class="paragraph paragraph--type--two-column-carousel-container paragraph--view-mode--default"> <div class="field field--name-field-img field--type-image field--label-hidden field__item"> <img src="/themes/custom/finra_bootstrap_sass/images/two-col-slider.png" alt="Carousel Image" typeof="foaf:Image"> </div> <div id="36891" class="carousel slide carousel-fade"> <div class="carousel-inner"> <div class="carousel-item active"> <div class="paragraph paragraph--type--two-column-carousel-content paragraph--view-mode--default two-col-carousel--slide"> <div class="two-col-carousel--text two-col-carousel--left"> <div class="content"> <h3 class="sixty-forty-block__title">Enforcement Priorities</h3> <div class="sixty-forty-block__body"> <div class="clearfix text-formatted field field--name-field-left-body field--type-text-long field--label-hidden field__item"><ol> <li>obtaining restitution for harmed customers;</li> <li>ridding the industry of brokers engaged in fraud or other egregious misconduct—especially brokers with a history of violations;</li> <li>protecting seniors and vulnerable investors; and</li> <li>ensuring the integrity of the markets.</li> </ol> </div> </div> </div> </div> <div class="two-col-carousel--text two-col-carousel--right"> <div class="carousel-video-block"> <h3 class="sixty-forty-block__title">Restitution for Harmed Customers</h3> <div class="sixty-forty-block__body"> <div class="clearfix text-formatted field field--name-field-right-body field--type-text-long field--label-hidden field__item"><p><a href="/media-center/newsreleases/2022/finra-orders-joseph-stone-capital-and-several-representatives-pay-1-million">FINRA Orders Joseph Stone Capital to Pay $1 Million in Restitution</a> (News Release)</p> <p><a href="/media-center/newsreleases/2022/finra-orders-merrill-lynch-pierce-fenner-smith-inc-pay-15-point-2-million">FINRA Orders Merrill Lynch, Pierce, Fenner & Smith, Inc. to Pay $15.2 Million in Restitution</a> (News Release)</p> <p><a href="/media-center/newsreleases/2022/finra-extended-hearing-panel-expels-alpine-securities-orders-alpine">FINRA Extended Hearing Panel Expels Alpine Securities; Orders Alpine to Pay $2.3 Million in Restitution</a> (News Release)</p> </div> </div> </div> </div> </div> </div> <div class="carousel-item "> <div class="paragraph paragraph--type--two-column-carousel-content paragraph--view-mode--default two-col-carousel--slide"> <div class="two-col-carousel--text two-col-carousel--left"> <div class="content"> <h3 class="sixty-forty-block__title">Enforcement Priorities</h3> <div class="sixty-forty-block__body"> <div class="clearfix text-formatted field field--name-field-left-body field--type-text-long field--label-hidden field__item"><ol> <li>obtaining restitution for harmed customers;</li> <li>ridding the industry of brokers engaged in fraud or other egregious misconduct—especially brokers with a history of violations;</li> <li>protecting seniors and vulnerable investors; and</li> <li>ensuring the integrity of the markets.</li> </ol> </div> </div> </div> </div> <div class="two-col-carousel--text two-col-carousel--right"> <div class="carousel-video-block"> <h3 class="sixty-forty-block__title">Ridding the Industry of Brokers Engaged in Misconduct</h3> <div class="sixty-forty-block__body"> <div class="clearfix text-formatted field field--name-field-right-body field--type-text-long field--label-hidden field__item"><p><a href="/media-center/finra-unscripted/kelly-excessive-trading">Excessive Trading: When A Lot Becomes Too Much</a> (Podcast)</p> <p><a href="/media-center/blog/working-front-lines-investor-protection-importance-finra-rule-8210">The Importance of FINRA Rule 8210</a> (Blog Post)<br>  <br> <a href="/media-center/blog/working-on-the-front-lines-of-investor-protection%E2%80%93barring-bad-actors-from-the-industry">Barring Bad Actors from the Industry</a> (Blog Post)</p> </div> </div> </div> </div> </div> </div> <div class="carousel-item "> <div class="paragraph paragraph--type--two-column-carousel-content paragraph--view-mode--default two-col-carousel--slide"> <div class="two-col-carousel--text two-col-carousel--left"> <div class="content"> <h3 class="sixty-forty-block__title">Enforcement Priorities</h3> <div class="sixty-forty-block__body"> <div class="clearfix text-formatted field field--name-field-left-body field--type-text-long field--label-hidden field__item"><ol> <li>obtaining restitution for harmed customers;</li> <li>ridding the industry of brokers engaged in fraud or other egregious misconduct—especially brokers with a history of violations;</li> <li>protecting seniors and vulnerable investors; and</li> <li>ensuring the integrity of the markets.</li> </ol> </div> </div> </div> </div> <div class="two-col-carousel--text two-col-carousel--right"> <div class="carousel-video-block"> <h3 class="sixty-forty-block__title">Protecting Seniors and Vulnerable Investors</h3> <div class="sixty-forty-block__body"> <div class="clearfix text-formatted field field--name-field-right-body field--type-text-long field--label-hidden field__item"><p><a href="/media-center/finra-unscripted/finra-enforcement-senior-investors">How FINRA Enforcement Prioritizes Senior Investors</a> (Podcast)</p> <p><a href="/media-center/newsreleases/2019/finra-bars-ami-forte-and-charles-lawrence-their-roles-churning">FINRA Bars Ami Forte and Charles Lawrence for Their Roles in Churning Accounts of Elderly Client with Dementia</a> (News Release)</p> <p><a href="/sites/default/files/2022-04/2022%20Letter%20From%20Senior%20Investor.pdf">Letter From a Senior Investor</a> (Letter) </p> </div> </div> </div> </div> </div> </div> <div class="carousel-item "> <div class="paragraph paragraph--type--two-column-carousel-content paragraph--view-mode--default two-col-carousel--slide"> <div class="two-col-carousel--text two-col-carousel--left"> <div class="content"> <h3 class="sixty-forty-block__title">Enforcement Priorities</h3> <div class="sixty-forty-block__body"> <div class="clearfix text-formatted field field--name-field-left-body field--type-text-long field--label-hidden field__item"><ol> <li>obtaining restitution for harmed customers;</li> <li>ridding the industry of brokers engaged in fraud or other egregious misconduct—especially brokers with a history of violations;</li> <li>protecting seniors and vulnerable investors; and</li> <li>ensuring the integrity of the markets.</li> </ol> </div> </div> </div> </div> <div class="two-col-carousel--text two-col-carousel--right"> <div class="carousel-video-block"> <h3 class="sixty-forty-block__title">Ensuring the Integrity of the Markets</h3> <div class="sixty-forty-block__body"> <div class="clearfix text-formatted field field--name-field-right-body field--type-text-long field--label-hidden field__item"><p><a href="/media-center/finra-unscripted/enforcement-jessica-hopper-introduction">FINRA Enforcement: Protecting Investors and Markets in Good Times and Bad</a> (Podcast)</p> <p><a href="/media-center/newsreleases/2020/finra-fines-sg-americas-securities-1-point-55-million-for-submitting-inaccurate-blue-sheet-data">FINRA Fines SG Americas Securities $1.55M for Inaccurate Blue Sheet Data</a> (News Release)</p> <p><a href="/media-center/newsreleases/2019/finra-exchanges-fine-credit-suisse-65-million-supervision-mkt-access">Exchanges Fine Credit Suisse $6.5M for Supervision and Market Access Violations</a> (News Release)</p> </div> </div> </div> </div> </div> </div> </div> <div class="carousel-indicators carousel-indicators-custom justify-content-around"> <div data-target="#36891" class="active custom-top" data-slide-to="0">01</div> <div data-target="#36891" class="" data-slide-to="1">02</div> <div data-target="#36891" class="" data-slide-to="2">03</div> <div data-target="#36891" class=" custom-bottom" data-slide-to="3">04</div> </div> </div> </div> </div> </div> </div> </div> <div data-block-plugin-id="block_content:5ba9c282-319a-472a-84c3-d38d45a3e027" class="block-content-basic block block-block-content block-block-content5ba9c282-319a-472a-84c3-d38d45a3e027"> <div class="content"> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><h2 id="what" name="what">What We Do</h2><div class="globalAlignRight globalFloatRight" style="margin:0 0 0 30px;max-width:450px;"><a class="use-ajax" style="text-decoration:none;" href="/media/image/550166" data-dialog-options="{"width":1200}" data-dialog-type="modal"><img src="/sites/default/files/2020-08/enforcement_process.jpg" data-entity-uuid data-entity-type alt width="450" align="center"></a><div class="fontSize12 globalAlignCenter">Click to enlarge.</div></div><p>FINRA investigates potential securities violations and, when appropriate, brings formal disciplinary actions against firms and their associated persons. <a href="/media-center/blog/working-on-the-front-lines-of-investor-protection-how-an-enforcement-action-becomes-an-enforcement-action">FINRA investigations</a> may be opened from various sources, including automated surveillance reports, examination findings, filings made with FINRA, customer complaints, tips, referrals from other regulators or other FINRA departments and press reports. As a policy, FINRA’s investigations are confidential.</p><p>If it appears that rules have been violated, Enforcement will determine whether the conduct merits formal disciplinary action. FINRA can take disciplinary action through two separate procedures: a settlement or a litigated proceeding. With a settlement, the respondent can opt to resolve alleged rule violations early by submitting a Letter of Acceptance, Waiver and Consent (AWC). Otherwise, FINRA may issue a formal complaint to FINRA’s <a href="/rules-guidance/adjudication-decisions/office-hearing-officers-oho">Office of Hearing Officers (OHO)</a>. If the respondent does not settle the complaint, the matter proceeds to a contested hearing before OHO, which hears the case and issues a decision.</p><h3>Bringing Cases on Behalf of Securities Exchanges </h3><p>Enforcement also brings disciplinary cases on behalf of the securities exchanges with which it has entered into Regulatory Services Agreements (RSAs). These matters may be brought on behalf of a single exchange or, more commonly, may be brought as global settlements on behalf of multiple self-regulatory organizations, sometimes including FINRA.</p><h3>Sanctions </h3><p>Sanctions for wrongdoing include fines, suspensions, and, in cases of serious misconduct, <a href="/rules-guidance/oversight-Oversight & Enforcement/individuals-barred-finra">bars from FINRA membership</a>. FINRA publishes its <a href="/rules-guidance/oversight-enforcement/sanction-guidelines">Sanction Guidelines</a> so that members, associated persons and their counsel understand the types of disciplinary sanctions that may be applicable to various violations. Whenever possible, Enforcement orders firms and individuals to make restitution to harmed customers.</p><h3>Other Outcomes </h3><p>Not all investigations result in formal disciplinary action. For example, if the violation is of a minor nature and there is an absence of customer harm or detrimental market impact, the matter may be resolved with an informal disciplinary action, such as the issuance of a Cautionary Action. While Cautionary Actions are considered by the staff in any future disciplinary matter, these actions do not constitute formal discipline and are not reportable on FINRA's Central Registration Depository (CRD) system or Form BD.</p><p>In addition, Enforcement may determine not to recommend formal disciplinary action following an investigation and may close the matter without further action.</p></div> </div> </div> <div data-block-plugin-id="block_content:487878b7-e2ec-4640-8bb8-c6e326b390b3" class="block-content-paragraph_display_block block block-block-content block-block-content487878b7-e2ec-4640-8bb8-c6e326b390b3"> <div class="content"> <div class="field field--name-field-paragraph-reference field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <div class="paragraph paragraph--type--big-blockquote paragraph--view-mode--default"> <div class="big-blockquote--wrapper"> <div class="field field--name-field-quote-text field--type-string-long field--label-hidden field__item"><h1>When you’ve lost part of your retirement and you don’t know where to go, this is the place to go. People should not be scared of FINRA. Without your help, I wouldn’t be where I’m at—I would be on a dead-end street.</h1></div> <div class="field--name-field-name"> Edward S. from California </div> </div> </div> </div> </div> </div> </div> <div data-block-plugin-id="block_content:b93ddff5-dc04-4904-ad6c-78fab1f2b357" class="block-content-basic block block-block-content block-block-contentb93ddff5-dc04-4904-ad6c-78fab1f2b357"> <div class="content"> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p class="more-link" style="padding:0px 230px 20px 230px"><a href="/rules-guidance/enforcement/faq">LEARN ABOUT THE IMPORTANT ROLE CUSTOMERS PLAY BY ASSISTING FINRA IN INVESTIGATIONS</a></p> </div> </div> </div> <div data-block-plugin-id="block_content:c21ccff6-ecd9-4dd6-b21a-6e7aaea07174" class="block-content-paragraph_display_block block block-block-content block-block-contentc21ccff6-ecd9-4dd6-b21a-6e7aaea07174"> <div class="content"> <div class="field field--name-field-paragraph-reference field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <div class="seventy-thirty-block"> <div class="seventy-thirty-block__left"> <div id="block-enforcementseeourresultsv2left" data-block-plugin-id="block_content:248d4732-0b15-48d5-a1dd-ab533771291d" class="block-content-basic block block-block-content block-block-content248d4732-0b15-48d5-a1dd-ab533771291d"> <div class="content"> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><h2 id="results" name="results">See Our Results</h2><p>Enforcement believes in a fair and transparent process—which is why all formal disciplinary actions we take are available through a publicly accessible online search tool called FINRA Disciplinary Actions Online. In addition, FINRA publishes a monthly summary of recent disciplinary actions.</p><p><a href="/rules-guidance/oversight-enforcement/disciplinary-actions-online">Disciplinary Actions Database</a><br>Conduct a search for FINRA disciplinary actions that were issued 2005 or later – and are eligible for publication pursuant to <a href="/rules-guidance/rulebooks/finra-rules/8313">FINRA Rule 8313</a>.</p><p><a href="/rules-guidance/oversight-enforcement/disciplinary-actions">Monthly Disciplinary Actions </a><br>View monthly compilations of FINRA disciplinary actions against firms and individuals for violations of FINRA rules; federal securities laws, rules, and regulations; and the rules of the MSRB.</p><p><a href="/rules-guidance/oversight-Oversight%20%26%20Enforcement/individuals-barred-finra">Individuals Barred by FINRA </a> <br>See the list of individuals who have a FINRA bar in effect, which means FINRA has permanently prohibited them from association with any FINRA member in any capacity.</p><p><a href="/media-center/actions-resulting-referrals-federal-and-state-authorities">Actions Resulting From FINRA Referrals</a><br>See a list of actions resulting from FINRA referrals to federal and state authorities.</p></div> </div> </div> </div> <div class="seventy-thirty-block__right"> <div class="views-element-container block block-views block-views-blocklatest-posts-block-6" id="block-views-block-latest-posts-block-6" data-block-plugin-id="views_block:latest_posts-block_6"> <div class="content"> <div><div class="view-grid-custom-enf gray-highlight padding--15 view view-latest-posts view-id-latest_posts view-display-id-block_6 js-view-dom-id-ce3ce9f5d0c7e7ba5c929e3edc259f26925b81959439abd3af808f2f5fb2dbc1"> <div class="view-header"> <style> .views-row-custom-enf { padding: 0 0 10px 0; } </style> <h4 style="margin:0 0 20px 0;"> ENFORCEMENT ACTION PRESS RELEASES </h4> </div> <div class="view-content"> <div class="views-view-grid vertical cols-1 clearfix col"> <div class="views-col-enf views-col clearfix col-lg-12"> <div class="views-row-custom-enf"> <div class="views-field views-field-field-core-content-type-tax"><strong class="field-content">News Release</strong></div><div class="views-field views-field-title"><span class="field-content"><a href="/media-center/newsreleases/2024/finra-fines-m1-finance-850000-violations-regarding-use-social-media" hreflang="en">FINRA Fines M1 Finance $850,000 for Violations Regarding Use of Social Media Influencer Program</a></span></div><div class="views-field views-field-field-core-official-dt"><div class="field-content"><time datetime="2024-03-18T12:00:00Z" class="datetime">Mar 18, 2024</time> </div></div> </div> <div class="views-row-custom-enf"> <div class="views-field views-field-field-core-content-type-tax"><strong class="field-content">News Release</strong></div><div class="views-field views-field-title"><span class="field-content"><a href="/media-center/newsreleases/2024/finra-fines-morgan-stanley-1point6-million-municipal-securities" hreflang="en">FINRA Fines Morgan Stanley $1.6 Million for Municipal Securities Violations and Related Failures</a></span></div><div class="views-field views-field-field-core-official-dt"><div class="field-content"><time datetime="2024-02-15T12:00:00Z" class="datetime">Feb 15, 2024</time> </div></div> </div> <div class="views-row-custom-enf"> <div class="views-field views-field-field-core-content-type-tax"><strong class="field-content">News Release</strong></div><div class="views-field views-field-title"><span class="field-content"><a href="/media-center/newsreleases/2023/finra-orders-four-firms-pay-26-million-violations-relating-fully" hreflang="en">FINRA Orders Four Firms to Pay $2.6 Million for Violations Relating to Fully Paid Securities Lending</a></span></div><div class="views-field views-field-field-core-official-dt"><div class="field-content"><time datetime="2023-12-06T12:00:00Z" class="datetime">Dec 06, 2023</time> </div></div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> </div> <div data-block-plugin-id="block_content:7bad12e4-5ef7-4d58-b002-96795ab038bb" class="block-content-paragraph_display_block block block-block-content block-block-content7bad12e4-5ef7-4d58-b002-96795ab038bb"> <div class="content"> <div class="field field--name-field-paragraph-reference field--type-entity-reference-revisions field--label-hidden field__items"> <div class="field__item"> <div class="slider-combo"> <div class="slider-combo__bg-image"> <img src="/sites/default/files/styles/2_1__1400x700/public/2019-06/buildings.png?itok=xV-TussW" width="1400" height="700" alt="buildings" loading="lazy" class="image-style-_-1__1400x700" /> </div> <div class="slider-combo__container container"> <div class="slider-combo__text-content"> <h3 class="slider-combo__title"><a name="join" id="join"></a>Join FINRA Enforcement</h3> <div class="slider-combo__body"> <div class="clearfix text-formatted field field--name-field-formatted-body field--type-text-long field--label-hidden field__item"><p>Do you have the passion and expertise to help FINRA protect investors and ensure confidence in the securities markets? Explore <a href="https://finra.wd1.myworkdayjobs.com/FINRA?q=enforcement" target="_blank">job openings</a> in the department, and see how Enforcement supports new hires via its <a href="/rules-guidance/enforcement/mentoring">mentoring and training program</a>.</p><p>Are you a past employee with FINRA Enforcement looking to reconnect? Join the <a href="https://www.linkedin.com/groups/12241135/">FINRA Enforcement Alumni Network</a>. <br> </p></div> </div> </div> <div class="slider-combo__slider-wrapper"> <div class="slider-combo__arrows"> <div class="slider-combo__previous">Featured</div> <div class="slider-combo__next"></div> </div> <div class="js-slider-combo slider-combo__slider"> <div class="slide-recommended"> <div class="slide-recommended__image_wrapper"> <div class="slide-recommended__image"> <div class="field field--name-field-slide-media-image field--type-entity-reference field--label-hidden field__item"><div> <div class="field field--name-image field--type-image field--label-hidden field__item"> <img src="/sites/default/files/2021-02/hero-honors-program.jpg" width="2410" height="753" alt="Honors Program" loading="lazy" /> </div> </div> </div> </div> </div> <div class="slide-recommended__content"> <h4 class="slide-recommended__title"> <div class="field field--name-field-title-link field--type-link 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