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SIFMA tests firms to see if they can withstand a cyber attack

By | November 15th, 2019|Categories: Uncategorized|Tags: , , , , |

Brokers and firms found out if they were well prepared against a cyber security attack in early November 2019. The Securities and Financial Markets Association (SIFMA) tested hundreds of people in the securities industry on November 7, 2019 with its Quantum Dawn V test. The test is a simulated cyberattack and tests how well firms [...]

Broker banned by FINRA for reportedly cheating on exams

By | November 4th, 2019|Categories: FINRA|Tags: , , , , |

Brokers-to-be who are looking to break into day trading may want to be a little more inconspicuous if they cheat on tests, or not cheat at all. The Financial Industry Regulatory Authority claims Andrew Yoro cheated on the Series 7 examination by “consulting study materials during unscheduled breaks and then changing some of his answers.” [...]

The responsibilities of the U.S. Securities and Exchange Commission

By | November 1st, 2019|Categories: Investors|Tags: , , , , , |

Click here to read our post about the history and mission of the SEC. The SEC breaks down its responsibilities into five major categories on its website: “Interpret and enforce federal securities laws;” “Issue new rules and amend existing rules;” “Oversee the inspection of securities firms, brokers, investment advisers, and ratings agencies;” “Oversee the inspection [...]

FINRA protects investors, brokers in the securities industry – Part 1

By | October 14th, 2019|Categories: Arbitration, FINRA, Mediation|Tags: , , , , |

If you invest money in America and work with a broker or a firm, there’s a good chance you may have heard of FINRA.   The Financial Industry Regulatory Authority defines itself as a “not-for-profit organization that – working under the supervision of the SEC – actively engages with and provides essential tools for investors, member [...]