When An SEC Settlement Leads To Disqualification By FINRA

By Aurora Cassirer and Jenna Hutchinson (February 20, 2019, 1:35 PM EST) -- As if it is not bad enough to be the subject of sanctions issued by the U.S. Securities and Exchange Commission, the required reporting of such sanctions to the Financial Industry Regulatory Authority[1] often sparks FINRA penalties as well as statutory disqualification of such a sanctioned member. This type of tag team behavior between the SEC and FINRA has attained great prominence when applied against broker-dealer firms for noncompliance with anti-money laundering, or AML, regulations that require the filing of suspicious activity reports, or SARs, disclosing transactions that broker-dealers know, suspect or have reason to suspect involve potential illegal activity.[2]...

Law360 is on it, so you are, too.

A Law360 subscription puts you at the center of fast-moving legal issues, trends and developments so you can act with speed and confidence. Over 200 articles are published daily across more than 60 topics, industries, practice areas and jurisdictions.


A Law360 subscription includes features such as

  • Daily newsletters
  • Expert analysis
  • Mobile app
  • Advanced search
  • Judge information
  • Real-time alerts
  • 450K+ searchable archived articles

And more!

Experience Law360 today with a free 7-day trial.

Start Free Trial

Already a subscriber? Click here to login

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!