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The Financial Industry Regulatory Authority is the largest independent regulator for all securities firms doing business in the United States. FINRA's mission is to protect investors by making sure the United States securities industry operates fairly and honestly. As of October 2023, FINRA oversaw 3,394 brokerage firms, 149,887 branch offices ...
Manning rule. The term Manning rule is the informal name for a financial industry rule in the United States: Financial Industry Regulatory Authority (FINRA) regulation, Rule 5320. It prohibits a FINRA member firm from placing the firm's interest before/above the financial interests of a client. For example, when a securities firm is holding a ...
FINRA is a key player in the financial regulatory space. Brokers and brokerage firms must be FINRA registered. It has a broad range of disciplinary powers, including the power to suspend or expel ...
In August 2007, Asensio Brokerage Services, Inc. (now known as Integral Securities, Inc.) was expelled by FINRA for failure to pay fines and/or costs. As a result of a controversy over Asensio's role in the short selling of Polymedica FINRA imposed a fine and Asensio disbanded his broker-dealer operation. Subsequently, FINRA barred Asensio from ...
The Financial Industry Regulatory Authority (FINRA) has fined Morgan Stanley $1 million for an alleged failure to ensure the best prices and execution of transactions involving certain customers ...
A registered representative ("RR" or "rep" or "broker") is authorized to sell a large array of securities such as stocks, bonds, options, mutual funds, limited partnership programs and variable annuities. Registered representatives who sell variable products such as variable annuities or variable universal life insurance policies typically also ...
A futures contract obligates a buyer to take delivery of a good, or commodity, on a specific date. On the other end of the contract is a seller who is responsible for delivering those items at a ...
Specific identification is a method of finding out ending inventory cost. It requires a detailed physical count so that the company knows exactly how many of each good bought on specific dates comprise the year-end inventory. When this information is found, the amount of goods is multiplied by their purchase cost at their purchase date to get a ...