finra: Archives - Citizen Watch Report

96.7% of community banks report unrealized losses, while Finra underreports $4 trillion in hedge fund margin loans.

September 5, 2024 8:22 pm

https://www.fdic.gov/system/files/2024-09/qbp.pdf Finra, a Wall Street regulator is understating Margin Debt by more than $4 TRILLION dollars, by not counting gigantic Meme Banks who make Margin Loans to Hedge Funds Most market watchers rely on the monthly margin debt figures published by Wall Street’s self-regulator, FINRA, as the reliable gauge in determining how much of securities …

FINRA fines Pershing LLC (Bank of NY Mellon) only $175,000 for failing to report millions of fractional share trades over 26 years.

August 9, 2024 9:56 am

FINRA charged Pershing LLC, a subsidiary of Bank of New York Mellon, for failing to report millions of fractional share trades from June 1997 to June 2023. Pershing agreed to pay a fine of $175,000 as part of the settlement. The violations included failing to report trades and not maintaining a proper supervisory system for these trades. …

Citigroup 2024: Disqualified by FINRA, failed Fed stress test, fined for risk management, $30 trillion in swaps.

July 11, 2024 9:01 pm

Citigroup 2024 Recap⚠️ -Subject to FINRA disqualification for aiding and abetting -Failed Stress Test after Fed identified "weakness" in Resolution (Bankruptcy) Plan-Fined for bad books/inability to manage "ongoing risk" Did I mention they have $30 Trillion in Swaps? pic.twitter.com/ej4JQmhQ3X — M.B. (@741trey) July 11, 2024 Stress Test Results (2024): Citigroup completed the Federal Reserve Board’s …

FINRA ‘discipline’ Alert! Citigroup incorrectly stated that it was acting as an agent (a middleman facilitating the trade between two parties) when it was actually trading as a principal (trading for its own account) on 37,000 transactions. Penalty? Censure, $250k fine, without admitting anything.

September 12, 2023 1:13 pm

by Dismal-Jellyfish I would like to share some more FINRA ‘discipline’ with y’all, this time it’s Citigroup (again…) As these releases convey a ton of information, I hope this format makes sense: I am going to outline what Citigroup did from points from the filing. I am going to pull the rules they broke and attempt …

Instinet had $50B of $67B waived in Excess Capital Premiums Waived over a 2 Year Period. Instinet also received a massive waiver on January 28, 2021. FINRA: “Instinet experienced late reporting issues in connection with at least 26 billion events from November 2020 through December 2022”

August 18, 2023 3:14 pm

by Dismal-Jellyfish https://www.finra.org/sites/default/files/fda_documents/2020067139101%20Instinet%2C%20LLC%2C%20CRD%207897%20AWC%20gg.pdf STILL NOT COMPLETE!!! Wut Mean?: Instinet was mandated to start reporting order data to the CAT Central Repository from June 22, 2020. Instinet hired a third-party vendor for CAT reporting, but their internal data specifications were inadequate for proper CAT-format reporting. In June 2020, Instinet informed FINRA that they foresaw CAT reporting …