Articles Tagged with MSRB Rule G-17

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FINRA has fined Merrill Lynch $1.5 million over its alleged breach of supervisory and disclosure-related rules involving short positions in municipal securities. The firm was censured, fined, and required to certify that its supervisory systems and written procedures are reasonably designed to achieve compliance with Municipal Securities Rulemaking Board (MSRB) Rules G-17 and G-27 and Rule 15C3-3(D)(4) of the Securities Exchange Act of 1934 (Exchange Act). The firm was also required to certify that its revised written supervisory procedures have been distributed to all firm personnel with responsibilities for compliance with MSRB Rules G-17 and G-27 and Exchange Act Rule 15C3-3(D)(4).

If you have suffered investment losses with Merrill Lynch, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms, such as Merrill Lynch.

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FINRA has suspended Ricky Alan Mantei from the securities industry for 30 business days. According to an Office of Hearing Officers (“OHO”) decision from February 18, 2021, Mantei violated his firm’s prearranged trading prohibition and circumvented its cross-trade procedures by directing prearranged trading with intermediaries in order to facilitate and disguise cross trades. Mantei was fined a total of $15,000 for violating FINRA Rule 2010 and MSRB Rule G-17.

If the OHO decision becomes FINRA’s final disciplinary action, Mantei’s 30-day suspension will run from April 19, 2021, to June 1, 2021.

If you have invested with Ricky Alan Mantei, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

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