JP Morgan Chase FINRA Discipline Alert! From January 2019 to July 2022, the firm’s financial risk management controls and supervisory procedures were not reasonably designed to prevent certain erroneous orders that exceeded appropriate price or size parameters. Punishment? A $750k fine & censure.

by Dismal-Jellyfish https://www.finra.org/sites/default/files/fda_documents/2018058111301%20J.P.%20Morgan%20Securities%2C%20LLC%20CRD%2079%20AWC%20gg.pdf The firm’s market access controls failed to prevent five erroneous orders routed to exchanges and alternative trading systems: On January 30, 2019, a firm trader on the Program Trading Agency Desk routed to the market an order …

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SEC Chair Gary Gensler: “Though I’m not suggesting that such individual funds areas large as today’s largest banks, as noted in the Federal Reserve’s recent Financial Stability Report, the largest hedge funds by gross asset value have at times on average exceeded 20-to-1 leverage.

by Dismal-Jellyfish https://www.sec.gov/news/speech/gensler-honest-unbiased-investment-management-05192023#_ftn10 SEC Chair Gary Gensler in speech “Honest and Unbiased Investment Management”: Remarks before the Inaugural Conference on Emerging Trends in Asset Management Highlights Private Funds: Today, nearly 75 years later, the private fund industry has grown to …

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AOC says Biden ‘exceeded’ progressive expectations in first 100 days… Biden lose net 3 house seats… toughen tax enforcement to help pay for his economic agenda…

AOC says Biden ‘exceeded’ progressive expectations in first 100 days Rep. Alexandria Ocasio-Cortez weighed in on Biden’s first 100 days in office Rep. Alexandria Ocasio-Cortez gave President Biden a progressive thumbs up for his 100 days in office Friday night. …

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