Overstock Fights Wall Street Over Dividend Amid 400% Rally
Robert Schmidt and Ben Bain
Bloomberg, 18 May 2020
If Overstock’s dividend plan proves successful, the implications for U.S. markets could be significant. More companies may decide to dabble in digital assets or add restrictions to their shares, especially if they find that doing so gives them more sway over their investors. On Wall Street, brokerage firms and exchanges are loath to see the launch of any security that raises the specter of a monopoly and could cut them out of trading and listing fees.
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Dinosaur Financial Group, L.L.C Fined by FINRA
An AWC was issued in which the firm was censured, fined $200,000 and required to review and revise its systems and procedures (written and otherwise) regarding the supervision of its Trade Reporting and Compliance Engine (TRACE®) and Municipal Securities Rulemaking Board (MSRB) trade reporting to ensure that its systems and procedures are reasonably designed to achieve compliance with all securities laws, regulations and FINRA rules. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to report, timely report and/or correctly report TRACE-eligible securities transactions.
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