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Business & Finance

FINRA altered internal documents: US

WASHINGTON : US securities regulators on Thursday penalized the Financial Industry Regulatory Authority after accusing
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By Muhammad Iqbal
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downloadWASHINGTON: US securities regulators on Thursday penalized the Financial Industry Regulatory Authority after accusing the US brokerage industry regulator of altering internal documents.

The US Securities and Exchange Commission said that in 2008 the director of FINRA's Kansas City district office caused the alteration of three records of staff meeting minutes just hours before producing them to SEC inspection staff.

The alterations made the documents inaccurate and incomplete, the SEC said.

The SEC ordered FINRA to hire an independent consultant and to otherwise improve its compliance operations.

 

Copyright Reuters, 2010

 

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