Sec Building

The U.S. Securities and Exchange Commission (SEC) is a federal agency. It holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States. The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.

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FINRA fines Merrill Lynch $6m

Wall Street Bull

The Financial Industry Regulatory Authority (FINRA) has announced that it has censured and fined Merrill Lynch Professional Clearing (Merrill Lynch PRO) $3.5m for violating Regulation SHO, an SEC rule that established a regulatory framework to govern short sales and prevent abusive naked short selling.

SEC whistleblower will receive $30m award

Blowing Whistle

An anonymous tipster living abroad will be receiving more than $30 million, in the largest whistleblower award ever doled out by U.S. securities regulators as part of a program that aims to incentivize insiders to report wrongdoing.

UBS steps up vetting of employees

Dog Detective

UBS has said it had expanded the number of employees that are subject to internal background checks to around 15 percent of its workforce in a move than came in the wake of numerous scandals.

Morgan Stanley reduces Q2 profit

Morgan Stanley HQ

Morgan Stanley reduced second-quarter earnings per share by 2 cents after reaching agreements to end mortgage-related lawsuits. The firm said it may face additional claims from authorities in California.

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