This has led to an admission by Sweett Group of an offence under Section 7(1) of the UK Bribery Act 2010 (failing to prevent an associated person
bribing another to obtain or retain business for the company).
Then, in February 2014, FINRA proposed a rule change to prohibit member firms and associated persons
from conditioning or seeking to condition settlement of a customer dispute on, or to otherwise compensate a customer for, the customer's agreement to consent to, or not to oppose, a member's or associated person
's request to expunge such customer dispute information from the CRD system.
Specifically, FINRA urged broker-dealers to supervise their activities to reasonably ensure that conflicts of interest do not impair the judgment of a registered representative or another associated person
about what is in the customer's interest, the guidance read.
a) A member or an associated person
must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person
to ascertain the customer's investment profile.
Mark was director of the managed futures division at Alaron Trading until they were acquired by Peregrine Financial Group in 2009, where he was a registered associated person
(National Futures Association NFA ID#: 0348336).
Each case will be determined on its own facts, but it is possible that an overseas company, which carries on business in the UK through a local subsidiary or a representative office, is exposed to the risk of prosecution in the UK for a contravention of the s7 offence even where the bribery occurs outside the UK and by an associated person
who has no connection with the UK.
Although this puts greater pressure on corporate organisations than before, employers can protect themselves by proving that they had adequate procedures in place to prevent staff or an associated person
from committing bribery.
An individual TPH or an individual associated person
shall be considered a person "engaged in the securities business of a Trading Permit Holder or TPH organization" if the individual TPH or individual associated person
An associated person
can, therefore, commence proceedings for a non-molestation order seeking an order to protect a relevant child in circumstances where no order is sought to protect the applicant.
The final rules also state that an associated person
must not cause a violation due to an act or omission the person "knew, or was reckless in not knowing, would directly and substantially contribute" to a violation.
Information relating to criminal, civil or administrative actions or disciplinary proceedings against the firm or any associated person
with respect to any audit report;
The registration process for an issuer/dealer in Florida is similar to registering as a dealer in Florida, including submitting a Form BD for the issuer and a Form U-4 and fingerprint card for each associated person