FINRA July 2022 Disciplinary Actions – Financial Risk Management, OBAs, Fail to Appear

UBS AWC – findings that that it provided market access to two affiliates without accounting for those affiliates in its financial risk management controls. The findings stated that the firm maintained a proprietary order management system that it and its affiliates used for trading in listed futures and options. In addition, the firm maintained a third-party order management system that it and its affiliates used primarily to enter good-till-cancelled spread orders. The firm established credit thresholds and erroneous order controls based upon its mistaken belief that the options orders entered through both order management systems were entered by a single firm affiliate. In fact, a firm employee was able to enter orders on behalf of two additional firm affiliates into both order management systems.

Highlights from the release, which is available at

Other firms –

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