Displaying 1932 results
Morgan Stanley beats ex-Fla. advisors’ claims to deferred compensation
Expect to see more inconsistency around deferred compensation claims, says one attorney.
Devil is in the detail of Finra’s new remote inspections pilot
FSI will work constructively with the regulator to find the best way forward, just as it did over residential supervisory location designations.
Miami advisors fight over book of business
'Handshake' deal goes wrong for two south Florida advisors.
Finra refutes firms’ claims that it is forcing them to get workers back into the office
Regulator says that claims of 'stringent' new rules are incorrect.
Wisc. broker facing charges over stealing town’s money
In twist, the broker has blamed other members of a town board for allegedly allowing the theft.
Haves and have nots: The illusory promise of SEC investor protection
While the rule ostensibly aims to shield investors from financial risk, the evidence suggests a different narrative.
Finra targets broker over WhatsApp misuse
The use of unmonitored messaging apps by financial advisors has been on the rise in the wake of the Covid-19 pandemic.
After losing arbitration, brokers file bankruptcy
"Another schlocky broker-dealer gets hit with an arbitration award and the owner and everyone else declare bankruptcy," said one attorney.
Finra fines spike 63% in 2023: Report
'Last year saw bigger Finra fines per case,' a lawyer says. 'Supersized fines, or those of $1 million or more, were up, and mega-sized fines, or those of $5 million and more, increased too.'
Finra finds many misleading claims about crypto assets
'This happens when there is a new frontier of investment categories,' a compliance expert says. 'A lot of folks get very excited. What that means is [compliance] policies and procedures don’t catch up with the business side.'
Finra orders brokerage, former rep to pay $1 million for bad private placements
Claimants alleged fraud, elder abuse, and breach of contract and fiduciary duty.
Finra charges advisor with paying under the table commissions
Finra alleges a southern California broker kicked back $900,000 in commissions to non-registered sales person.
Finra smacks Philly broker with Wells notice
"It's not a good day for Austin Dutton," says one attorney.
State regulators, PIABA back Finra against claim it’s unconstitutional
'Finra provides essential services ... thousands of firms, hundreds of thousands of registered persons, and millions of American investors rely upon,' the North American Securities Administrators Association says in a brief.
Finra arbitrators exonerate Raymond James in scam targeting Ecuadorian investors
'It’s a devastating award, or lack thereof, for the claimants and a massive victory for Raymond James,' says an attorney not involved in the case.
Former broker sentenced to more than 10 years in prison for fraud
'[Thomas] Brenner used the funds for his benefit, including to make large race car-related purchases, and to pay back tax debts,' according to the U.S. Attorney's Office for the Northern District of Ohio.
Judge lets Finra proceed with enforcement action against broker
'If Finra doesn’t have the ability to enforce its own rules and discipline its members, then chaos will reign,' says PIABA President Hugh Berkson.
Finra tags advisor for sales of GPB alternatives
"It’s frustrating to see Finra charging brokers after the nail is in the coffin of [clients'] portfolios," one attorney says.
SEC charges former broker with ripping off elderly, disabled clients
Joseph Michael Todd of Florida stole at least $3 million from 20 customers, according to the regulator.
Finra expels brokerage for Reg BI violations
Reps traded excessively in 110 customer accounts, racking up close to $4 million in commissions and trading costs.
