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Finra advances proposals to crack down on ‘high-risk’ brokers, unpaid arbitration awards
Regulatory board moves to toughen penalties for advisers with certain past infractions and those who welch on payments owed to investors.
9 more firms adopt fee disclosure template for clients
The fee schedule, developed by state regulators and other groups, details account maintenance and cash management charges.
Finra board to consider crackdown on high-risk brokers, unpaid arbitration awards
The group also will mull amendments to arbitration procedures.
Finra cites Cetera for mutual fund sales charge improprieties
Retirement plans and charitable organizations were sold higher-cost share classes though they were eligible for lower-cost shares.
Advisor Group units fined for capital violations
Finra censures Royal Alliance, FSC, SagePoint, Woodbury, levies $550,000 in fines.
Finra whacks mid-sized NJ broker-dealer with $325,000 fine over variable annuity sales
Summit Equities sold 1,037 individual variable annuity contracts to its customers during the time period cited by Finra.
Advisers getting left behind as broker-dealers respond to Finra priority letter
The problem lies in who gets defined as a rogue broker.
Finra bars former broker for unsuitable trades
In one example, Scott Allen Sibley allegedly exposed risk-averse retiree to naked options.
Finra bars former UBS broker
Ronald Broadstone charged with misappropriating client funds
Finra issues complaint against broker for unsuitable variable annuity sales
Walter Marino allegedly profited from advising elderly clients to buy new contracts.
Consultant tells advisers to start early to help clients deal with issues surrounding aging
Amy Florian says advisers should urge clients to prepare "diminished capacity letters" in case they start to lose their faculties.
Seniors get help and $4.3 million from Finra hotline
More than 9,200 calls result in 650 referrals to regulators, 130 to protective services.
Former broker wins $1.8 million arbitration award against PNC Investments for wrongful firing, defamation
Finra panel determined that the allegations against her had nothing to do with the securities business.
Finra arbitration panel awards Wilbanks Securities investor $1 million for misleading sales pitch on variable annuity
Finra arbitrators awarded an investor more than $1 million for what she alleges was a Wilbank Securities Inc.
Finra asks for comments on underwriting rules
Self-regulator wants to encourage capital-raising while still protecting investors.
Finra arbitrators add more detail to expungement decisions
Explanations for removing a complaint from a broker's record range from a couple paragraphs to several pages, but critics still worry about the impact to investors of wiping a slate clean.
Finra updates sanction guidelines to address financial exploitation of clients
Disciplinary proceedings will determine whether a firm or an adviser exerted undue influence over "vulnerable individuals or individuals with diminished capacity."
Time for an in-depth look at regulatory duplication
Regulators should launch a full-scale investigation into how to avoid putting firms into double jeopardy.
Why do we need self-regulatory organizations? – Cook
Broad questions on the rationale for SROs in the securities industry provide a starting point for the regulator to review and hone its mission, says CEO Robert Cook.
UBS loses another Puerto Rico bond claim, this time for $4.4 million
This is the third multimillion-dollar loss involving Puerto Rico bonds or bond funds UBS has seen since December.
