Displaying 36 results
Broker who took client funds for 17 years is barred
"A broker admitting that he has been ripping off clients for 17 years is beyond troubling," said one attorney.
Follow the rules, ask questions when using gen AI, Finra tells firms
Amid growing use of generative AI and large language models, the regulator is issuing a crucial reminder for its members.
Critics question Finra as watchdog’s caseload plunges
Enforcement actions hit an all-time low last year while fines plummeted to half of 2016 haul, raising doubts about its effectiveness.
Colorado bars advisor over high-risk options trades
"Buying options is fraught with risk for financial advisors," one attorney noted.
Wirehouse sacks staff after investigating allegations of faking work
More than a dozen staffers fired over alleged 'simulation of keyboard activity,' according to Finra disclosures.
Brooklyn-based brokerage TradeZero hit with $250k penalty over finfluencer activities
Finra investigation finds pandemic-era promotions, recordkeeping, and privacy notices to investors breached a raft of rules and regulations.
Canadian bank TD sues wealth advisor who “abruptly” exited amid AML probe
The Toronto-based lender says the advisor and a colleague breached contract as they joined Raymond James.
Mind SEC’s new data breach rules, says Finra
The industry regulator is urging member firms to start taking appropriate measures as changes to Regulation S-P take effect.
AI vs. human advice: which one wins consumers’ trust?
New Finra research peels back the layers on consumer sentiment and use of artificial intelligence for financial and investment advice.
Citi, HSBC, Barclays amp up back-to-office pressure
The banks are pushing more staff to report for in-person work as Finra shifts its rules around workplace monitoring.
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.
Finra clarifies guidelines around AI, chatbot communications
The self-regulator has updated its guidance around requirements for firms to oversee chatbot messaging for investors and AI-generated content.
Finra bars ex-Wells Fargo broker firm accused of theft
“We’ve done scores of theft cases over the years and it’s a cancer," said one attorney.
Florida broker-dealer faces $500k fine over texting violations
Finra finds years of compliance shortfalls at Dawson James Securities involving more than 10,000 text messages, including inadequate system for private placements.
Finra caught up in email phishing scheme
A new cybersecurity alert warns member firms to be wary of fraudulent messages impersonating key members of the regulator’s leadership.
Finra orders Morgan Stanley to pay ex-brokers roughly $3M
An arbitration panel rules in favor of former advisors who claimed the firm had delayed compensating them for their work, violating ERISA rules.
Finra bars former ETrade employee
The former rep refused to cooperate with an investigation alleging that he transferred funds from a client account without authorization
Finra fines M1 Finance in landmark social media enforcement
The regulator hands down a $850,000 penalty after finding noncompliant promotional messages from M1's finfluencer army.
NewEdge Securities fined over bond pricing shortfalls
The brokerage firm violated Finra rules by failing to ensure fair pricing in corporate and muni bond transactions.
Finra names new members to its board
Finra's new governors include Vanguard’s first-ever global CIO and the president of UBS Americas.
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