Displaying 36 results
Ex-Osaic veteran advisor barred by Finra
'A lawyer may tell an advisor like this, there's no upside in responding to Finra, just leave the industry,' says a senior brokerage executive.
Finra fines Morgan Stanley $1.6M over muni transaction shortfalls
Broker-dealer self-regulator finds pattern of gross supervisory failure involving municipal securities over a five-year period.
Finra fines Haywood USA $175,000
The regulator's settlement with the US unit of Canadian firm relates to sales of Canadian private placements.
Finra fines, censures New Jersey broker-dealer for violating Reg BI
Network 1 Financial Securities did not have a written system to identify and flag excessive trading, resulting in $533,500 in commissions for the firm, regulator says.
Number of brokerages fell, registered rep total increased in 2022, Finra reports
Brokerages suffered financially during the market downturn last year, with net income and revenue falling sharply in 2022.
Merrill to pay $1.4 million over telemarketing violations
The company, which self-reported the issue, signed separate consent orders with Finra and the New Hampshire Bureau of Securities Regulation.
Former advisor, financial planner charged with defrauding NBA players
Four people face federal indictments in the scheme, and the former advisor is being charged by the SEC.
Trading app fined $3M for letting youngsters trade options spreads
Webull Financial failed to conduct adequate due diligence on customers, Finra found, but the company did not admit or deny fault.
Finra dings Morgan Stanley $802,000 for overcharging clients
Morgan Stanley was penalized for failing to catch excess sales charges and fees from mutual fund transactions between 2015 to 2021.
Rep monkeyed around with client information to sell more GPB: Finra
Using white out and other means, the rep doctored client financial information disclosure forms, according to Finra.
Trading app Fennel seeks to win customers with ESG data
The subscription-based service’s key feature is its in-app ESG data and rankings, which provides information to retail investors on public companies’ environmental, social and governance practices.
Finra panel orders Houston firm and two reps to pay $2 million for securities sales
Eight IRA owners to get damage payments from IMS Securities and brokers.
Finra bars rep for $15M in unauthorized trades for retiree
Craig David Dima has been barred from the securities industry for making unauthorized and unsuitable trades totaling approximately $15 million in a 73-year-old retiree's account, and for misrepresenting the reasons for the trades to the customer.
Elderly investors win $1.25 million Finra arbitration over failed medical start-up investments
The claimants alleged the Connecticut investment bank negligently supervised its broker.
Finra arbitration panel orders broker to pay $331,000 for unsuitable investments
A Finra arbitration panel hit an adviser with an order to pay $331,000 in compensatory damages after finding…
Finra wants to ease membership application process, while still protecting investors
New report details proposed changes in rules and material it requires from broker-dealers.
