Tagged with "FINRA"

FINRA Penalizes Baird Over $100 Trading Commissions

Posted on September 22nd, 2022 at 2:15 PM
FINRA Penalizes Baird Over $100 Trading Commissions

The Financial Industry Regulatory Authority (FINRA) has ordered Robert W. Baird & Co. to pay $461,481 plus interest due to allegations that the firm overcharged its clients on thousands of equity transactions for at least one year.

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FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

Posted on September 21st, 2022 at 1:23 PM
FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered UBS to pay nearly $470,000 to clients who invested in a complex options strategy, known as the YES or Yield Enhancement Strategy. 

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Former David Lerner Advisor Agrees To Settlement Over Proprietary Energy Fund

Posted on September 12th, 2022 at 12:55 PM
Former David Lerner Advisor Agrees To Settlement Over Proprietary Energy Fund

The Financial Industry Regulatory Authority (FINRA) has agreed to a settlement with a barred David Lerner advisor over the millions of dollars of unpaid distributions owed to investors who purchased a proprietary energy fund prior to energy prices collapsing in 2020.

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FINRA Settles With Kovack Over Failure to Supervise

Posted on September 9th, 2022 at 1:11 PM
FINRA Settles With Kovack Over Failure to Supervise

Kovack Securities over the firm’s failure to supervise one of its unnamed advisors who improperly recommended short-term investments in mutual fund share classes. 

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FINRA Suspends Former Merrill Advisor Over Unauthorized Trades

Posted on September 8th, 2022 at 1:48 PM
FINRA Suspends Former Merrill Advisor Over Unauthorized Trades

The Financial Industry Regulatory Authority (FINRA) has issued a 45-day suspension and a $5,000 fine on a former Merrill Lynch advisor who allegedly completed unauthorized trades in three separate client accounts. 

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FINRA Warns Member Firms of E-Signature Violations

Posted on August 24th, 2022 at 1:35 PM
FINRA Warns Member Firms of E-Signature Violations

The Financial Industry Regulatory Authority (FINRA) has issued a regulatory notice warning financial advisor firms to closely monitor how advisors utilize third-party digital signature platforms amidst a spike in forgery and falsifications.

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FINRA Fines J.P. Morgan Over Failure to Supervise a Former Advisor

Posted on August 19th, 2022 at 1:30 PM
FINRA Fines J.P. Morgan Over Failure to Supervise a Former Advisor

The Financial Industry Regulatory Authority (FINRA) has fined J.P. Morgan $200,000 for failing to reasonably supervise a former advisor who made several unsuitable trades in his wealthy grandmother’s account. 

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FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices

Posted on August 15th, 2022 at 2:22 PM
FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices

The Financial Industry Regulatory Authority (FINRA) has filed proposed changes to FINRA Rule 3110 with the Securities and Exchange Commission (SEC).

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FINRA Suspends Former Schwab Advisor for Failing to Disclose Felony Charges

Posted on August 11th, 2022 at 2:13 PM
FINRA Suspends Former Schwab Advisor for Failing to Disclose Felony Charges

The Financial Industry Regulatory Authority (FINRA) has suspended a former Charles Schwab advisor who allegedly failed to disclose multiple felony charges.

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Here’s How FINRA Spent Its Fine Proceeds In 2021

Posted on July 19th, 2022 at 1:59 PM
Here’s How FINRA Spent Its Fine Proceeds In 2021

The Financial Industry Regulatory Authority (FINRA) imposed fines worth up to $90.1 million in 2021, which was a substantial increase from the $57 million issued in 2020.

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I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!

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LATEST NEWS AND ARTICLES

September 23, 2022
CFP Board Lifts Interim Suspension of Former UBS Advisor

The Certified Financial Planner Board of Standards (CFP Board) has lifted an interim suspension it had imposed against a former UBS advisor after criminal fraud charges against him were recently dismissed.

September 22, 2022
FINRA Penalizes Baird Over $100 Trading Commissions

The Financial Industry Regulatory Authority (FINRA) has ordered Robert W. Baird & Co. to pay $461,481 plus interest due to allegations that the firm overcharged its clients on thousands of equity transactions for at least one year.

September 21, 2022
FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered UBS to pay nearly $470,000 to clients who invested in a complex options strategy, known as the YES or Yield Enhancement Strategy.