UBS Financial Services is facing a claim from a customer that it failed to supervise one of its former brokers, Alex G. Herrera of Coral Gables, Florida.
Tagged with "FINRA"
Customer Files FINRA Arbitration Claim Against UBS Over Its Failure to Supervise Former Broker
Posted on December 7th, 2018 at 2:34 PM
Ohio National’s Shell Game in Canceling its Insurance Policy
Posted on November 27th, 2018 at 3:43 PM
Sometimes, insurance policies are too good for insureds, and carriers take a bit of a “financial bath”. that is the case with Ohio National’s Guaranteed Minimum Income Benefit Rider (GMIB) Annuity Contract.
Elder Abuse Listed as One of FINRA’s Top Claim Types
Posted on November 12th, 2018 at 2:42 PM
As the baby boomer generation continues to age, FINRA has reported that it has seen a surge in the number of financial exploitation claims filed by senior citizens.
Raymond James Terminates Seven Financial Advisors for Improper Sales of Unit Investment Trusts
Posted on November 5th, 2018 at 4:53 PM
Raymond James has terminated seven financial advisors nationwide for improper sales of unit investment trusts (UITs) as a result of a FINRA regulatory sweep over the supervision of UIT sales by broker-dealers across the country. According to the regulatory filings, the financial advisors were based in Michigan, Florida, and Georgia.
FINRA Arbitration Panel Orders Credit Suisse to Pay Former Advisor More Than $844,000 in Deferred Compensation
Posted on October 30th, 2018 at 4:30 PM
A FINRA arbitration panel has ordered Credit Suisse to pay an advisor more than $844,000 in unpaid deferred compensation accruing until 2015 when the firm shuttered its U.S. wealth management unit.
SEC and FINRA Censure and Sanction Independent Broker-Dealer Cadaret Grant Over Supervisory Failures
Posted on September 14th, 2018 at 5:23 PM
In separate enforcement actions, the SEC and FINRA have censured and fined the Syracuse, New York-based firm, Cadaret Grant & Company, Inc., for its failure to properly supervise the sale of complex products.
FINRA Arbitrator Awards Expungement of 24 Annuity Complaints from Broker’s Record
Posted on September 12th, 2018 at 4:21 PM
A former Securities America broker has won his expungement request to clear his record of 24 customer complaints tied to a single annuity product.
FINRA Study Finds Growth of Hybrid Advisors
Posted on August 15th, 2018 at 9:17 AM
According to the first-ever snapshot of the industry conducted by FINRA, the growth in the number of “hybrid” advisors has exploded, now accounting for some 45% of all registered representatives.
FINRA Consolidates Its Enforcement Programs
Posted on July 31st, 2018 at 9:11 AM
FINRA recently has completed a major overhaul of its enforcement programs in an attempt to remove the ambiguity surrounding the consequences for violating its rules.
FINRA Fines Eight Broker-Dealers $2.7 Million
Posted on July 27th, 2018 at 11:26 AM
FINRA has fined eight broker-dealers a total of $2.7 million for poor supervision of variable annuity exchanges. Those fined include the Advisor Group’s Royal Alliance Associates, FSC Securities Corp, SagePoint Financial and Woodbury Financial Services, as well as National Planning Group’s National Planning Corp., Investment Centers of America, SII Investments and IFC Holdings. As part of the $2.7 million penalty, each broker-dealer will be responsible to pay individual fines ranging from $115,000 to $600,000.