A Financial Industry Regulatory Authority (FINRA) arbitration panel has expunged the records of three advisors who are part of a large Morgan Stanley team. The disclosure had related to their purported liability for a customer complaint pertaining to a back-office mistake over a misvalued stock certificate.
The U.S. Supreme Court has ruled in favor of a former Ameriprise Financial advisor in a landmark decision that could provide advisors with more leeway when disputing arbitration awards.
The Financial Industry Regulatory Authority (FINRA) has suspended a former Wells Fargo advisor for allegedly completing several trades on behalf of a client without obtaining consent.
As part of a settlement, the Financial Industry Regulatory Authority (FINRA) has imposed a $150,000 fine on Geneos Wealth Management pertaining to improper sales of GPB private placements and for failing to supervise its advisors’ recommendations of LJM Preservation & Growth Fund, an alternative mutual fund.
The Financial Industry Regulatory Authority (FINRA) has barred a Salt Lake City-based advisory firm, Alpine Securities, from the industry and has ordered the firm to pay nearly $2.3 million in restitution.
Eccleston Law is representing 10 ex-Morgan Stanley advisors in their claim over forfeited deferred compensation which was filed last week with FINRA.
The Financial Industry Regulatory Authority (FINRA) has agreed to settlements with two advisory firms over improper sales of GPB Capital Holdings private placements to investors.
The Financial Industry Regulatory Authority (FINRA) issued $91 million in fines in 2021, which constitutes a 60% increase from $57 million in 2020, according to ThinkAdvisor. The 2021 fine total is the highest since 2016 when FINRA imposed $174 million in fines. However, much of FINRA’s 2021 total constitutes Robinhood’s payment of $57 million in fines and $12.6 million in restitution relating to supervisory failures and investor harm.
The Financial Industry Regulatory Authority (FINRA) has barred a former Minnesota-based UBS advisor after he failed to cooperate with FINRA’s probe into allegations that he recommended that a client invest in “risky” outside businesses, according to the settlement letter.
The Financial Industry Regulatory Authority (FINRA) intends to amend its rules to permit expedited arbitration cases for parties who are 75 or older or are seriously ill.
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The Maryland Securities Commissioner has barred financial advisor Timothy Pickett and his firm, Blue Anchor Capital Management, from operating in the securities industry within the state.
The Financial Industry Regulatory Authority (“FINRA”) has proposed a rule change that would allow broker-dealers and registered representatives to seek a stay of certain disciplinary sanctions before those penalties take effect.
AdvisorHub reports that the Securities and Exchange Commission’s Investor Advisory Committee has finalized a recommendation urging the Securities and Exchange Commission (“SEC”) to rein in the use of mandatory arbitration clauses by registered investment advisers (“RIA”s).
