Tagged with "Broker"

Broker Barred by FINRA for Failure to Appear at OTR

Posted on December 30th, 2019 at 4:48 PM
Broker Barred by FINRA for Failure to Appear at OTR

James D’Meo, formerly a registered representative with Kenneth Jerome & Co., agreed to accept a bar from the securities industry after refusing to appear for a follow-up on-the-record interview (“OTR”) with FINRA.  On November 21, 2019, D’Meo signed a Letter of Acceptance, Waiver and Consent (“AWC”) agreeing to a bar without admitting or denying FINRA’s findings.

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FINRA Suspends Ex-Wells Fargo Broker over Personal Email Use

Posted on October 2nd, 2019 at 2:09 PM
FINRA Suspends Ex-Wells Fargo Broker over Personal Email Use

The Financial Industry Regulatory Authority Inc. (“FINRA”) recently suspended an independent broker for using his personal email and computer to communicate with clients in violation of industry rules.

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Broker Protocol Delivered Another Blow by Georgia Court Decision

Posted on July 10th, 2018 at 10:17 AM
Broker Protocol Delivered Another Blow by Georgia Court Decision

A state appeals court decision in a Georgia case could make it harder for advisors looking to move to another firm to retain their clients.

 

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Wells Fargo Files Lawsuit against Former Broker for Contacting Former Customers

Posted on October 27th, 2017 at 12:10 PM
Wells Fargo Files Lawsuit against Former Broker for Contacting Former Customers

Wells Fargo Advisors has filed a lawsuit against former broker, Robert D. Meyers and his son, Mathew Meyers in order to prevent them from contacting former customers in an effort to recruit them to their new registered investment adviser firm in Columbus, Ohio.

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Citizens Securities to Pay a Former Broker Nearly $1.7M for Recruitment Misrepresentations

Posted on July 27th, 2017 at 2:37 PM
Citizens Securities to Pay a Former Broker Nearly $1.7M for Recruitment Misrepresentations

A FINRA arbitration panel has ordered Citizens Securities to pay a former broker nearly $1.7 million for misrepresenting to him that he would receive a $30 million book of business when he was recruited by the firm.

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Merrill Lynch Terminates Boston Broker Over Expense Account Filing

Posted on January 11th, 2017 at 9:04 AM
Merrill Lynch Terminates Boston Broker Over Expense Account Filing

Merrill Lynch has discharged a broker with $1.4 billion of client assets for improperly submitting personal expenses for reimbursement, resulting in management’s loss of confidence.

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FINRA Panel Orders Ex-Broker to Pay $260K for Overstating Production

Posted on December 16th, 2016 at 1:00 PM
FINRA Panel Orders Ex-Broker to Pay $260K for Overstating Production

A FINRA arbitration panel has ordered an ex-broker from Sarasota, Florida named Donald Lee Watson, Jr. to pay Jeffrey Matthews Financial Group an amount of $260,000 for allegedly making false claims about his production levels when being recruited to join the firm. 

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Stockbroker Defeats Wells Fargo in Employment Dispute

Posted on January 8th, 2016 at 8:31 AM
Stockbroker Defeats Wells Fargo in Employment Dispute

After leaving Wells Fargo, the new Merrill Lynch broker soon faced allegations of misappropriation of Wachovia’s confidential documents and files. The plaintiff Wells Fargo asserted six causes of action against the broker as a result of his resignation and following employment with Merrill Lynch.

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Former Broker Accused of Selling Unregistered Securities

Posted on June 5th, 2015 at 8:29 AM
Former Broker Accused of Selling Unregistered Securities

The Connecticut Department of Banking has alleged that former registered broker James Neilsen sold unregistered securities.

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Idaho Broker Pleads Guilty to Investment Fraud

Posted on April 23rd, 2015 at 11:44 AM
Idaho Broker Pleads Guilty to Investment Fraud

An Idaho broker pleaded guilty to wire fraud and to engaging in monetary transactions in property from illegal activity.

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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.