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.
Tagged with "Broker"
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Broker Protocol Delivered Another Blow by Georgia Court Decision
Posted on July 10th, 2018 at 10:17 AM
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.
Wells Fargo Files Lawsuit against Former Broker for Contacting Former Customers
Posted on October 27th, 2017 at 12:10 PM
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.
Citizens Securities to Pay a Former Broker Nearly $1.7M for Recruitment Misrepresentations
Posted on July 27th, 2017 at 2:37 PM
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.
Merrill Lynch Terminates Boston Broker Over Expense Account Filing
Posted on January 11th, 2017 at 9:04 AM
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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.
FINRA Panel Orders Ex-Broker to Pay $260K for Overstating Production
Posted on December 16th, 2016 at 1:00 PM
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.
Stockbroker Defeats Wells Fargo in Employment Dispute
Posted on January 8th, 2016 at 8:31 AM
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.
Former Broker Accused of Selling Unregistered Securities
Posted on June 5th, 2015 at 8:29 AM
The Connecticut Department of Banking has alleged that former registered broker James Neilsen sold unregistered securities.
Idaho Broker Pleads Guilty to Investment Fraud
Posted on April 23rd, 2015 at 11:44 AM
An Idaho broker pleaded guilty to wire fraud and to engaging in monetary transactions in property from illegal activity.
First American Securities Charged for Failing to Supervise Brokers
Posted on February 24th, 2015 at 11:47 AM
First American Securities, Inc., an Ohio-based brokerage firm, was fined by FINRA for failing to implement, maintain and enforce a proper supervisory system.
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