Tagged with "broker-dealer"

FINRA Fines Broker-Dealer Over its Failure to Supervise Nontraditional ETFs

Posted on August 16th, 2017 at 10:17 AM
 FINRA Fines Broker-Dealer Over its Failure to Supervise Nontraditional ETFs

FINRA has fined Atlanta-based Broker-Dealer, FSC Securities Corporation, $100,000 over allegations that it failed to supervise trades in risky, nontraditional exchange-traded funds (“ETFs”).

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Pennsylvania Fines Midsize Broker-Dealer $500,000 For Failure to Supervise

Posted on July 24th, 2017 at 10:01 AM
Pennsylvania Fines Midsize Broker-Dealer $500,000 For Failure to Supervise

The Pennsylvania Department of Banking and Securities has fined Newbridge Securities Corp. approximately $500,000.

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FINRA Expels Red River Securities

Posted on February 16th, 2017 at 9:21 AM
FINRA Expels Red River Securities

Red River Securities, a Plano, Texas-based broker-dealer, has been expelled from FINRA for fraudulent sales in five oil and gas joint ventures. 

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Morgan Stanley Fined By Regulators For Violating Customer Protection Rule

Posted on February 2nd, 2017 at 9:15 AM
Morgan Stanley Fined By Regulators For Violating Customer Protection Rule

Morgan Stanley has agreed to pay $7.5 million to settle SEC charges that it used trades involving customer cash to lower the firm’s borrowing cost. 

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Ex-RIA owner loses $13M arbitration to broker-dealer C.L. King

Posted on December 7th, 2016 at 10:16 AM
Ex-RIA owner loses $13M arbitration to broker-dealer C.L. King

A broker-dealer's $13 million arbitration win against an ex-RIA owner is a stark example of how complex business relationships can turn adversarial — sometimes leading to years of legal wrangling by firms and burned clients as well as bankruptcy.

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LATEST NEWS AND ARTICLES

December 3, 2021
FINRA Issues Fine to Small Advisory Firm Over Material Misrepresentations

The Financial Industry Regulatory Authority has censured and issued a $250,000 fine to a Los Angeles-based advisory firm, WestPark Capital Inc., for making material misrepresentations pertaining to promissory notes offered by its parent company.

December 2, 2021
FINRA Imposes Suspension on Ohio-Based Advisor Over Outside Investments

The Financial Industry Regulatory Authority (FINRA) has issued a one-year suspension and $12,500 fine to an Ohio-based advisor, William LeBoeuf, who worked at Merrill Lynch and Cetera Advisor Networks when the violations occurred.

December 1, 2021
SEC Charges Former Illinois Edward Jones Advisor With Fraud

The Securities and Exchange Commission (SEC) has charged a former Illinois-based investment advisor, Ronald Molo, with defrauding three clients out of at least $800,000.