Tagged with "BrokerCheck"

FINRA Proposes New BrokerCheck Rule for Dually Registered Advisers

Posted on April 29th, 2020 at 5:17 PM
FINRA Proposes New BrokerCheck Rule for Dually Registered Advisers

The Financial Industry Regulatory Authority (“FINRA”) filed a rule proposal with the U.S. Securities and Exchange Commission (“SEC”) aimed at increasing investor protection.  The proposal would allow FINRA’s BrokerCheck to display the same information available on the SEC’s Investment Adviser Public Disclosure (“IAPD”) website for brokers who are also registered as investment advisers. BrokerCheck and the IAPD provide a wealth of information about registered persons, including the individual’s disciplinary history.  Earlier this year the SEC made changes to the IAPD so that it displays all information found on BrokerCheck for investment advisers who are dually registered as brokers.

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Former Wells Fargo Advisors Team Wins Sweeping Expungement of Their Forms U-5

Posted on January 22nd, 2020 at 4:09 PM
Former Wells Fargo Advisors Team Wins Sweeping Expungement of Their Forms U-5

On January 15th, a FINRA arbitration panel in Indianapolis recommended expungement of Forms U-5, finding that Wells Fargo Advisors Financial Network (“Wells Fargo”) had disaffiliated with a team of financial advisors “as a result of fabricated investigatory findings.”

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Former Philadelphia Eagles' Linebacker Found Guilty for Fraud Once Again

Posted on November 18th, 2019 at 2:01 PM
Former Philadelphia Eagles' Linebacker Found Guilty for Fraud Once Again

A federal judge has found former Philadelphia Eagles' linebacker guilty for a second time of defrauding his former coaches and other investors.

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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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FINRA Bars Former Morgan Stanley Broker For Refusing to Furnish Documents

Posted on September 27th, 2019 at 4:49 PM
FINRA Bars Former Morgan Stanley Broker For Refusing to Furnish Documents

The Financial Industry Regulatory Authority Inc. ("FINRA") recently barred a former Morgan Stanley broker from the brokerage industry for refusing to hand over requested documents and information around his alleged theft of client money.

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SEC charges Chicago Financial Adviser with $1.7 Million Fraud

Posted on August 30th, 2019 at 3:57 PM
SEC charges Chicago Financial Adviser with $1.7 Million Fraud

The Securities and Exchange Commission ("SEC") charges Marcus Boggs, a former Chicago investment adviser at the Chicago office of Merrill Lynch, with stealing over $1.7 million from at least three of his clients.

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Georgia Court Ruling Sure to Cause Reps to Quickly Move Assets upon Resignation

Posted on June 27th, 2019 at 3:07 PM
Georgia Court Ruling Sure to Cause Reps to Quickly Move Assets upon Resignation

A Georgia court judge has granted Morgan’s Stanley a request to prevent a runaway broker from contacting former customers. However, the court’s ruling will allow the broker to work with immediate family members and customers who already signed account transfer forms.

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FINRA Bars Former Cetera Broker George Merhoff

Posted on June 20th, 2019 at 10:00 AM
FINRA Bars Former Cetera Broker George Merhoff

The Financial Industry Regulatory Authority (“FINRA”) recently barred George C. Merhoff Jr. from the securities industry for refusing to cooperate in FINRA’s Rule 8210 inquiry.

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FINRA Bars Nina Jessee after Receiving 23 Customer Complaints

Posted on June 18th, 2019 at 12:42 PM
FINRA Bars Nina Jessee after Receiving 23 Customer Complaints

The Financial Industry Regulatory Authority (“FINRA”) recently barred Nina S. Jesse from the securities industry for refusing to cooperate in FINRA’s Rule 8210 inquiry.

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FINRA Bars Former UBS Adviser Nicolas J. Barrios for Refusing to Provide Documents

Posted on June 17th, 2019 at 4:28 PM
FINRA Bars Former UBS Adviser Nicolas J. Barrios for Refusing to Provide Documents

The Financial Industry Regulatory Authority (“FINRA”) recently barred Nicolas J. Barrios (CRD No. 2122824) from the industry for refusing to provide documents and information requested by FINRA in connection with a fraud investigation.

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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.