Tagged with "covid"

FINRA Bars Another Advisor In COVID Relief Loan Investigation

Posted on November 4th, 2021 at 1:44 PM
FINRA Bars Another Advisor In COVID Relief Loan Investigation

The Financial Industry Regulatory Authority (FINRA) has barred yet another Merrill Lynch advisor who improperly applied for a COVID-19 Economic Injury Disaster Loan (EIDL) and subsequently failed to cooperate with FINRA’s investigation.

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Former Merrill Advisor Barred by FINRA For Failure to Cooperate in COVID Relief Loan Investigation

Posted on September 14th, 2021 at 12:25 PM
Former Merrill Advisor Barred by FINRA For Failure to Cooperate in COVID Relief Loan Investigation

The Financial Industry Regulatory Authority (FINRA) has barred a former Merrill Lynch advisor who failed to cooperate with a probe revolving around his application for a COVID relief loan. 

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Edward Jones Discharges Financial Advisor For Violating Covid Protocol

Posted on June 15th, 2021 at 10:30 AM
Edward Jones Discharges Financial Advisor For Violating Covid Protocol

Edward Jones fired Chad Klassen in April for “failure to follow firm Covid policy”, according to a U-5 termination filing

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Insurance Litigation Yields Diverse Results As COVID-19 Pandemic Stretches into the Second Year

Posted on April 7th, 2021 at 12:25 PM
Insurance Litigation Yields Diverse Results As COVID-19 Pandemic Stretches into the Second Year

As the COVID-19 pandemic stretches into the second year, many businesses continue to struggle with lost revenue from past or current shutdown orders and reduced-capacity limitations.

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Advisors Turn to Alternatives for Safety

Posted on February 19th, 2021 at 10:03 AM
Advisors Turn to Alternatives for Safety

Financial advisors have embraced a broader perspective on the record-level valuations occurring against the backdrop of the COVID-19 pandemic.

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Florida Based Broker Barred for Improperly Seeking Virus Relief Loan

Posted on February 16th, 2021 at 10:54 AM
Florida Based Broker Barred for Improperly Seeking Virus Relief Loan

The Financial Industry Regulatory Authority (FINRA) has barred a former Wells Fargo bank-based broker accused of improperly seeking a coronavirus relief loan.

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FINRA Investigates Recipients of PPP Loans

Posted on January 28th, 2021 at 3:55 PM
FINRA Investigates Recipients of PPP Loans

As the effects of the COVID-19 pandemic took hold in the spring of 2020, the U.S. Small Business Administration offered a loan program for businesses called the Paycheck Protection Program (“PPP”).

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Use of WhatsApp Causes Problems for Firms and Their Advisors

Posted on October 21st, 2020 at 10:20 AM
Use of WhatsApp Causes Problems for Firms and Their Advisors

The COVID-19 pandemic forced many in the financial industry to adapt their operations to remote working.

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FINRA Provides Guidance on Virtual Events

Posted on August 5th, 2020 at 9:21 AM
FINRA Provides Guidance on Virtual Events

The COVID-19 pandemic has required a change in business operations throughout the financial industry. What used to be done in-person, now must be done remotely.  To help guide advisors, The Financial Industry Regulatory Authority (“FINRA”) recently released an FAQ on virtual business entertainment events and meetings. 

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Judge Relies on COVID Pandemic to Deny Motion for TRO Filed Against Brokers

Posted on May 20th, 2020 at 3:11 PM
Judge Relies on COVID Pandemic to Deny Motion for TRO Filed Against Brokers

A federal court judge in Florida denied Regions Bank’s motion to reinstate a temporary restraining order (“TRO”) filed against the bank’s former financial advisors, Michael Montalvo and Mauricio R. Cardenas.  Regions Bank sought a TRO in an effort to restrain Montalvo and Cardenas from soliciting former clients serviced at Regions Bank.

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LATEST NEWS AND ARTICLES

May 8, 2024
J.P. Morgan Securities Ordered to Pay Damages Over Defamation Claims

J.P. Morgan Securities has been directed to pay $250,000 in damages to a New York financial advisor following allegations of defamation in a regulatory filing upon his departure from the firm in 2022.

May 7, 2024
UBS Advisors Ordered to Pay Nearly $334,000 in Dispute with AllianceBernstein

An arbitration award revealed that two UBS advisors in Philadelphia, Elijah Dornstreich and Ryan DePaul, are required to pay approximately $334,000 in damages, legal fees, and costs to their former firm, AllianceBernstein, due to a dispute over customer solicitation.

May 6, 2024
SEC Cracks Down on Misuse of Artificial Intelligence

The U.S. Securities and Exchange Commission (SEC) has taken action against two money managers, Delphia (USA) Inc. and Global Predictions Inc., for allegedly making false and misleading statements regarding their utilization of artificial intelligence (AI) technology.