The Securities and Exchange Commission (SEC) has ordered two Kestra Financial divisions to pay a total of $10.3 million for failing to report compensation earned after investing client assets in certain mutual funds.
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Kestra Ordered to Pay $10.3 Million Fine Over Undisclosed Mutual Fund Compensation
Posted on July 22nd, 2021 at 3:15 PM
Georgia Advisor Fraudulently Invests $5.1 Million in Client Funds, SEC Alleges
Posted on July 21st, 2021 at 1:30 PM
According to a complaint filed by the Securities and Exchange Commission (SEC), a Georgia-based advisor allegedly persuaded two dozen clients to invest nearly $5.1 million in two unregistered funds that purportedly guaranteed growth and limited risk.
FINRA Arbitration Panel Orders Pershing to Pay Stanford Victims
Posted on July 20th, 2021 at 2:56 PM
The Financial Industry Regulatory Authority (FINRA) has ordered Pershing to pay $648,543 to an additional group of investors who claimed to have lost money in R. Allen Stanford’s Ponzi scheme.
Merrill Advisor Terminated for Failing to Disclose Outside Business Activity
Posted on July 19th, 2021 at 1:46 PM
Jorge Sonville, a Miami-based Merrill advisor, was terminated for allegedly engaging in an outside business activity (OBA) after 26 years at the firm
FINRA Bars Former Advisor After His Assistant Took CE Classes for Him
Posted on July 16th, 2021 at 1:31 PM
The Financial Industry Regulatory Authority (FINRA) has barred a former advisor who allegedly used an “impostor” to complete his FINRA Regulatory Element continuing education training and three non-FINRA CE courses in 2018.
FINRA Hits Robinhood with $70 Million Settlement over Supervisory Failures
Posted on July 14th, 2021 at 1:18 PM
The Financial Industry Regulatory Authority (FINRA) has finalized a record $70 million settlement with Robinhood Financial over widespread supervisory failures and outages.
SEC Charges Florida Advisor Over Multi-Year Trading Scheme
Posted on July 13th, 2021 at 1:17 PM
The Securities and Exchange Commission (SEC) is filing suit against a Miami-based investment advisor for allegedly conducting a “cherry-picking” trading scheme.
FINRA Bars Former Ladenburg Advisor Accused of Forging Client Signatures
Posted on July 12th, 2021 at 12:32 PM
An ex-Ladenburg Thalmann Triad Advisor, Nathan Katz, has been barred from the industry by the Financial Industry Regulatory Authority (FINRA) for allegedly forging client signatures and completing unauthorized trades in client accounts.
FINRA Profit Resumes as Fines and Restitution Jumped 44%
Posted on July 9th, 2021 at 4:28 PM
The Financial Industry Regulatory Authority (FINRA) reports that fines and restitution jumped by 44%.
FINRA Orders Merrill to Pay $11.65 Million For UIT Rollover Violations
Posted on July 8th, 2021 at 1:45 PM
The Financial Industry Regulatory Authority (FINRA) has ordered Merrill Lynch to pay $11.65 million as part of a settlement.
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