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.
Tagged with "Eccleston Law"
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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
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.
Sanctuary Fined Over Supervisory Failures
Posted on July 15th, 2021 at 12:44 PM
Sanctuary Wealth has agreed in a settlement to pay at least $530,000 in fines and restitution over the firm’s supervisory failures.
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%.
Opinion: Three Ways Regulators Throw Advisors Under the Bus
Posted on July 7th, 2021 at 1:23 PM
Financial services is the only industry where you are guilty after being found innocent.
SEC Fines Guggenheim Over Anti-Whistleblower Policy
Posted on July 7th, 2021 at 12:02 PM
The Securities and Exchange Commission (SEC) fined Guggenheim Securities LCC at least $208,000 after discovering that the New York-based firm’s compliance manual contained language that restricted potential whistleblowers from speaking with regulators.
Canadian Regulators Report 2020 Spike in Securities Fraud
Posted on July 6th, 2021 at 8:24 AM
Canadian securities regulators reported substantial spikes in fraud, insider trading as well as other malfeasance during 2020
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