A FINRA arbitration panel has ordered Morgan Stanley to pay $843,000 in compensatory damages to a senior client residing in Florida for failing to protect her from financial fraud. As reported by ThinkAdvisor, the panel found the firm liable for negligence in a case that highlighted the growing risk of elder financial exploitation.
The number of brokers seeking to expunge customer complaints and other disclosures from their public records through FINRA’s arbitration forum has plunged 79 percent over the past year.
FINRA issued a reminder to financial advisors to carefully consider customers’ time horizons and risk tolerance, particularly when recommending investments using funds from a home equity loan, as reported by AdvisorHub.
Wells Fargo has agreed with U.S. banking regulators to enhance its financial crime risk management practices, including tightening controls over suspicious activity and money laundering.
A financial advisor affiliated with Equity Services Inc. (ESI) has agreed to a one-month suspension and a $5,000 fine after the Financial Industry Regulatory Authority (FINRA) found that someone else completed his required continuing education (CE) for a state insurance license renewal.
Vanguard Group has agreed to pay over $106 million to settle allegations by the U.S. Securities and Exchange Commission (SEC) that it misled retail investors regarding capital gains distributions and tax liabilities associated with its popular target-date retirement funds.
Scott Mason, former president of Rubicon Wealth Management, pleaded guilty to multiple fraud charges after federal prosecutors accused him of misappropriating over $17 million from clients, including his own widowed aunt.
The Financial Industry Regulatory Authority (FINRA) has released its annual regulatory oversight report, emphasizing key compliance concerns for broker-dealers.
Artificial intelligence (AI) tools, including large language models (LLMs), present both promising opportunities and notable risks for financial advisors. According to Financial Planning, as the popularity of AI grows in the financial advisory sector, regulators like FINRA and the SEC are examining potential issues closely.
Jefferies Financial Group recently terminated a team of Miami-based wealth advisors following allegations of improper money transfers and the use of unauthorized communication methods to conceal the activity.
I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!
The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.
FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.
Two former Morgan Stanley advisors in Hackensack, New Jersey have defeated Morgan Stanley’s initial effort to block them from soliciting clients, according to an August 15 order from New Jersey Superior Court.
