AdvisorHub reports that the Securities and Exchange Commission’s Investor Advisory Committee has finalized a recommendation urging the Securities and Exchange Commission (“SEC”) to rein in the use of mandatory arbitration clauses by registered investment advisers (“RIA”s).
A coalition of state securities regulators has ordered five broker-dealers — including Edward Jones, LPL Financial, RBC, Stifel, and TD Ameritrade — to pay almost $9.9 million in penalties for overcharging customers on small-value trades.
The Securities and Exchange Commission (“SEC”) has charged David A. Nagler and his firm, New Line Capital LLC, with defrauding clients through deceptive fee disclosures and undisclosed conflicts of interest.
FINRA has fined and suspended veteran advisor Kenneth J. Malm for accepting a $1 million inheritance from a client without receiving the necessary firm approval.
The Securities and Exchange Commission (“SEC”) has charged Marine Corps veteran Christopher Aubin with fraud, accusing him of running a $2.5 million Ponzi scheme that defrauded dozens of investors, including several of his former military colleagues.
The Financial Industry Regulatory Authority (“FINRA”) has sanctioned Jose Antonio “Tony” Navarro for selling unapproved investments and borrowing funds from clients.
Terrence Chalk, an unregistered investment advisor who operated under the alias “Dr. Cash,” has been sentenced to three years in prison for orchestrating a fraudulent investment scheme that defrauded millions from unsuspecting victims.
The Financial Industry Regulatory Authority (“FINRA”) has fined AAG Capital $100,000 and ordered the firm to pay nearly $39,000 in restitution after finding it violated Regulation Best Interest (“Reg BI”) by recommending costly registered index-linked annuities (“RILAs") to retail clients in unsuitable product exchanges.
The Securities and Exchange Commission (“SEC”) has charged Kenneth Mattson, former CEO of LeFever Mattson, with orchestrating a $46 million investment fraud scheme that targeted approximately 200 investors, many of them retired senior citizens
from his church community in California.
In a significant development in the GPB Capital fraud litigation, several audit firms have agreed to pay a combined $46 million to settle claims tied to their alleged involvement in the $1.8 billion scheme that impacted roughly 15,000 investors, as reported by DI Wire.
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A former registered representative with Raymond James has been barred from the securities industry after refusing to cooperate with a Financial Industry Regulatory Authority (FINRA) investigation into alleged unauthorized trading activity.
The Financial Industry Regulatory Authority (FINRA) recently released its Quarterly Regulatory Policy Agenda, offering a detailed view of its rulemaking priorities, pending proposals, and recently approved regulatory changes.
Commonwealth Financial Network has agreed to pay $5 million to resolve a long-standing conflict of interest case brought by the Securities and Exchange Commission, according to reporting by ThinkAdvisor.
