UBS Wealth Management USA has filed a petition in federal court to vacate a nearly $95 million FINRA arbitration award, arguing the decision overstepped legal bounds and imposed punitive damages that defy Iowa law, as reported by AdvisorHub.
A federal jury in Massachusetts has found investment advisor Jeffrey Cutter and his firm, Cutter Financial Group, liable for failing to disclose significant commissions and conflicts of interest tied to an annuity replacement strategy sold to clients.
FINRA has barred Mario L. Martinez, a market leader with Merrill Edge in Fort Lauderdale, Florida, after he declined to cooperate with a regulatory investigation. According to AdvisorHub, the probe began following a tip that Martinez
accepted a loan from a client, among other alleged misconduct.
Revenue sharing remains one of the wealth management industry’s most controversial and opaque practices.
FINRA has fined a former LPL Financial advisor and suspended him for three months after allegations surfaced that he operated a real estate development business without his firm’s approval.
FINRA has sanctioned former registered representative Thomas A. Rapp for engaging in undisclosed outside business and private securities transactions while associated with M Holdings. The enforcement action stems from a Letter of Acceptance, Waiver and Consent (AWC) Rapp submitted under FINRA Rule 9216, resolving the matter without admitting or denying FINRA’s findings.
The Securities and Exchange Commission (“SEC”) has filed charges against Kenneth W. Alexander II, Robert D. Welsh, and Caedrynn E. Conner, all Dallas-Fort Worth residents, for orchestrating a Ponzi scheme that raised at least $91 million from over 200 investors.
B. Riley Financial Inc. continues to draw regulatory attention, with the firm recently disclosing that FINRA has launched a cause examination into its wealth management division. According to AdvisorHub, the firm revealed the inquiry in a filing with the U.S. Securities and Exchange Commission.
A federal judge has rejected a proposed $40 million class-action settlement with Vanguard, finding that the deal offered little to no real value to harmed investors compared to a separate settlement the firm reached with the Securities and Exchange Commission ("SEC"), according to Barron’s.
Morgan Stanley has terminated advisor Erich A. Canseco, a 17-year industry veteran whose Houston-based team managed $1 billion in assets and earned recognition on Forbes’ 2024 Best-In-State rankings.
You were most helpful with my FINRA deposition. You are a good lawyer and a good person.
The Securities and Exchange Commission (SEC) actively is investigating allegations of fraud involving private credit firms, signaling continued regulatory scrutiny of the rapidly expanding sector.
The Financial Industry Regulatory Authority (FINRA) has adopted amendments to its Code of Arbitration Procedure to expedite arbitration proceedings for certain eligible parties, according to regulatory updates.
The Financial Industry Regulatory Authority (FINRA) has censured Cambridge Investment Research and ordered the firm to pay nearly $280,000 after finding that it failed to properly supervise variable annuity exchanges, according to AdvisorHub.
