Federal prosecutors have indicted a former Edward Jones financial advisor on charges of wire fraud, mail fraud, money laundering, and tax violations after he allegedly stole more than $920,000 from a 77-year-old widowed client.
FINRA has fined and censured independent broker-dealer Sanctuary Wealth Management $150,000 for failing to establish an adequate anti-money laundering (AML) program to detect and report suspicious transactions.
Cambridge Investment Research Advisors (CIRA) has agreed to pay $15 million to settle allegations brought by the Securities and Exchange Commission (SEC), which accused the firm of failing to disclose multiple conflicts of interest in its investment recommendations.
Merrill Lynch has terminated Daniel G. Diaz, a 37-year industry veteran, for refusing to apply commission discounts to certain client accounts as instructed by management, according to his Central Registration Depository (CRD) record.
Roger A. Gallagher has accepted an industry bar from FINRA rather than cooperate with a regulatory investigation. According to a FINRA Acceptance, Waiver, and Consent letter (“AWC”).
The Securities and Exchange Commission (SEC) has finalized a cease-and-desist proceeding against Rosedale, a former SEC-registered investment adviser, for violations of the Investment Advisers Act of 1940.
According to InvestmentNews, the Securities and Exchange Commission (“SEC”) has charged registered investment advisor Upright Financial Corp. and its founder, David Yow Shang Chiueh, for violating a prior settlement agreement and continuing a pattern of misconduct that allegedly defrauded investors and breached fiduciary duties.
The Financial Industry Regulatory Authority (“FINRA”) has submitted a proposed rule change to the SEC aimed at speeding up arbitration proceedings for parties who are elderly or suffering from serious health conditions.
Massachusetts Secretary of State Bill Galvin has issued a subpoena to Robinhood Markets Inc., seeking information on the firm’s prediction-markets business and its potential links to gambling.
The Securities and Exchange Commission (SEC) has charged Alan Burak, founder of Never Alone Capital LLC, with orchestrating a fraudulent investment scheme that raised approximately $4 million from investors.
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A Long Island-based registered investment adviser and two of its senior executives now face parallel civil and criminal proceedings tied to an alleged scheme involving conflicted private fund investments, as reported by InvestmentNews.
A Financial Industry Regulatory (FINRA) arbitration panel has ordered Fidelity Brokerage Services to pay approximately $1.3 million to two groups of clients who alleged misconduct tied to structured product investments, according to ThinkAdvisor.
