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Tagged with "eccleston"

FINRA Fines Independent Broker-Dealers Over Cybersecurity Lapses

Posted on April 22nd, 2024 at 11:31 AM
FINRA Fines Independent Broker-Dealers Over Cybersecurity Lapses

The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity deficiencies that led to hackers accessing the private information of more than 32,000 customers.

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WealthFeed Raises Funds for AI-Driven Lead Generation Tool

Posted on April 19th, 2024 at 2:04 PM
WealthFeed Raises Funds for AI-Driven Lead Generation Tool

WealthFeed leverages proprietary AI technology to collect nine real-time financial data points, including business sales, capital raises, inheritances, and job changes.

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SEC Fines Target Off-Channel Communications

Posted on April 18th, 2024 at 2:15 PM
SEC Fines Target Off-Channel Communications

The Securities and Exchange Commission (SEC) is ramping up its enforcement efforts targeting off-channel communications, particularly text messages, among investment advisory firms.

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B. Riley Financial Again Delays Filing Audited Results

Posted on April 17th, 2024 at 9:44 AM
B. Riley Financial Again Delays Filing Audited Results

B. Riley Financial Inc. has encountered a setback in filing its audited results within an extended timeframe, adding to existing pressure amid concerns raised by short sellers regarding its association with a former business partner.

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Former Wells Fargo Advisor Accepts Industry Bar Amidst Misuse of Client Funds Allegations

Posted on April 16th, 2024 at 2:03 PM
Former Wells Fargo Advisor Accepts Industry Bar Amidst Misuse of Client Funds Allegations

A former advisor with Wells Fargo Advisors Financial Network (FiNet) in Chicago, Jayson R. Pocius, has agreed to accept an industry bar rather than cooperate with a
Financial Industry Regulatory Authority (FINRA) investigation into allegations of misusing client funds.

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Commonwealth Financial Network Faces Potential Damages Amid SEC Lawsuit

Posted on April 15th, 2024 at 1:37 PM
Commonwealth Financial Network Faces Potential Damages Amid SEC Lawsuit

Commonwealth Financial Network is under fire, as it faces potential damages amounting to $111.5 million from a Securities and Exchange Commission (SEC) complaint filed nearly five years ago.

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FINRA Penalizes Ex-Raymond James Advisor for Document Alterations

Posted on April 12th, 2024 at 11:32 AM
FINRA Penalizes Ex-Raymond James Advisor for Document Alterations

A former Raymond James financial advisor faced a $5,000 fine and a four-month suspension from the Financial Industry Regulatory Authority (FINRA) for allegedly falsifying 25 documents, as per a settlement letter released recently.

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Cantor Fitzgerald LP Sues Former Bankers Over Alleged Client Poaching

Posted on April 11th, 2024 at 3:36 PM
Cantor Fitzgerald LP Sues Former Bankers Over Alleged Client Poaching

Cantor Fitzgerald LP has initiated legal action against PEI Global Partners Holdings LLC, a firm founded by a group of its former investment bankers, alleging the illicit solicitation and theft of valuable clients, potentially worth millions of dollars in profit.

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Stifel Financial Settles with FINRA Over Advisor Supervision Failures

Posted on April 10th, 2024 at 11:22 AM
Stifel Financial Settles with FINRA Over Advisor Supervision Failures

Stifel Financial has settled with FINRA, agreeing to a censure and a nearly $460,000 payment to resolve allegations of inadequate supervision of two advisors, as detailed in an Acceptance, Waiver, and Consent (“AWC”) finalized recently.

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FINRA Takes Action Against Advisor for Violating Regulation Best Interest

Posted on April 9th, 2024 at 3:46 PM
FINRA Takes Action Against Advisor for Violating Regulation Best Interest

The Financial Industry Regulatory Authority (FINRA) has sanctioned a former advisor at Network 1 Financial Securities for breaching Regulation Best Interest (Reg BI) through excessive trading in a client's account.

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