Financial Industry Regulatory Authority (FINRA) arbitrators have recently ruled in favor of an options trader, ordering Fidelity Brokerage Services to pay nearly $4 million in damages. This decision stems from allegations of mishandling transactions in a margin account, resulting in significant losses for the trader.
The Financial Industry Regulatory Authority (FINRA) has recently intensified its enforcement efforts to address a concerning issue related to hybrid brokers and investment advisors exploiting their dual status to maximize customer fees and commissions.
The Certified Financial Planner Board (CFP Board) recently announced the adoption of the revised Procedural Rules. These rules, which will come into effect on September 1, 2023, aim to establish fair and credible processes for investigating misconduct and enforcing the CFP Board's Code of Ethics and Standards of Conduct.
William King, a top-ranked advisor, voluntarily resigned last month after receiving at least ten customer complaints since August.
Wells Fargo has agreed to pay $1 billion to settle a shareholder lawsuit that accused the company of making misleading statements related to its compliance with federal consent orders following the unauthorized customer account scandal in 2016.
A former Chicago-based commodities trader, Phillip Galles, has been charged with a single count of wire fraud for allegedly misappropriating $2 million after informing clients that the funds would be invested in commodity futures.
The Financial Industry Regulatory Authority (FINRA) has sanctioned a New York-based financial advisory firm, SW Financial, and its Chief Executive Officer for multiple violations of Regulation Best Interest (Reg BI).
Financial advisory firms and company executives continue to promote organizing as a team, which supposedly creates an improved service model for clients.
A federal judge has upheld and expanded an injunction against several former USI financial advisors who departed for Lockton.
The Securities and Exchange Commission (SEC) has charged Roy Hill and Eric Shelly along with two entities under their ownership, Clean Energy Technology Association (CETA) and Freedom Impact Consulting (FIC), for allegedly organizing a fraudulent offering that raised nearly $155 million from at least 500 investors.
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According to ThinkAdvisor, Stifel Financial now faces a proposed class action lawsuit that accuses the firm of mismanaging its profit sharing 401(k) retirement plan in violation of the Employee Retirement Income Security Act (ERISA).
LPL Financial and Ameriprise Financial Services recently notified certain clients about separate cybersecurity incidents that exposed private information and, in one case, led to unauthorized trading activity.
A federal bankruptcy court in Fort Worth has ordered Emerson Equity to produce documents connected to the sale of private securities issued by Inspired Healthcare Capital, according to InvestmentNews.
