The Financial Industry Regulatory Authority (FINRA) has fined LPL Financial $150,000 for failing to adequately supervise an advisor who later was found to have perpetuated a Ponzi scheme.
Financial advisory firms are failing to design and maintain effective policies and procedures to restrict hackers from stealing clients’ personal and confidential information, according to a risk alert published by the Securities and Exchange Commission (SEC).
Bradley Goodbred, a former LPL advisor who was recently charged with theft by the Securities and Exchange Commission (SEC), was arrested by suburban Chicago police last week.
GWG Holdings announced its bankruptcy earlier this year, which has resulted in the resignations of multiple members of its board of directors.
The Financial Industry Regulatory Authority (FINRA) has issued a $1.3 million fine to the four Advisor Group firms, FSC Securities, Royal Alliance Associates, SagePoint Financial, and Woodbury Financial Services, for selling private placements issued by GPB Capital Holdings.
The Securities and Exchange Commission (SEC) has charged FTX founder Sam Bankman-Fried with eight criminal counts, including conspiracy and wire fraud, for allegedly misappropriating billions of dollars in customer funds.
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay a former client $11.7 million over an allegedly unauthorized call options strategy.
Hartman vREIT XXXI, a non-traded real estate investment trust, has announced its management’s “substantial doubt about the company’s ability to continue as a going concern”, according to its most recent quarterly report filed with the Securities and Exchange Commission (SEC).
The Financial Industry Regulatory Authority (FINRA) has released an announcement reminding firms that recommend options trading for clients to be constantly monitoring for “red flags” on customer applications.
The Financial Industry Regulatory Authority (FINRA) has ordered Morgan Stanley to pay $697,897, including a $200,000 fine and $497,897 in restitution, for failing to adhere to its own procedures for supervising its advisors’ high-risk recommendations.
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The Securities and Exchange Commission (SEC) plans to overhaul its public offering framework to make it easier for smaller companies to access the public markets, according to remarks SEC Chairman Paul Atkins delivered at the New York Stock Exchange, as reported by Bloomberg Law.
The Financial Industry Regulatory Authority (FINRA) has issued a renewed warning to the industry about the risks consumers face when they exit registered index-linked annuities (RILAs) before the end of the contract term.
The Financial Industry Regulatory Authority (FINRA) fined and suspended a Wells Fargo Advisors representative in Waco, Texas, after finding that he submitted fictitious business expense claims, according to a FINRA Acceptance, Waiver and Consent (AWC) letter.
