A Financial Industry Regulatory Authority Inc. ("FINRA") arbitration panel recently concluded an arbitration case involving a former Raymond James advisor with a promissory note balance. The case is unique because the arbitrators denied the rep an opportunity to present testimony, witnesses or evidence, as a sanction for failing to file his answer in a timely manner.
A recent survey conducted by the FINRA Investor Education Foundation found that investor knowledge is “low.”
Churning allegations involving a former Bank of America’s Merrill Lynch (“Merrill Lynch”) broker have cost the wirehouse $40 million, and it still faces another costly complaint from another customer related to the same broker.
James D’Meo, formerly a registered representative with Kenneth Jerome & Co., agreed to accept a bar from the securities industry after refusing to appear for a follow-up on-the-record interview (“OTR”) with FINRA. On November 21, 2019, D’Meo signed a Letter of Acceptance, Waiver and Consent (“AWC”) agreeing to a bar without admitting or denying FINRA’s findings.
Eugene Nathan Gordon, a former Morgan Stanley broker, agreed to a 90-day suspension by FINRA for allowing a wife to make withdrawals from her husband’s retirement account without written authorization from the husband.
The Financial Industry Regulatory Authority (“FINRA”) ordered UBS Financial Services Inc. to pay more than $11 million to a former supervisor who claimed the firm defamed him in explaining his departure.
The Financial Industry Regulatory Authority ("FINRA") has merged its examination operations and will review brokerages based on their business models next year.
The Financial Industry Regulatory Authority (“FINRA”) arbitration panel recently dismissed a temporary restraining order (“TRO”) against a former Edward Jones broker who initially agreed to the TRO prohibiting him from telling customers about his move to Ameriprise.
The Financial Industry Regulatory Authority (“FINRA”) suspended and fined Yasmin Bashirova, a Goldman Sachs investment banking representative for bringing a cell phone to her Securities Industry Essentials (“SIE”) Exam in April of 2019.
Not only there are concerns about senior investors, there are also concerns about senior advisors. About 65% of broker-dealers ("B-Ds") are "worried about the aging [of] registered representative population at their firms," according to the cell phone poll taken at the Senior Investor Protection Conference by the Financial Industry Regulatory Authority Inc. ("FINRA").
