FINRA Dispute Resolution Services announced that it will open sixty-two (62) of its sixty-nine (69) arbitration hearing locations in July. FINRA also plans to continue honoring requests for remote proceedings.
Tagged with "FINRA"
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Arkansas-Based Advisor Suspended Over Side Business Selling RVs
Posted on May 10th, 2021 at 11:32 AM
According to a letter of settlement, the Financial Industry Regulatory Authority (FINRA) has fined and suspended an Arkansas-based advisor over sales of recreational vehicles.
FINRA Suspends Former Morgan Stanley Advisor Who Failed to Disclose Rental Property
Posted on May 6th, 2021 at 9:25 AM
The Financial Industry Regulatory Authority (FINRA) has suspended Steven Melen for four months and fined him $7,500 for failure to disclose his beachfront rental property in Panama.
FINRA Suspends Advisor Named As Customer Trustee
Posted on May 5th, 2021 at 12:16 AM
The Financial Industry Regulatory Authority (FINRA) has suspended Jimmie Summers for circumventing the procedures at Cetera Financial Group. Summers signed a FINRA Letter of Acceptance, Waiver, and Consent (AWC), in which he consented to a 45-day suspension and $5,000 fine.
Form U4 and U5 Issues Are Top Source of FINRA Investigations
Posted on April 26th, 2021 at 9:29 AM
The majority of enforcement actions carried out by the Financial Industry Regulatory Authority (FINRA) focuses on advisors who are “bad actors” and have made “clear cut” violations of FINRA member rules and securities laws.
FINRA Bars Former Goldman Sachs Banker After Expense Report Issues
Posted on April 20th, 2021 at 10:08 AM
Jared Ailstock was discharged from Goldman Sachs after he faced allegations of inaccurate business expense reimbursement reports.
Former LPL Advisor Suspended For Helping Customers Evade Fees
Posted on April 16th, 2021 at 9:20 AM
According to a recent FINRA AWC (Acceptance, Waiver and Consent), Raymond Velasco helped four customers avoid $10,000 in fees for surrendering variable annuities by misrepresenting their employment status on retirement plan documents.
Purshe Kaplan to Pay $1.6 Million Settlement
Posted on April 14th, 2021 at 10:06 AM
Purshe Kaplan Sterling Investments Inc., agreed to pay 50 clients who had filed arbitration claims with the Financial Industry Regulatory Authority (FINRA).
Cambridge to Pay $3.5 Million In Restitution To Settle FINRA Mutual Fund Case
Posted on April 13th, 2021 at 9:22 AM
Cambridge Investment Research failed to supervise the recommendations of a mutual fund by its 4,400 financial advisors in 2,500 offices, according to a settlement agreement (Acceptance, Waiver and Consent or “AWC”) filed with the Financial Industry Regulatory Authority (FINRA).
FINRA Fines Former Advisor For Failure to Disclose Conviction
Posted on April 12th, 2021 at 9:16 AM
The Financial Industry Regulatory Authority (FINRA) fined a former advisor at Primerica subsidiary PFS Investments (PFSI).
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