Tagged with "FINRA"

Former LPL Advisor Suspended For Completing 22 Trades Absent Client Consent

Posted on October 27th, 2021 at 12:14 PM
Former LPL Advisor Suspended For Completing 22 Trades Absent Client Consent

The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former LPL advisor who allegedly completed 22 trades on behalf of a client without obtaining written consent. FINRA has issued a $5,000 fine and has suspended Michael Hartlett for 10 days.

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Former Advisor Fails To Reverse Bar After Alleged $1 Million Theft From RBC

Posted on October 26th, 2021 at 1:47 PM
Former Advisor Fails To Reverse Bar After Alleged $1 Million Theft From RBC

A former RBC Wealth Management advisor lost his bid to reverse an industry bar, according to an appellate decision issued by the Financial Industry Regulatory Authority (FINRA).

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FINRA Targets SPACs in Most Recent Exam Sweep

Posted on October 19th, 2021 at 12:26 PM
FINRA Targets SPACs in Most Recent Exam Sweep

The Financial Industry Regulatory Authority (FINRA) has begun an examination sweep of advisors’ involvement with special purpose acquisition companies (SPACs).

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FINRA Bars Former LPL Advisor Who Allegedly Misappropriated Elderly Client’s Funds

Posted on October 15th, 2021 at 11:09 AM
FINRA Bars Former LPL Advisor Who Allegedly Misappropriated Elderly Client’s Funds

The Financial Industry Regulatory Authority (FINRA) has barred a former LPL advisor who allegedly misappropriated a senior client’s funds and subsequently failed to cooperate in FINRA’s investigation.

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New Jersey Advisor Agrees to Bar Related to Elderly Theft Charges

Posted on October 12th, 2021 at 1:11 PM
New Jersey Advisor Agrees to Bar Related to Elderly Theft Charges

The Financial Industry Regulatory Authority (FINRA) barred a New Jersey financial advisor from the industry after the advisor was charged with attempted theft of the elderly in 2020. Jeffrey Dampf received a bar as part of a settlement after Dampf failed to cooperate in FINRA’s investigation into the matter.

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FINRA To Enforce New “Restricted Firm” Rules

Posted on October 11th, 2021 at 3:16 PM
FINRA To Enforce New “Restricted Firm” Rules

The Financial Industry Regulatory Authority (FINRA) has announced the adoption of new rules aimed at cracking down on advisory firms with a substantial history of misconduct.

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UBS Prevails in One “YES” Case, But Loses Another

Posted on October 6th, 2021 at 12:44 PM
UBS Prevails in One “YES” Case, But Loses Another

UBS Wealth Management has been involved in several arbitration proceedings over its proprietary options-spread strategy, YES (Yield Enhancement Strategy), which prompted numerous client complaints after a period of market volatility.

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FINRA Suspends Ex-Wells Fargo Advisor Over Outside Brokerage Accounts

Posted on October 5th, 2021 at 1:32 PM
FINRA Suspends Ex-Wells Fargo Advisor Over Outside Brokerage Accounts

A former St. Louis-based Wells Fargo advisor has been suspended for three months and fined $2,500 by the Financial Industry Regulatory Authority (FINRA) for holding personal outside brokerage accounts absent the firm’s approval.

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FINRA Suspends Raymond James Advisor For Accepting Large Gifts From Elderly Client

Posted on September 28th, 2021 at 2:32 PM
FINRA Suspends Raymond James Advisor For Accepting Large Gifts From Elderly Client

The Financial Industry Regulatory Authority (FINRA) has suspended and imposed a $10,000 fine on a 51-year industry veteran who accepted unapproved cash gifts from an elderly client.

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FINRA Suspends Former Merrill Advisor For Failing to Disclose Felony Drug Charges

Posted on September 27th, 2021 at 2:30 PM
FINRA Suspends Former Merrill Advisor For Failing to Disclose Felony Drug Charges

The Financial Industry Regulatory Authority (FINRA) suspended a former Merrill Lynch advisor and fined him $5,000 for failing to disclose two felony drug charges on U4 forms.

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LATEST NEWS AND ARTICLES

October 27, 2021
Former LPL Advisor Suspended For Completing 22 Trades Absent Client Consent

The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former LPL advisor who allegedly completed 22 trades on behalf of a client without obtaining written consent. FINRA has issued a $5,000 fine and has suspended Michael Hartlett for 10 days.

October 26, 2021
Former Advisor Fails To Reverse Bar After Alleged $1 Million Theft From RBC

A former RBC Wealth Management advisor lost his bid to reverse an industry bar, according to an appellate decision issued by the Financial Industry Regulatory Authority (FINRA).

October 25, 2021
Firms Walk Thin Regulatory Line In Referring Self-Directed Clients To Advisors

While online trading platforms have surged in popularity during the pandemic, brokerage firms view self-directed investors as a source of new clients.