Tagged with "FINRA"

Challenges Persist: Firms Struggle to Comply with Regulation Best Interest

Posted on February 20th, 2024 at 1:26 PM
Challenges Persist: Firms Struggle to Comply with Regulation Best Interest

FINRA's annual report for 2024 reveals a concerning trend among broker-dealers, with numerous instances of violations of Regulation Best Interest (Reg BI).

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FINRA Flags Violations in 70% of Broker-Dealers' Crypto Communications

Posted on February 19th, 2024 at 1:54 PM
FINRA Flags Violations in 70% of Broker-Dealers' Crypto Communications

During a two-year-old targeted examination, the Financial Industry Regulatory Authority (FINRA) has identified potential violations in 70 percent of broker-dealers' communications about cryptocurrencies.

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FINRA Adopts New Rules for Remote Inspections and Home Offices

Posted on February 14th, 2024 at 11:50 AM
FINRA Adopts New Rules for Remote Inspections and Home Offices

The Financial Industry Regulatory Authority (FINRA) has implemented new rules to enhance its remote inspections pilot program and address home offices as "residential supervisory locations."

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FINRA Sanctions Former Edward Jones Financial Advisor for Unauthorized Trades

Posted on February 12th, 2024 at 10:57 AM
FINRA Sanctions Former Edward Jones Financial Advisor for Unauthorized Trades

A former Edward Jones financial advisor in San Francisco, Jilena Yuen-Han Mok, has been fined and suspended by the Financial Industry Regulatory Authority (FINRA) for engaging in unauthorized trading.

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FINRA Issues Warning Amid Surge in "Investment Group" Frauds on Social Media

Posted on February 8th, 2024 at 2:27 PM
FINRA Issues Warning Amid Surge in

The Financial Industry Regulatory Authority (FINRA) reports a surge in investor complaints related to fraudulent "investment groups" exploiting social media platforms.

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FINRA Takes Action Against Former Cambridge Advisor for Annuity Exchange Violations

Posted on February 7th, 2024 at 3:10 PM
FINRA Takes Action Against Former Cambridge Advisor for Annuity Exchange Violations

Malay Kumar, a former advisor affiliated with Cambridge Investment Research, recently agreed to settle a disciplinary matter brought by FINRA. The AWC (Acceptance, Waiver, and Consent) reflects a $10,000 fine and a 12-month suspension. The settlement revealed that Kumar recommended a series of variable annuity exchanges that violated Reg BI.

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RIA EverNest Files Lawsuit to Sever Ties with Sanctuary Wealth Following FINRA Fine

Posted on February 6th, 2024 at 10:45 AM
RIA EverNest Files Lawsuit to Sever Ties with Sanctuary Wealth Following FINRA Fine

EverNest Financial Advisors, a Carmel, Indiana-based registered investment adviser, has filed a lawsuit seeking to reverse a deal where it sold a 20 percent stake to Sanctuary Wealth almost two years ago.

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Former Ameriprise Advisor Barred by FINRA for Non-Cooperation in Crypto Business Investigation

Posted on February 5th, 2024 at 1:15 PM
Former Ameriprise Advisor Barred by FINRA for Non-Cooperation in Crypto Business Investigation

A former Ameriprise Financial advisor, Eric V. Kubiak, has chosen an industry bar over full cooperation with a Financial Industry Regulatory Authority (FINRA) investigation into his undisclosed outside business activity involving crypto assets.

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FINRA Fines and Suspends Merrill Lynch Advisor Over Unauthorized Role as Estate Executor

Posted on February 1st, 2024 at 1:26 PM
FINRA Fines and Suspends Merrill Lynch Advisor Over Unauthorized Role as Estate Executor

Frederick R. Watson, a veteran advisor with 37 years of experience at Merrill Lynch, has been fined $10,000 and suspended for four months by the Financial Industry Regulatory Authority (FINRA).

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Former JPMorgan Advisor Agrees to Injunction Amid Solicitation Allegations

Posted on January 29th, 2024 at 1:06 PM
Former JPMorgan Advisor Agrees to Injunction Amid Solicitation Allegations

A former JPMorgan advisor sued last week, in connection with his transition to an independent practice with Kestra Private Wealth Services, has agreed to a stipulated injunction prohibiting him from soliciting his former customers.

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LATEST NEWS AND ARTICLES

February 21, 2024
SEC Alleges Fraud Against Morgan Stanley and Former Executive in Block Trading Business

As reported by the Wall Street Journal, the Securities and Exchange Commission (SEC) has charged Morgan Stanley & Co. LLC and its former head of equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information related to block trades.

February 20, 2024
Challenges Persist: Firms Struggle to Comply with Regulation Best Interest

FINRA's annual report for 2024 reveals a concerning trend among broker-dealers, with numerous instances of violations of Regulation Best Interest (Reg BI).

February 19, 2024
FINRA Flags Violations in 70% of Broker-Dealers' Crypto Communications

During a two-year-old targeted examination, the Financial Industry Regulatory Authority (FINRA) has identified potential violations in 70 percent of broker-dealers' communications about cryptocurrencies.