Tagged with "FINRA"

Former Merrill Lynch Advisor Sanctioned by FINRA for Unauthorized Trades

Posted on February 10th, 2025 at 1:48 PM
Former Merrill Lynch Advisor Sanctioned by FINRA for Unauthorized Trades

FINRA has fined Anthony J. Seifert, a former Merrill Lynch advisor based in Mount Pleasant, South Carolina, $5,000 and suspended him for 20 days.

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Wells Fargo Faces $3.37 Million FINRA Award Over Alleged Elder Exploitation

Posted on February 4th, 2025 at 4:37 PM
Wells Fargo Faces $3.37 Million FINRA Award Over Alleged Elder Exploitation

A FINRA arbitration panel has ordered Wells Fargo Clearing Services and its advisor, Stephen L. Smith, to pay approximately $3.37 million in damages to the estate of Genell Mathis.

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UBS Settles FINRA Claims Over Supervision of Short-Term Preferred Stock Trades

Posted on January 31st, 2025 at 2:21 PM
UBS Settles FINRA Claims Over Supervision of Short-Term Preferred Stock Trades

According to AdvisorHub, UBS Wealth Management USA’s broker-dealer has agreed to pay $3.5 million in sanctions over allegations of supervisory failures related to short-term trading of syndicate preferred stock.

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FINRA to Revise Outside Business Activities Rules

Posted on January 22nd, 2025 at 10:46 AM
FINRA to Revise Outside Business Activities Rules

The Financial Industry Regulatory Authority (FINRA) is seeking to overhaul its rules on outside business activities (OBA) and private securities transactions.

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FINRA Orders $8.2 Million in Customer Restitution Over Mutual Fund Fee Errors

Posted on January 21st, 2025 at 3:17 PM
FINRA Orders $8.2 Million in Customer Restitution Over Mutual Fund Fee Errors

FINRA has required Edward Jones, Osaic Wealth, and Cambridge Investment Research to reimburse customers a combined total of more than $8.2 million for improperly charged mutual fund sales fees.

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FINRA Suspends and Fines Advisor for Misleading L Bond Sales

Posted on January 17th, 2025 at 2:30 PM
FINRA Suspends and Fines Advisor for Misleading L Bond Sales

The Financial Industry Regulatory Authority (FINRA) has suspended and fined Alan Mason for violating Regulation Best Interest by recommending high-risk L bonds to a retail customer.

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FINRA Arbitration Panel Clears Advisor's Record of Defamatory Allegations

Posted on January 10th, 2025 at 2:14 PM
FINRA Arbitration Panel Clears Advisor's Record of Defamatory Allegations

A FINRA arbitration panel has ruled in favor of Mary J. Howard, a former RBC Wealth Management advisor, allowing her to expunge defamatory allegations from her Form U-5 termination record.

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FINRA Sanctions Over 60 Advisors for Continuing Education Violations

Posted on December 20th, 2024 at 5:17 PM
FINRA Sanctions Over 60 Advisors for Continuing Education Violations

FINRA has disciplined 62 advisors for cheating on New York’s continuing education (CE) requirements tied to insurance license renewals. 

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FINRA Arbitrators Award Former RBC Advisor $9.7 Million in Gender and Age Discrimination Case

Posted on November 15th, 2024 at 2:20 PM
FINRA Arbitrators Award Former RBC Advisor $9.7 Million in Gender and Age Discrimination Case

FINRA arbitrators recently awarded a former RBC Wealth Management advisor nearly $9.7 million in damages for age and gender discrimination claims. 

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FINRA Bars Fromer Merrill Lynch Advisor Over Relationship with Elderly Client

Posted on November 13th, 2024 at 10:23 AM
FINRA Bars Fromer Merrill Lynch Advisor Over Relationship with Elderly Client

The Financial Industry Regulatory Authority (FINRA) has barred Imdadur “Gino” Rahman, a former Merrill Lynch advisor for multiple compliance violations involving his relationship with an elderly client.

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LATEST NEWS AND ARTICLES

May 8, 2025
All 50 States Now Aligned on Annuity Sales Standards

The annuity industry officially has secured uniformity in sales regulations across all 50 states.

May 7, 2025
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May 6, 2025
SEC Charges Three Individuals in $284 Million Arizona Sports Complex Bond Fraud by Legacy Cares

The Securities and Exchange Commission has filed a civil enforcement action against Randall “Randy” Miller, Chad Miller, and Jeffrey De Laveaga for allegedly defrauding investors in two municipal bond offerings that raised $284 million.