Tagged with "FINRA"

FINRA Fines AAG Capital for RILA Exchange Violations

Posted on June 23rd, 2025 at 1:47 PM
FINRA Fines AAG Capital for RILA Exchange Violations

The Financial Industry Regulatory Authority (“FINRA”) has fined AAG Capital $100,000 and ordered the firm to pay nearly $39,000 in restitution after finding it violated Regulation Best Interest (“Reg BI”) by recommending costly registered index-linked annuities (“RILAs") to retail clients in unsuitable product exchanges.

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FINRA Sanctions Former Advisor for Unsuitable Variable Annuity Exchanges

Posted on June 17th, 2025 at 11:40 AM
FINRA Sanctions Former Advisor for Unsuitable Variable Annuity Exchanges

The Financial Industry Regulatory Authority (FINRA) has fined and suspended former broker Thomas Vigil for making unsuitable variable annuity recommendations that resulted in customers paying higher fees.

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FINRA Sanctions Former Broker for Unsuitable, High-Risk GWG Bond Sales

Posted on June 6th, 2025 at 1:45 PM
FINRA Sanctions Former Broker for Unsuitable, High-Risk GWG Bond Sales

The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former advisor for what FINRA alleged were excessively risky investments that left clients exposed to significant losses.

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UBS Seeks to Overturn $95 Million FINRA Award Over Tesla Shorting Strategy

Posted on June 5th, 2025 at 10:54 AM
UBS Seeks to Overturn $95 Million FINRA Award Over Tesla Shorting Strategy

UBS Wealth Management USA has filed a petition in federal court to vacate a nearly $95 million FINRA arbitration award, arguing the decision overstepped legal bounds and imposed punitive damages that defy Iowa law, as reported by AdvisorHub.

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Former Merrill Edge Advisor Barred by FINRA Amid Misappropriation Allegations

Posted on June 3rd, 2025 at 11:01 AM
Former Merrill Edge Advisor Barred by FINRA Amid Misappropriation Allegations

FINRA has barred Mario L. Martinez, a market leader with Merrill Edge in Fort Lauderdale, Florida, after he declined to cooperate with a regulatory investigation. According to AdvisorHub, the probe began following a tip that Martinez
accepted a loan from a client, among other alleged misconduct.

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Former LPL Advisor Sanctioned by FINRA Over Undisclosed Real Estate Venture

Posted on May 30th, 2025 at 1:43 PM
Former LPL Advisor Sanctioned by FINRA Over Undisclosed Real Estate Venture

FINRA has fined a former LPL Financial advisor and suspended him for three months after allegations surfaced that he operated a real estate development business without his firm’s approval.

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FINRA Sanctions Former Broker for Undisclosed Private Equity and Securities Activities

Posted on May 29th, 2025 at 9:51 AM
FINRA Sanctions Former Broker for Undisclosed Private Equity and Securities Activities

FINRA has sanctioned former registered representative Thomas A. Rapp for engaging in undisclosed outside business and private securities transactions while associated with M Holdings. The enforcement action stems from a Letter of Acceptance, Waiver and Consent (AWC) Rapp submitted under FINRA Rule 9216, resolving the matter without admitting or denying FINRA’s findings.

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FINRA Opens Examination Into B. Riley's Wealth Management Operations Amid Ongoing Regulatory Pressure

Posted on May 27th, 2025 at 1:39 PM
FINRA Opens Examination Into B. Riley's Wealth Management Operations Amid Ongoing Regulatory Pressure

B. Riley Financial Inc. continues to draw regulatory attention, with the firm recently disclosing that FINRA has launched a cause examination into its wealth management division. According to AdvisorHub, the firm revealed the inquiry in a filing with the U.S. Securities and Exchange Commission.

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FINRA Suspends Former Raymond James Broker Over Unauthorized Trades in Elderly Client's Account

Posted on May 15th, 2025 at 2:05 PM
FINRA Suspends Former Raymond James Broker Over Unauthorized Trades in Elderly Client's Account

FINRA has suspended a former Raymond James advisor for three months and ordered him to pay over $23,000 in fines and disgorgement for executing unauthorized trades in an elderly client’s account.

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FINRA Clarifies Proposed Changes to Outside Activities Rule

Posted on May 12th, 2025 at 2:15 PM
FINRA Clarifies Proposed Changes to Outside Activities Rule

FINRA released a statement this week addressing misconceptions surrounding its proposed updates to the rules governing outside business activities by associated persons of broker-dealers.

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LATEST NEWS AND ARTICLES

October 21, 2025
Judge Denies Merrill Lynch's TRO in Advisor Transition

A federal judge has rejected Merrill Lynch’s request for a temporary restraining order (TRO) against a group of former financial advisors who left the firm to launch their own independent practice, OpenArc Corporate Advisory, under Dynasty Financial Partners’ platform with custody at Charles Schwab.

October 20, 2025
FINRA Accuses Former MML Broker of Cheating on SIE Exam

Regulators have accused a former MML Investors Services-affiliated broker of cheating on the Securities Industry Essentials (SIE) exam, according to a recent Financial Industry Regulatory Authority (FINRA) enforcement complaint.

October 17, 2025
FINRA Fines Oak Hills Securities for Private Placement Misconduct

The Financial Industry Regulatory Authority (FINRA) has censured and fined Oak Hills Securities Inc., an Oklahoma City brokerage, for multiple rule violations over five years.