BlueCrest Capital Management has agreed to pay $170 million to settle allegations from the U.S. Securities and Exchange Commission (“SEC”) that the firm misled investors.
BlueCrest Capital Management has agreed to pay $170 million to settle allegations from the U.S. Securities and Exchange Commission (“SEC”) that the firm misled investors.
Merrill Lynch has agreed to pay a $2 million fine and $24.3 million in reimbursement to clients to settle an action brought by the New Hampshire Bureau of Securities Regulation.
Wells Fargo has announced its 2019 compensation plan for the firm’s 9,400 financial advisors. According to the compensation plan, Wells Fargo will continue to guarantee its financial advisors 50% payouts of all fees and commissions produced after hitting monthly hurdles.
A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investment advisor (RIA)
insurers.
According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.
The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity deficiencies that led to hackers accessing the private information of more than 32,000 customers.