Regulatory & Compliance

Regulatory & Compliance (295)

Finra Awards Intellivest $900K In Raiding, Poaching Case

Finra has ordered broker-dealer Growth Capital Securities to pay Intellivest Securities more than $900,000. So reports Financial Advisor.

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Ex-Credit Suisse Brokers Rack Up Another Win Against Firm

Former brokers at Credit Suisse Securities recently scored another win against their old firm. So reports Investment News.

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Top Ten Worst FAs of 2021: Think Advisor

Many of the advisors on this dubious list are accused of running ponzi schemes and other financial transgressions, but not all of them: one is charged with murder. So reports Think Advisor.

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SEC Commissioner Calls for Clearer Cyber Rules for Advisors and Brokers  

SEC Commissioner Elad Roisman wants a rule that clarifies when advisors and brokers have to tell the SEC and investors about a cybersecurity breach. So reports Think Advisors.

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Ex-Ameriprise Broker Gets Supreme Court Hearing

In early November, the U.S. Supreme Court will hear arguments on behalf of Denise Badgerow, a Louisiana financial advisor. Badgerow wants to have a state court vacate a FINRA arbitration ruling instead of following a federal court’s decision to confirm the regulator’s award. So reports Advisor Hub.

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FINRA Orders Ex-UBS Rep to Pay $541,722 for Dispute Over Promissory Notes

FINRA ordered an ex-advisor to pay $541,722 in compensatory damages to UBS, his former firm, after he failed to repay 11 promissory notes as required when he resigned. So reports Think Advisor.

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Finra Smacks Down Rep for Improperly Charging Commuting Costs  

FINRA suspended Anthony DeJohn and slapped him with a $5,000 fine for improperly charging his commuting expenses of $2,270 to a credit card issued to him by BMO Capital Markets. So reports Advisor Hub.

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Elizabeth Warren to The Fed: Break Up Wells Fargo  

Senator Elizabeth Warren says Wells Fargo should be broken up after years of scandal. She is calling on the Federal Reserve to take action and revoke the company’s status as a financial holding company. So reports CNN.

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Finra Bans Ex-Broker Over Improper COVID-19 Loan

FINRA has banned Scott Madison, an ex-Merrill Lynch broker, after he refused to cooperate with investigations into whether he improperly requested and was given a COVID-19 Economic Injury Disaster Loan. So reports Think Advisor.

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Ex-LPL Broker Who Stole $600k from Client Gets Banned By SEC

Matthew O. Clason, formerly a broker at LPL Financial, has been banned by the SEC for stealing more than $600,000 from a retired, 73-year-old client. So reports Think Advisor.

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