FINRA’s National Fraud and Financial Crimes Detection Programs has sent 50 cases to the SEC involving potential fraud by public companies related to COVID-19. So reports Think Advisor.
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The Department of Housing and Urban Development has changed principal…
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Since the turmoil that seized the banking sector with the mid-March failure of Silicon Valley Bank, at least 21 advisors have left First Republic Bank, with 13 heading to Morgan Stanley. So reports AdvisorHub.
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Private equity group Reverence Capital Partners is courting suitors for a minority stake in wealth…
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The NFL Players Association has approved UBS to work with current and former players through…
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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.
The investigations in question were an internal probe by Merrill Lynch as well as a FINRA investigation. Madison did not admit or deny the allegations but signed a Finra letter of acceptance, waiver and consent..
Madison has been a broker since 2001 and joined Merrill in late 2017.
Finra has brought a number of cases against brokers related to COVID-19 emergency loans.
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