Search for: "Financial Industry Regulatory Authority"
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10 Feb 2016, 6:10 pm
Three firms were ordered by the Financial Industry Regulatory Authority (FINRA) to pay more than $1 million in fines and restitution for failure to give certain clients discounts on large purchases of unit investment trusts, or UITs. [read post]
8 Sep 2022, 11:36 am
Third Yield Enhancement Strategy Investors Award for Seasoned Securities Fraud Law Firm Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is thrilled to announce that on September 1, 2022, a Financial Industry Regulatory Authority (FINRA) arbitration panel ordered UBS Financial Services (UBS) to pay $468,126 to two customers and their trust over losses they sustained in the firm’s UBS Yield Enhancement Strategy program. [read post]
21 Sep 2009, 6:33 am
In addition to suing Medical Capital, investors are initiating legal action against the brokerage firms that sold them Medical Capital investments and filing arbitration claims with the Financial Industry Regulatory Authority (FINRA) on charges of alleged breach of fiduciary duties and misrepresentation, as well as other allegations. [read post]
14 Jan 2008, 6:18 pm
Last week, the Financial Industry Regulatory Authority (FINRA) announced that 19 broker-dealers agreed to pay fines to settle SRO charges that they "substantially overstated their advertising trade volume to private sector providers. [read post]
14 Feb 2011, 2:53 pm
The need for the Financial Industry Regulatory Authority ("FINRA"), which oversees securities arbitrations, to revise its arbitrator disclosure procedures is under a spotlight because of a FINRA arbitration case brought by actor Larry Hagman, star of the 1980s program "Dallas," against Citigroup.On October 6, 2010, Hagman won an $11 million arbitration case against Citigroup Global Markets for the actions of a Smith Barney broker. [read post]
1 Apr 2015, 1:22 pm
The Financial Industry Regulatory Authority (FINRA) recently imposed a hefty fine on the broker dealer, Oppenheimer & Co. [read post]
27 Apr 2015, 11:37 am
In what appears to be another example of broker-dealers continuing to ensure that the wrong speculative securities are sold to the wrong investors, the Financial Industry Regulatory Authority (FINRA) announced in a News Release on April 23, 2015 that RBC Capital Markets, LLC was fined approximately $1 million and ordered to pay restitution of approximately $400,000 for the firm’s failure to supervise the unsuitable sale of reverse convertible securities… [read post]
26 Jan 2012, 8:40 am
The Financial Industry Regulatory Authority (FINRA) announced that it has fined Merrill Lynch, Pierce, Fenner & Smith Inc., $1 million for supervisory failures that allowed a registered representative at Merrill Lynch’s branch office in San Antonio, Texas, to use a Merrill Lynch account to operate a Ponzi scheme. [read post]
15 Apr 2011, 3:08 pm
Customers who purchased IMH Secured Loan Fund units through a securities broker may be able to recover damages by pursuing an arbitration claim before the Financial Industry Regulatory Authority (FINRA). [read post]
11 Jan 2023, 11:01 am
On December 29, 2022, the Financial Industry Regulatory Authority (FINRA) found, in a regulatory proceeding, that between May 4, 2018, and June 29, 2018, Center Street negligently failed to tell 20 investors, and Moloney Securities negligently failed to tell 37 investors, that GPB issuers failed to timely make required filings with the Securities and Exchange Commission, including filing audited financial statements. [read post]
22 Feb 2016, 6:00 am
Highlights include the following: The CFPB reported that it had received comments calling on it to adopt a policy for providing definitive regulatory guidance to industry such as interpretative letters and advisory opinions. [read post]
20 Oct 2016, 9:49 am
According to metrics provided by the Financial Industry Regulatory Authority (“FINRA”), $62.1 million of investor awards issued in 2013 went unpaid, due to brokerage houses’ insolvency. [read post]
20 Dec 2013, 6:57 am
The Financial Industry Regulatory Authority (FINRA) recently announced that it has fined Deutsche Bank Securities, Inc. $6.5 million and censured the firm for serious financial and operational deficiencies primarily related to its enhanced lending program. [read post]
25 Sep 2013, 4:57 am
The Financial Industry Regulatory Authority (FINRA) recently released a report detailing the American public’s susceptibility to financial fraud. [read post]
5 Feb 2017, 7:01 am
Recently the Financial Industry Regulatory Authority (FINRA) filed a complaint alleging that Bennett sold $6 million in promissory notes concerning her retail clothing business – DJBennett.com owned by DJB Holdings, LLC. [read post]
8 Jun 2015, 8:43 am
Speer, co-founder of the Home Shopping Network, has filed a complaint with The Financial Industry Regulatory Authority (FINRA) against Morgan Stanley Wealth Management along with an adviser Ami Forte (Forte) and branch manager Terry McCoy (McCoy) for $400 million. [read post]
30 Apr 2021, 7:27 am
Morgan Stanley Broker Jacob “Cobby” Shapira allegedly Shorted Amazon Stock According to Financial Advisor IQ this week, a Financial Industry Regulatory Authority arbitration panel has ordered Morgan Stanley and financial advisor Jacob Shapira to pay close to $800,000 over alleged over-concentration and churning in short positions. [read post]
23 Jun 2017, 3:23 pm
Financial Industry Regulatory Authority (FINRA) President and CEO Robert Cook spoke earlier this month at Georgetown University’s McDonough School of Business, where he outlined several proposals to further what he called one of FINRA’s “most important purposes”—“to protect investors from bad actors. [read post]
21 Jun 2020, 8:35 am
According to records kept by The Financial Industry Regulatory Authority (FINRA) Esh was employed by his prior employer LPL Financial LLC (LPL Financial) prior to being investigated concerning his activities. [read post]
15 Mar 2015, 7:16 am
The Financial Industry Regulatory Authority (FINRA) recently filed a complaint against broker Chris Fulco (Fulco) concerning allegations that Fulco facilitated the sale of stock in US Coal Corporation, Inc. [read post]
