Regulatory & Compliance (359)
Finra Slaps 5 Firms Over Reg BI, Form CRS
- Sunday, 04 June 2023
- Regulatory & Compliance
- Written by PFA News
The Financial Industry Regulatory Authority has sanctioned five firms for lapses involving Regulation Best Interest and the Customer Relationship Summary (Form CRS). So reports Think Advisor.
Read more...SEC Hits Merrill Lynch for $9.7M Over Undisclosed Fees
- Sunday, 16 April 2023
- Regulatory & Compliance
- Written by PFA News
A settlement with the Securities and Exchange Commission over allegations of undisclosed fees will cost Merrill Lynch $9.7 million. So reports Compliance Week.
Read more...Finra Bars Broker Accused of Secretly Borrowing from Clients
- Sunday, 16 April 2023
- Regulatory & Compliance
- Written by PFA News
The Financial Industry Regulatory Authority has barred a former broker who allegedly borrowed more than $850,000 from clients. So reports Financial Advisor.
Read more...Wells Fargo Can’t Shake McDonald’s Shareholder, Owes $500K
- Sunday, 16 April 2023
- Regulatory & Compliance
- Written by PFA News
Wells Fargo and one of its brokers must pay roughly $500,000 to a former McDonald’s franchise owner who was their client, Financial Industry Regulatory Authority arbitrators have ordered. So reports Investment News.
Read more...Finra Suspends Broker for Note-Taking Violations
- Thursday, 30 March 2023
- Regulatory & Compliance
- Written by PFA News
The Financial Industry Regulatory Authority has suspended a veteran broker for two months over his note-taking on client calls. So reports Advisor Hub.
Read more...Ex-Morgan Stanley Advisor Arrested for Alleged NBA Fraud
- Thursday, 30 March 2023
- Regulatory & Compliance
- Written by PFA News
Former Morgan Stanley financial advisor Darryl Cohen has been arrested and indicted for allegedly defrauding current and former NBA players. So reports CNBC.
Read more...Twin Brothers Misappropriated $5M From Clients, SEC Alleges
- Saturday, 11 March 2023
- Regulatory & Compliance
- Written by PFA News
The SEC has filed suit against identical twin brothers that it claims misappropriated more than $5 million from at least 60 of their investment advisory clients. So reports Think Advisor.
Read more...Morgan Stanley Owes Schwab, Ex-Advisors Millions, Panel Rules
- Saturday, 11 March 2023
- Regulatory & Compliance
- Written by PFA News
A Financial Industry Regulatory Authority arbitration panel has ordered Morgan Stanley to pay more than $7.8 million over its doomed 2019 hiring of two veteran advisors from Charles Schwab. So reports Advisor Hub.
Read more...SEC Proposes Major Expansion of Advisor Custody Rule
- Friday, 24 February 2023
- Regulatory & Compliance
- Written by PFA News
The SEC has proposed expanding the custody rule for investment advisors to cover all assets under an advisor’s custody. So reports CNBC.
Read more...Ex-FA Sentenced to 3.5 Years in Prison Over Scams
- Friday, 24 February 2023
- Regulatory & Compliance
- Written by PFA News
A former financial advisor has received a sentence of three and a half years in federal prison for defrauding three clients. So reports The Business Journal.
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