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SEC Fines Thrivent Investment Management for Red BI Violations

October 25th, 2024 at 1:27 PM
The Securities and Exchange Commission (SEC) has imposed a $25,000 fine on Thrivent Investment Management for violating Regulation Best Interest (Reg BI) in its investment recommendations to retail brokerage clients.
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FINRA Suspends Former LPL Advisor for Unapproved Business Activities

October 24th, 2024 at 11:40 AM
FINRA has suspended a former LPL Financial advisor for one month and fined her $5,000 for engaging in unapproved outside business activities related to property management services, according to a settlement agreement known as an AWC (Acceptance, Waiver, and Consent).
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Former Merrill Lynch Advisor Sanctioned for Unauthorized Crypto Work and Misleading Letters

October 23rd, 2024 at 10:57 AM
A former Merrill Lynch advisor, John Rollin Revelle, has been suspended for 10 months and fined $7,500 by the Financial Industry Regulatory Authority (FINRA) for engaging in unauthorized activities, including working for a cryptocurrency exchange and issuing misleading asset verification letters.
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NASAA Highlights Common Violations by State-Registered Investment Advisors

October 22nd, 2024 at 1:43 PM
State securities regulators took significant enforcement actions in 2023, with many cases stemming from breaches of fiduciary duty and failures to register, according to the North American Securities Administrators Association (NASAA).
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SEC Fines 11 Firms for Recordkeeping Failures in Off-Channel Communications

October 21st, 2024 at 11:44 AM
The Securities and Exchange Commission (SEC) continues its strict enforcement of recordkeeping requirements, fining 11 firms a combined $88.2 million for failing to preserve electronic communications.
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SEC Charges Inspire Investing with Misleading Investors and Related Compliance Failures

October 18th, 2024 at 3:20 PM
The Securities and Exchange Commission (SEC) recently charged Inspire Investing LLC, an Idaho-based investment adviser, with making misleading statements and failing to maintain compliance with its own "biblically responsible investing" strategy.
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Team Breakups Surge Among Financial Advisors Despite Firm Incentives

October 17th, 2024 at 1:28 PM
In recent months, several high-profile departures have highlighted a growing trend: financial advisors are splitting from longtime teams and even family members to pursue opportunities with other firms. 
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FINRA Penalizes Advisor for Falsifying Client Signatures

October 16th, 2024 at 2:44 PM
FINRA has imposed a $7,500 fine and a one-year suspension on Richard Dean Connally.
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SEC Charges First Horizon Advisors for Regulation Best Interest Violations

October 15th, 2024 at 4:09 PM
The Securities and Exchange Commission (SEC) has charged First Horizon Advisors, LLC, a registered broker-dealer, with violating Regulation Best Interest (Reg BI).
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Macquarie Investment Management to Pay $79.8 Million for Overvalued CMOs and Unlawful Cross Trades

October 11th, 2024 at 12:03 PM
The U.S. Securities and Exchange Commission (SEC) has charged Macquarie Investment Management Business Trust (MIMBT) with overvaluing collateralized mortgage obligations (CMOs) and executing unlawful cross-trades that favored certain clients. 
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