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Former Army Financial Counselor Sentenced for Defrauding Gold Star Families

September 26th, 2024 at 10:28 AM
A former U.S. Army financial counselor, Caz Craffy, also known as “Carz Craffey”, was sentenced to 151 months in prison for defrauding Gold Star families and committing related crimes.
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FINRA Sanctions Supervisor for Failing to Address Excessive Trading Red Flags

September 25th, 2024 at 11:33 AM
FINRA has acted against an Independent Financial Group (IFG) supervisor for failing to respond to red flags involving excessive trading in five customer accounts.
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CFP Board Revises Sanction Guidelines and Fitness Standards

September 24th, 2024 at 11:16 PM
The CFP Board has finalized revisions to its Sanction Guidelines and Fitness Standards.
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Former LPL Financial Advisor Fined and Suspended for Unauthorized Signatures

September 23rd, 2024 at 10:35 AM
According to AdvisorHub, Justin Y. Gerow has been fined $5,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations of signing customer account transfer forms without permission.
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Recruiting Loans Drive Growth in Financial Planning Firms

September 20th, 2024 at 1:32 PM
Recruiting in the financial planning industry remains a crucial strategy for growth, with major firms like LPL Financial and Morgan Stanley leading the charge by offering substantial recruiting loans to attract advisors.
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FINRA Rule Protects Advisors' Private Addresses on BrokerCheck

September 19th, 2024 at 11:53 AM
FINRA recently implemented a rule allowing advisors to keep their personal home addresses off the public BrokerCheck database by simply checking a box.
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Merrill Lynch and Bank of America Fined $3 Million for Failing to Monitor Manipulative Trading

September 18th, 2024 at 10:53 AM
Merrill Lynch and its parent company, Bank of America, have agreed to pay a $3 million fine and accepted censure from FINRA for their failure to properly monitor potentially manipulative trading activities.
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Understanding the Role of Recruiting Loans in Ä¢¹½´«Ã½alth Management Growth

September 17th, 2024 at 1:40 PM
Recruiting loan balances can offer insight into a wealth management firm's growth strategy, but they do not tell the whole story. Industry compensation consultant Andrew Tasnady told Financial Planning that firms that have seen the most revenue growth in recent years often have large recruiting loan balances.
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Former Raymond James Advisor Fined and Suspended for Undisclosed Outside Business Activity

September 16th, 2024 at 11:15 AM
Andrew R. Hutcheson, a former advisor with Raymond James' Alex Brown division in Los Angeles, has agreed to a $5,000 fine and a 30-day suspension following allegations of failing to disclose his involvement in an outside business.
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LPL Financial Faces Potential $50 Million SEC Fine for Recordkeeping Failures

September 13th, 2024 at 5:02 PM
LPL Financial faces a fine of up to $50 million from the Securities and Exchange Commission (SEC) for non-compliance with records preservation rules, as reported by InvestmentNews.
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