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FINRA Launches Pilot Program for Remote Branch Inspections

September 12th, 2024 at 10:37 AM
According to InvestmentNews, a total of 741 FINRA member firms have joined a three-year pilot program assessing remote inspections of branches and offices.
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New Treasury Rules Impose AML/CFT Requirements on Investment Advisers

September 11th, 2024 at 10:58 AM
The U.S. Treasury Department has finalized anti-money-laundering (AML) regulations targeting investment advisers registered with the U.S. Securities and Exchange Commission (SEC).
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FINRA Bars Advisor for Forging Signatures and Violating Regulation Best Interest

September 10th, 2024 at 11:24 AM
The Financial Industry Regulatory Authority (FINRA) has barred Christopher Reynolds for forging customer signatures on annuity documents and violating Regulation Best Interest (Reg BI). 
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TD Bank Sets Aside $2.6 Billion for Expected Fines Amid Money-Laundering Allegations

September 9th, 2024 at 3:57 PM
Toronto-Dominion Bank (TD Bank) has allocated $2.6 billion to cover anticipated fines related to failures in its anti-money laundering (AML) controls.
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Veteran Advisor Exits Industry Amid FINRA Probe into UIT Trading Practices

September 6th, 2024 at 10:00 AM
Gregory Alan Corrie, a 30-year industry veteran based in Boise, Idaho, has opted to leave the securities industry rather than cooperate with a FINRA investigation into allegations of improper trading of Unit Investment Trusts (UITs).
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SEC Freezes Assets of Ä¢¹½´«Ã½lls Real Estate Investment and Leaders Amid $56 Million Fraud Allegations

September 5th, 2024 at 1:47 PM
The Securities and Exchange Commission (SEC) has taken emergency action against Ä¢¹½´«Ã½lls Real Estate Investment, LLC, its CEO Janalie C. Bingham, and Jean Joseph, a previously convicted felon, for allegedly defrauding investors out of $56 million.
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UBS Fined $850,000 for Supervisory Failures Leading to Investor Losses

September 4th, 2024 at 11:29 AM
FINRA has fined UBS Ä¢¹½´«Ã½alth Management USA $850,000 for failing to supervise an advisor who recommended unauthorized outside investments for over a decade.
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Wisconsin Financial Advisor Suspended and Fined for Unauthorized Transactions

September 3rd, 2024 at 10:18 AM
FINRA has suspended and fined Wisconsin financial advisor John E. Pelletier after he executed 16 unauthorized transactions, allowing a client's ex-wife to nearly deplete his individual retirement account (IRA).
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Advisor Sues Hightower, Alleging Age Discrimination and Unfair Treatment

August 30th, 2024 at 9:01 AM
Glenn Frank, a Massachusetts-based financial advisor, has filed a lawsuit against Hightower Holdings and Lexington Ä¢¹½´«Ã½alth Management, alleging age discrimination and unfair treatment.
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Supreme Court Limits SEC's Use of In-House Tribunals in Securities Fraud Cases

August 29th, 2024 at 2:01 PM
As reported by InvestmentNews, the Supreme Court ruled in SEC v. Jarkesy that the SEC must bring actions seeking civil penalties for securities fraud in a court of law, where defendants are entitled to a trial by jury.
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