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Morgan Stanley Settles Block Trade Investigations for $249 Million

July 18th, 2024 at 11:39 AM
Morgan Stanley has agreed to pay $249.4 million to resolve criminal and civil investigations into its handling of large stock trades for customers, according to a recent story in The Wall Street Journal.
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FINRA Sanctions CFP for Sharing Exam Content

July 17th, 2024 at 1:40 PM
The Financial Industry Regulatory Authority (FINRA) has fined Certified Financial Planner Joseph Occhipinti $5,000 and suspended him for one month for sharing CFP exam content with others.
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FINRA Bars Two Former Raymond James Advisors for Non-Cooperation in Investigations

July 16th, 2024 at 10:28 AM
The Financial Industry Regulatory Authority (FINRA) has barred two former Raymond James financial advisors after they refused to cooperate with investigations into their departures from the St. Petersburg Florida-based firm, according to AdvisorHub.
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Salomon & Ludwin Sues Former Employees Despite Being a Protocol Move

July 15th, 2024 at 10:16 AM
According to Ä¢¹½´«Ã½althManagement, a team of advisors has left Salomon & Ludwin (S&L), a registered investment advisor, to establish their own RIA, Founders Grove Ä¢¹½´«Ã½alth Partners, with backing from Dynasty Financial Partners.
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Former Apprentice Advisor Sentenced to Prison for Client Theft

July 12th, 2024 at 11:11 AM
Dusty Sternadel, a former advisor with Ameriprise, has been sentenced to five years for defrauding clients of over $1.2 million. The Justice Department revealed that Sternadel pleaded guilty to wire fraud earlier this year.
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CFP Board Reaches Milestone with 100,000 Certified Financial Planners

July 11th, 2024 at 3:27 PM
The CFP Board recently announced a significant milestone, surpassing 100,000 Certified Financial Planners (CFPs).
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Ä¢¹½´«Ã½lls Fargo Faces ERISA Lawsuit Over 401(k) Plan Asset Use

July 10th, 2024 at 11:51 AM
A new proposed class action has been filed in the US District Court in the Northern District of California, alleging that Ä¢¹½´«Ã½lls Fargo and its associated committees violated the Employee Retirement Income Security Act (ERISA).
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SEC Charges Investment Firm with Defrauding Investors of $3 Million

July 8th, 2024 at 1:18 PM
The U.S. Securities and Exchange Commission (SEC) has charged Joshua Goltry and his firm, JAG Capital Advisors LLC, with defrauding investors of at least $3 million over three years.
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Top Morgan Stanley Advisor Fined and Suspended

July 5th, 2024 at 8:55 AM
A prominent Morgan Stanley advisor has accepted a 45-day suspension and a $10,000 fine for unauthorized money transfers and using personal communication channels for business-related texts, according to a FINRA settlement letter known as an Acceptance, Waiver, and Consent (“AWC”).
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Nontraded REIT Sales Slump Amid Market Uncertainty

July 3rd, 2024 at 12:00 PM
InvestmentNews recently covered the sluggish start to nontraded real estate investment trust (REIT) sales in the current year, observing that the slump reflects the challenges facing commercial real estate investors, hinting at potential devaluation in certain REITs, especially net asset value (NAV) products.
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