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SEC Fines Target Off-Channel Communications

April 18th, 2024 at 2:15 PM
The Securities and Exchange Commission (SEC) is ramping up its enforcement efforts targeting off-channel communications, particularly text messages, among investment advisory firms.
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B. Riley Financial Again Delays Filing Audited Results

April 17th, 2024 at 9:44 AM
B. Riley Financial Inc. has encountered a setback in filing its audited results within an extended timeframe, adding to existing pressure amid concerns raised by short sellers regarding its association with a former business partner.
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Former Ä¢¹½´«Ã½lls Fargo Advisor Accepts Industry Bar Amidst Misuse of Client Funds Allegations

April 16th, 2024 at 2:03 PM
A former advisor with Ä¢¹½´«Ã½lls Fargo Advisors Financial Network (FiNet) in Chicago, Jayson R. Pocius, has agreed to accept an industry bar rather than cooperate with aFinancial Industry Regulatory Authority (FINRA) investigation into allegations of misusing client funds.
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Commonwealth Financial Network Faces Potential Damages Amid SEC Lawsuit

April 15th, 2024 at 1:37 PM
Commonwealth Financial Network is under fire, as it faces potential damages amounting to $111.5 million from a Securities and Exchange Commission (SEC) complaint filed nearly five years ago.
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FINRA Penalizes Ex-Raymond James Advisor for Document Alterations

April 12th, 2024 at 11:32 AM
A former Raymond James financial advisor faced a $5,000 fine and a four-month suspension from the Financial Industry Regulatory Authority (FINRA) for allegedly falsifying 25 documents, as per a settlement letter released recently.
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Cantor Fitzgerald LP Sues Former Bankers Over Alleged Client Poaching

April 11th, 2024 at 3:36 PM
Cantor Fitzgerald LP has initiated legal action against PEI Global Partners Holdings LLC, a firm founded by a group of its former investment bankers, alleging the illicit solicitation and theft of valuable clients, potentially worth millions of dollars in profit.
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Stifel Financial Settles with FINRA Over Advisor Supervision Failures

April 10th, 2024 at 11:22 AM
Stifel Financial has settled with FINRA, agreeing to a censure and a nearly $460,000 payment to resolve allegations of inadequate supervision of two advisors, as detailed in an Acceptance, Waiver, and Consent (“AWC”) finalized recently.
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FINRA Takes Action Against Advisor for Violating Regulation Best Interest

April 9th, 2024 at 3:46 PM
The Financial Industry Regulatory Authority (FINRA) has sanctioned a former advisor at Network 1 Financial Securities for breaching Regulation Best Interest (Reg BI) through excessive trading in a client's account.
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FINRA Fines Morgan Stanley $1.6 Million for Municipal Securities Rule Violations

April 9th, 2024 at 8:57 AM
The Financial Industry Regulatory Authority (FINRA) has imposed a $1.6 million fine on Morgan Stanley for repeated violations of rules established by the Municipal Securities Rulemaking Board (MSRB) concerning the processing and settlement of municipal securities transactions.
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Former Edward Jones Advisor opts for Industry Bar Amid FINRA Investigation

April 5th, 2024 at 1:27 PM
Reuben L. Brown, a former advisor at Edward D. Jones & Co. in Southlake, Dallas, has chosen an industry bar over cooperating with a Financial Industry Regulatory Authority (FINRA) investigation related to his termination from the firm, according to an Acceptance, Waiver and Consent (“AWC”).
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