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Former David Lerner Branch Manager Receives FINRA Sanctions for Supervisory Lapses

June 8th, 2023 at 10:54 AM
The Financial Industry Regulatory Authority (FINRA) imposed a one-month suspension and a $5,000 fine on former David Lerner Associates branch manager Rande Aaronson.
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SEC Files Fraud Charges Against Financial Advisor for Exploiting Elderly Clients

June 7th, 2023 at 1:17 PM
The Securities and Exchange Commission (SEC) has charged Douglas McKelvey, a former Morgan Stanley financial advisor, with fraud for misappropriating more than $1.7 million from two elderly customers who were his close relatives.
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House Approves Several Bills Expanding Investment Opportunities

June 6th, 2023 at 10:52 AM
The full House has passed the Equal Opportunity for All Investors Act of 2023, which among other things would require the Securities and Exchange Commission (SEC) to devise a test for investors to be certified as accredited investors.
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Former Morgan Stanley Advisor Sentenced To 7.25 Years For Fraud

June 2nd, 2023 at 1:26 PM
Shawn E. Good pleaded guilty in September to wire fraud and money laundering charges based on allegations that he had operated a decade-long Ponzi scheme from 2012 to 2022. 
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Morgan Stanley Ordered to Pay Huntington Bank's Brokerage Unit

June 1st, 2023 at 1:15 PM
Morgan Stanley, along with two advisors, has been found jointly responsible for $333,000 in damages and legal fees by an arbitration panel of the Financial Industry Regulatory Authority (FINRA).
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MLB Pitcher Turned Financial Advisor Barred By FINRA

May 31st, 2023 at 3:30 PM
Christopher J. Carpenter, a former Major League Baseball player, has been barred by the Financial Industry Regulatory Authority (FINRA) for his refusal to supply information to FINRA as part of an investigation.
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Compliance Professionals Emphasize the Significance of SEC Reg BI Bulletins in Examinations

May 30th, 2023 at 3:03 PM
Securities and Exchange Commission (SEC) top compliance officials recently announced that the Regulation Best Interest (Reg BI) bulletins will be used in future exams.
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Ä¢¹½´«Ã½lls Fargo Advisor Sanctioned Due to Role as Customer Account Beneficiary

May 26th, 2023 at 2:14 PM
The Financial Industry Regulatory Authority (FINRA) has imposed a suspension and a $5,000 fine on Mark A. Brewer, a Ä¢¹½´«Ã½lls Fargo Advisor, for acting as a beneficiary on a customer account.
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Fidelity Ordered To Pay Options Trader $4 Million

May 25th, 2023 at 1:15 PM
Financial Industry Regulatory Authority (FINRA) arbitrators have recently ruled in favor of an options trader, ordering Fidelity Brokerage Services to pay nearly $4 million in damages. This decision stems from allegations of mishandling transactions in a margin account, resulting in significant losses for the trader.
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FINRA Focuses On Dual Registrant Hybrid Brokers and Investment Advisors

May 24th, 2023 at 1:37 PM
The Financial Industry Regulatory Authority (FINRA) has recently intensified its enforcement efforts to address a concerning issue related to hybrid brokers and investment advisors exploiting their dual status to maximize customer fees and commissions.
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TESTIMONIALS

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If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, Ä¢¹½´«Ã½ Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it Ä¢¹½´«Ã½.

Rick R.

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