Insights
July 18, 2016
The FINRA Board of Governors elected John Brennan as its new chairman last week. Brennan, an ex-chief executive and currently chairman emeritus and senior adviser at Vanguard Group, will start his new...
July 15, 2016
David Blaine Welliver, whose career as a financial advisor began in the early 1990s with a $400 classified ad promoting his one-man office, ended that career by recently pleading guilty to a charge of...
July 14, 2016
The SEC fined RiverFront Investment Group of Richmond, Virginia $300,000 for charging clients additional fees beyond their wrap program for investment management. The firm agreed to the penalty withou...
July 12, 2016
The SEC barred Dawn Bennett from the securities industry for inflating her firm’s assets under management and investment performance to bring in more business from well-to-do clients. The commis...
July 11, 2016
Terry Earl Hester of Pike County, Alabama was charged with violating the Alabama Securities Act after allegedly making false promises to a Tuscaloosa County church involving $1.5 million in funds. [su...
July 5, 2016
The SEC charged Breitling Energy Corp., its CEO, and seven others with defrauding investors out of nearly $80 million by misleading them about the value of oil and gas assets [su_spacer size=”10...
July 1, 2016
Raymond James Financial Inc. has agreed to settle a compliance failure case with Vermont’s Department of Financial Regulation for $5.95 million. The alleged compliance failure pertained to real-...
June 30, 2016
The SEC has banned Massachusetts resident Lee Weiss from the brokerage and investment advisory industry for a fraudulent scheme pertaining to a French company that claimed it could reduce the harmful ...
June 28, 2016
Last week, former Merrill Lynch broker Kenneth Daley submitted a Letter of Acceptance, Waiver and Consent in which he accepted a permanent bar from acting as a broker or otherwise associating with fir...
June 24, 2016
Following on the heels of Merrill Lynch’s agreement yesterday to pay $415 million to settle claims made by the SEC, the commission and FINRA fined the firm an additional $15 million in another a...
June 23, 2016
Merrill Lynch has agreed to pay $415 million and admit wrongdoing to settle charges filed by the SEC accusing the firm of misusing customer cash to create profits, according to the commission. [su_spa...
June 22, 2016
FINRA has suspended former LPL Financial broker and supervisor Peter Neuberg for six months and has fined him $15,000 after failing to reasonably supervise a registered representative, according to th...
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