Insights
October 28, 2015
FINRA has ordered five broker-dealers to reimburse clients a sum of $18.4 million for charging them improper fees on mutual funds. Edward Jones will pay $13.5 million, Stifel Nicolaus & Co., $2.9 ...
October 26, 2015
Legislators have expressed frustration with how slowly the SEC has moved toward proposing a rule that would raise investment advice standards while the Department of Labor speeds along. In an appearan...
October 22, 2015
The SEC focused on a number of new kinds of errant financial behavior in 2015 as the agency filed a record number of enforcement cases and fines against both companies and individuals. This year, the ...
October 21, 2015
A federal jury on Monday convicted a Rockwall, Texas man of securities fraud arising from an investment scheme he ran, according to U.S. Attorney John Parker of the Northern District of Texas. Mark Le...
October 20, 2015
FINRA ordered twelve firms to pay restitution over $4 million and fines over $2.6 million for failing to apply sales charge discounts to customers’ purchases of Unit Investment Trusts (“UI...
October 19, 2015
Labor Secretary Thomas Perez backed a proposal to increase investment advice standards for retirement accounts by arguing that studies showing the need for such a rule are more reliable than those fun...
October 15, 2015
Voya Financial Advisors Inc., Transamerica Financial Advisors Inc. and four other independent broker-dealers failed to give clients appropriate discounts on large sales of nontraded real estate invest...
October 14, 2015
Fiat Chrysler Automobiles N.V. is being investigated for allegedly violating specific sections of the Securities Exchange Act of 1934 by issuing materially misleading information to the investing publ...
October 13, 2015
FINRA mandated that Santander Securities LLC pay about $4.3 million in restitution to a number of clients who were solicited to buy Puerto Rican Municipal Bonds. Further, the firm will pay restitution...
October 8, 2015
FINRA expelled New York-based Halcyon Cabot Partners, Ltd., and barred Chief Executive Officer Michael Morris and Chief Compliance Officer Ronald Heineman from the securities industry, for fraud, sale...
October 7, 2015
Richard James Tucker of Mobile, Alabama was arrested last week by Baldwin County, Alabama Sheriff’s Department deputies for alleged violations of the Alabama Securities Act. The arrest was subse...
October 5, 2015
The fight over a Department of Labor proposal to increase investment advice standards for retirement accounts have begun to intensify. Over the last week, the writer of a bill that would prohibit the ...
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