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SEC Charges Infinity Q Founder Over Valuation Fraud

February 28th, 2022 at 1:42 PM
The Securities and Exchange Commission (SEC) has charged former Chief Investment Officer and founder of Infinity Q Capital, James Velissaris, for allegedly overvaluing assets by more than $1 billion while collecting million of dollars in ill-gained fees.
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FINRA Hires Law Firm To Independently Investigate Arbitrator Selection Process

February 25th, 2022 at 11:12 AM
The Financial Industry Regulatory Authority (FINRA) has hired outside legal counsel to independently investigate whether FINRA’s Dispute Resolution Services (DRS) adhered to its policies and procedures for arbitrator selection relating to a recent arbitration proceeding, in which the award was vacated by an Atlanta Superior Court judge.    
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FINRA Sanctions Ecoban Securities Over Inadequate Supervision Procedures

February 24th, 2022 at 12:41 PM
The Financial Industry Regulatory Authority (FINRA) has sanctioned Ecoban Securities Corp. and imposed a $40,000 fine after the firm allegedly violated rules designed to ensure adequate supervision of its advisors.    
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SEC To Investigate Morgan Stanley and Goldman Sachs Over Block-Trading Practices

February 23rd, 2022 at 3:03 PM
The Securities and Exchange Commission (SEC) has subpoenaed Morgan Stanley, Goldman Sachs, and several hedge funds in order to investigate the business of block trading.    
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J.P. Morgan Ordered To Pay $1.4 Million To Advisor In Defamation Case

February 22nd, 2022 at 12:51 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered J.P. Morgan to pay $1.4 million to a former advisor who alleged defamation following his termination nearly five years ago.    
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FINRA Criticized Over Alleged Rigging Of Arbitration Matters Involving ÍøÆØ³Ô¹Ïlls Fargo

February 21st, 2022 at 12:09 PM
Senate and House lawmakers have criticized the Financial Industry Regulatory Authority (FINRA) Dispute Resolution over the fairness of its arbitration system after a judge recently determined that a FINRA arbitration panel was biased against an investor claimant in 2019.      
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FINRA Suspends Former Raymond James Advisor Over UIT Sales

February 18th, 2022 at 1:03 PM
The Financial Industry Regulatory Authority (FINRA) has suspended a former Raymond James advisor for three months and imposed a $5,000 fine over unsuitable sales of Unit Investment Trusts (UITs).    
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SEC Releases Statement On Private Fund Advisors Proposal

February 17th, 2022 at 12:10 PM
The Securities and Exchange Commission (SEC) is proposing to amend the Investment Advisors Act to improve the efficiency, competition, and transparency of the activities of private funds’ advisors, according to SEC chairman Gary Gensler.    
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SEC Obtains Final Judgement Against Indianapolis-Based Advisor Over Allegations Of Fraud

February 16th, 2022 at 12:04 PM
The U.S. District Court for the Southern District of Indiana has entered a final consent judgment against an Indianapolis-based advisor, George Blankenbaker, and three of his entities who previously were charged with defrauding at least 100 investors out of at least $8 million.        
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Smoothie-Throwing Advisor Suspended By CFP Board

February 15th, 2022 at 1:21 PM
A former Merrill Lynch advisor has been suspended by the CFP Board after he was arrested for threatening employees and using racial slurs at a smoothie shop in Connecticut.        
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