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Former Edward Jones Advisor Suspended For Illegally Borrowing $150K From Client

January 31st, 2022 at 12:20 PM
The Financial Industry Regulatory Authority (FINRA) has suspended a former Edward Jones advisor who allegedly borrowed $150,000 from a client to cover debts incurred by an unprofitable golf-cart business operated by he and his wife.
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SEC Charges Former UBS Advisor For Alleged Misappropriation

January 28th, 2022 at 1:15 PM
The Securities and Exchange Commission (SEC) has charged a former UBS advisor, German Nino, for allegedly misappropriating $5.8 million of client funds.
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Massachusetts Regulators Say Fidelity Rubber-Stamped Options Applications

January 27th, 2022 at 2:16 PM
Massachusetts securities regulators have filed suit against Fidelity Brokerage Services alleging unethical practices relating to the firms’ rubber-stamping of options trading applications.
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Hightower Sues Two Advisors For Allegedly Poaching Clients

January 26th, 2022 at 11:42 AM
Hightower Advisors has filed suit against two advisors for allegedly soliciting their clients to join them at their new firms.
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Top FINRA Initiatives For 2022

January 25th, 2022 at 1:01 PM
A host of new initiatives are ahead in 2022 at the Financial Industry Regulatory Authority (FINRA), according to CEO Robert Cook.
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FINRA Set To Issue Crypto Notice And Consider Expungement Reform

January 24th, 2022 at 1:38 PM
The Financial Industry Regulatory Authority (FINRA) is set to issue a regulatory notice pertaining to cryptocurrency as well as expungement reform.
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CFP Board Establishes New Appeals Commission

January 21st, 2022 at 1:39 PM
The Certified Financial Planner (CFP) Board of Standards has established a new Appeals Commission. As the name suggests, the Appeals Commission possesses the sole authority to adjudicate appeal hearings.
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Edward Jones Fails To Convince Supreme Court To Review Federal Preemption of Account Fee Suit

January 20th, 2022 at 1:12 PM
Edward Jones & Co. failed to convince the U.S. Supreme Court to analyze how a federal securities law impacts a client dispute pertaining to fee-based accounts.
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SEC Charges Texas Entities Over Oil and Gas Fraud

January 19th, 2022 at 12:50 PM
The Securities and Exchange Commission (SEC) has charged The Heartland Group Ventures, Heartland Production and Recovery, six other Heartland-affiliated entities, four Heartland-affiliated individuals as well as several oil and gas operators.
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New York Advisor Receives 17-Year Prison Sentence Over Ponzi Scheme

January 18th, 2022 at 1:43 PM
A New York-based advisor, Perry Santillo, received a 17-year prison sentence for his role in operating a Ponzi scheme that generated at least $115 million from more than 1,000 investors.
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