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Merrill Lynch Fires Veteran Advisor for Ignoring Mandated Commission Discounts

April 29th, 2025 at 11:36 AM
Merrill Lynch has terminated Daniel G. Diaz, a 37-year industry veteran, for refusing to apply commission discounts to certain client accounts as instructed by management, according to his Central Registration Depository (CRD) record.
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Former Morgan Stanley Advisor Barred After Fraudulent Check Allegations

April 28th, 2025 at 4:00 PM
Roger A. Gallagher has accepted an industry bar from FINRA rather than cooperate with a regulatory investigation. According to a FINRA Acceptance, Waiver, and Consent letter (“AWC”).
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Rosedale Advisory Firm Fined for Role in NCAA Player Referral Bribery Scheme

April 25th, 2025 at 2:18 PM
The Securities and Exchange Commission (SEC) has finalized a cease-and-desist proceeding against Rosedale, a former SEC-registered investment adviser, for violations of the Investment Advisers Act of 1940.
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SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors

April 24th, 2025 at 2:14 PM
According to InvestmentNews, the Securities and Exchange Commission (“SEC”) has charged registered investment advisor Upright Financial Corp. and its founder, David Yow Shang Chiueh, for violating a prior settlement agreement and continuing a pattern of misconduct that allegedly defrauded investors and breached fiduciary duties.
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Ex-Merrill Lynch Advisor to Appeal Ruling Dismissing ERISA Class Action

April 23rd, 2025 at 11:52 AM
A former Merrill Lynch advisor plans to challenge a federal judge’s ruling that dismissed his proposed class action against the firm when it forfeited his deferred compensation.
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FINRA Proposes Accelerated Arbitration for Ill Parties and Elderly

April 22nd, 2025 at 12:07 PM
The Financial Industry Regulatory Authority (“FINRA”) has submitted a proposed rule change to the SEC aimed at speeding up arbitration proceedings for parties who are elderly or suffering from serious health conditions.
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Former Morgan Stanley Advisor Sentenced to 12 Years in Prison for Multimillion-Dollar Fraud

April 21st, 2025 at 11:14 AM
Jesus Rodriguez de la Cruz, a former Morgan Stanley advisor, has been sentenced to 12 years in federal prison for orchestrating a complex fraud scheme that misappropriated millions from clients and the firm itself, AdvisorHub reports.
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Robinhood Markets Faces Scrutiny in Massachusetts Investigation

April 18th, 2025 at 2:03 PM
Massachusetts Secretary of State Bill Galvin has issued a subpoena to Robinhood Markets Inc., seeking information on the firm’s prediction-markets business and its potential links to gambling.
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SEC Charges Hedge Fund Founder with Fraud in $4 Million Scheme

April 17th, 2025 at 1:59 PM
The Securities and Exchange Commission (SEC) has charged Alan Burak, founder of Never Alone Capital LLC, with orchestrating a fraudulent investment scheme that raised approximately $4 million from investors.
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GWG Bondholders Offered Settlement Worth Just Cents on the Dollar

April 16th, 2025 at 11:44 AM
Distressed investors who purchased $1.6 billion in GWG L bonds may soon receive a small fraction of their original investment under a proposed settlement.
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