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FINRA Suspends Former TD Securities Representative for Improper Expense Charges

May 5th, 2025 at 12:12 PM
FINRA has suspended former TD Securities representative Kate Yumi Lam for 12 months and fined her $10,000 for improperly charging personal commuting and meal expenses to the firm's account.
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Former Edward Jones Broker Indicted for Defrauding Elderly Widow

May 2nd, 2025 at 3:00 PM
Federal prosecutors have indicted a former Edward Jones financial advisor on charges of wire fraud, mail fraud, money laundering, and tax violations after he allegedly stole more than $920,000 from a 77-year-old widowed client.
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FINRA Fines Sanctuary ÍøÆØ³Ô¹Ïalth $150,000 for AML Program Deficiencies

May 1st, 2025 at 12:49 PM
FINRA has fined and censured independent broker-dealer Sanctuary ÍøÆØ³Ô¹Ïalth Management $150,000 for failing to establish an adequate anti-money laundering (AML) program to detect and report suspicious transactions.
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Cambridge Investment Research Advisors to Pay $15 Million Fine Over Undisclosed Conflicts in Investment Recommendations

April 30th, 2025 at 11:37 AM
Cambridge Investment Research Advisors (CIRA) has agreed to pay $15 million to settle allegations brought by the Securities and Exchange Commission (SEC), which accused the firm of failing to disclose multiple conflicts of interest in its investment recommendations.
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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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