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Barred Advisor Continues Pattern of Settlements at ÍøÆØ³Ô¹Ïstern International Securities

January 23rd, 2025 at 12:18 PM
Chris Kennedy, a barred advisor formerly associated with ÍøÆØ³Ô¹Ïstern International Securities, has agreed to a $2.1 million settlement with the Securities and Exchange Commission (SEC) over allegations of high-volume trading, or churning, in client accounts.
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FINRA to Revise Outside Business Activities Rules

January 22nd, 2025 at 10:46 AM
The Financial Industry Regulatory Authority (FINRA) is seeking to overhaul its rules on outside business activities (OBA) and private securities transactions.
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FINRA Orders $8.2 Million in Customer Restitution Over Mutual Fund Fee Errors

January 21st, 2025 at 3:17 PM
FINRA has required Edward Jones, Osaic ÍøÆØ³Ô¹Ïalth, and Cambridge Investment Research to reimburse customers a combined total of more than $8.2 million for improperly charged mutual fund sales fees.
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ÍøÆØ³Ô¹Ïlls Fargo and LPL Financial Settle SEC Charges Over Blue Sheet Reporting Errors

January 20th, 2025 at 3:36 PM
The Securities and Exchange Commission (SEC) announced settlements with ÍøÆØ³Ô¹Ïlls Fargo Clearing Services and LPL Financial, each agreeing to pay a $900,000 penalty for failing to provide complete and accurate securities trading information, also known as electronic blue sheet data. 
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FINRA Suspends and Fines Advisor for Misleading L Bond Sales

January 17th, 2025 at 2:30 PM
The Financial Industry Regulatory Authority (FINRA) has suspended and fined Alan Mason for violating Regulation Best Interest by recommending high-risk L bonds to a retail customer.
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Former Merrill Lynch Advisor Wins Expungement of Allegations Tied to CBD Business

January 16th, 2025 at 11:43 AM
Charles Thomas “Todd” Mercer Jr., a former top Merrill Lynch advisor, successfully cleared his public record of allegations that hindered his ability to attract clients after transitioning to an independent practice. 
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SEC Charges Nigerian Trio for Impersonating Financial Professionals in $2.9 Million Fraud Scheme

January 15th, 2025 at 2:29 PM
The Securities and Exchange Commission (SEC) has charged three individuals from Nigeria with orchestrating an elaborate online fraud scheme, stealing the identities of licensed financial advisors and investment advisers to defraud retail investors of over $2.9 million.
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Jefferies Financial Group Terminates Employment of Miami Team for Alleged Misconduct

January 14th, 2025 at 2:36 PM
According to Form U-5 filings, Jefferies Financial Group recently terminated a group of Miami-based wealth advisors allegedly after uncovering improper money transfers and attempts to conceal the activity through off-channel communications. The firm dismissed Marcelo Poliak, Rodrigo Soto, Guillermo Guerra, Pablo Gherardi, and four other team members over “impermissible money-wire transfers” and “deleted” communications.
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Former Merrill Lynch Executives Launch Indivisible Partners, a New Independent Advisory Firm

January 13th, 2025 at 3:11 PM
John W. Thiel, the former head of Merrill Lynch ÍøÆØ³Ô¹Ïalth Management, has announced plans to launch Indivisible Partners, an independent registered investment advisory (RIA) firm, in early 2025.   
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FINRA Arbitration Panel Clears Advisor's Record of Defamatory Allegations

January 10th, 2025 at 2:14 PM
A FINRA arbitration panel has ruled in favor of Mary J. Howard, a former RBC ÍøÆØ³Ô¹Ïalth Management advisor, allowing her to expunge defamatory allegations from her Form U-5 termination record.
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