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UBS Fined $850,000 for Supervisory Failures Leading to Investor Losses

September 4th, 2024 at 11:29 AM
FINRA has fined UBS ÍøÆØ³Ô¹Ïalth Management USA $850,000 for failing to supervise an advisor who recommended unauthorized outside investments for over a decade.
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Wisconsin Financial Advisor Suspended and Fined for Unauthorized Transactions

September 3rd, 2024 at 10:18 AM
FINRA has suspended and fined Wisconsin financial advisor John E. Pelletier after he executed 16 unauthorized transactions, allowing a client's ex-wife to nearly deplete his individual retirement account (IRA).
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Advisor Sues Hightower, Alleging Age Discrimination and Unfair Treatment

August 30th, 2024 at 9:01 AM
Glenn Frank, a Massachusetts-based financial advisor, has filed a lawsuit against Hightower Holdings and Lexington ÍøÆØ³Ô¹Ïalth Management, alleging age discrimination and unfair treatment.
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Supreme Court Limits SEC's Use of In-House Tribunals in Securities Fraud Cases

August 29th, 2024 at 2:01 PM
As reported by InvestmentNews, the Supreme Court ruled in SEC v. Jarkesy that the SEC must bring actions seeking civil penalties for securities fraud in a court of law, where defendants are entitled to a trial by jury.
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FINRA Fines and Suspends Ex-UBS Advisor for Trading in Deceased Client's Account

August 28th, 2024 at 10:25 AM
As reported by AdvisorHub, the Financial Industry Regulatory Authority (FINRA) has fined a former UBS advisor Luis E. Nin $5,000 and suspended him for one month after he placed unauthorized trades in a deceased client’s account.
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Oppenheimer Seeks Court Order to Block Former Financial Advisor from Soliciting $65 Million Client Book of Deceased Advisor

August 27th, 2024 at 11:35 AM
Oppenheimer & Co. has filed a lawsuit in federal court to restrain former advisor David Dodson from soliciting a $65 million client book that belonged to a deceased advisor.
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FINRA Bars Former Merrill Lynch Advisor

August 26th, 2024 at 10:39 AM
The Financial Industry Regulatory Authority (FINRA) has barred Imdadur “Gino” Rahman, a former Merrill Lynch advisor for multiple compliance violations involving his relationship with an elderly customer.
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Q2 2024 Securities Filings and Settlements: Key Insights

August 23rd, 2024 at 1:50 PM
CRA Insights has prepared its update on Section 10(b) and Section 11 filings and settlements.
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Department of Labor's New Retirement Security Rule: What it Means for Financial Advisors

August 22nd, 2024 at 10:45 AM
The Department of Labor (DOL) unveiled its final Retirement Security Rule, addressing the fiduciary obligations of financial advisors handling retirement-related investments for plan sponsors and individuals.
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Brokerages Face Technical Meltdown Amid Market Turmoil

August 21st, 2024 at 11:42 AM
InvestmentNews recently reported that a severe technical glitch disrupted several major online brokerages as investors scrambled to trade amidst a sharp market downturn.
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