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SEC Fines Five Investment Advisory Firms for Marketing Rule Violations

May 24th, 2024 at 2:16 PM
The Securities and Exchange Commission (SEC) has taken action against five registered investment advisory (RIA) firms for breaching its updated marketing rule, resulting in a combined penalty of $200,000, as disclosed in a recent announcement.
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Stifel Fined Nearly $3 Million for Supervisory Failures

May 23rd, 2024 at 1:12 PM
Stifel Financial Corp. has agreed to pay fines and restitution totaling nearly $3 million due to deficiencies in supervision and compliance regarding the sale of non-traditional exchange-traded funds (NT-ETFs) and products per a filed AWC (Acceptance, Waiver, and Consent).
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Department of Labor Unveils New Fiduciary Rule

May 22nd, 2024 at 9:11 AM
The Department of Labor (DOL) has announced a comprehensive update to its fiduciary rule, marking a significant overhaul of regulations dating back to 1975.
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FBI Report Highlights Rising Elder Fraud Trends

May 21st, 2024 at 11:00 AM
The FBI's Internet Crime Complaint Center (IC3) released its 2023 Elder Fraud Report, revealing a concerning surge in elder fraud complaints and associated losses.
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Financial Advisor Faces Prison for Defrauding Military Families

May 20th, 2024 at 1:15 PM
A former financial advisor, Caz Craffy, faces a 20-year prison sentence for defrauding families of deceased military servicemembers, raking in over $1 million in commissions along the way.
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Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing

May 17th, 2024 at 11:41 AM
A former Fidelity Investments advisor, Michael Maeker, has initiated legal action against his former firm, alleging wrongful termination in response to his reporting of anti-investor sales tactics.
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CFTC Investigates Banks for Potential Whistleblower Suppression

May 16th, 2024 at 10:26 AM
The Commodity Futures Trading Commission (CFTC) has initiated inquiries into several banks, including JPMorgan Chase, Bank of America, and Citigroup, regarding potentially hindering whistleblowers from disclosing information, as reported by Bloomberg News.  
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NFA Issues Order Against 50.ai Investments LLC

May 15th, 2024 at 2:54 PM
The National Futures Association's (NFA) Business Conduct Committee (BCC) has taken action against 50.ai Investments LLC, a former NFA Member commodity pool operator and forex firm, for violating multiple NFA compliance rules.
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Former Edward Jones Advisor Cleared to Solicit Clients for ÍøÆØ³Ô¹Ïlls Fargo Advisors

May 13th, 2024 at 1:12 PM
In a recent decision, a panel of three Financial Industry Regulatory Authority (FINRA) arbitrators ruled against Edward D. Jones & Co., allowing one of its former advisors, Justin P. Mackay, to solicit his former clients to transfer their assets to ÍøÆØ³Ô¹Ïlls Fargo Advisors.
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SEC Bars Financial Advisor for Securities Trading Scheme

May 10th, 2024 at 1:33 PM
The Securities and Exchange Commission (SEC) has barred financial advisor Andrew Komarow from the securities industry, following a similar bar by FINRA.
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The Financial Industry Regulatory Authority (FINRA) recently released its Quarterly Regulatory Policy Agenda, offering a detailed view of its rulemaking priorities, pending proposals, and recently approved regulatory changes.

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Commonwealth Financial Network Resolves SEC Conflict of Interest Case

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