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ÍøÆØ³Ô¹Ï Blog

Kentucky Advisor Sues LPL Financial for Alleged Corporate Raid

July 26th, 2024 at 9:01 AM
A Kentucky advisor, Mark Lamkin, has filed a lawsuit against LPL Financial, claiming the independent broker-dealer orchestrated a corporate raid that resulted in the loss of his firm’s entire book of managed assets.
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FINRA Plans Fee Increases Amid Rising Costs and Losses

July 25th, 2024 at 10:51 AM
The Financial Industry Regulatory Authority (FINRA) has announced plans to raise fees for its approximately 3,300 broker-dealer member firms. According to AdvisorHub, the self-regulator faces soaring costs, as detailed in its annual report published at the end of June.
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Raymond James Settles with Oregon Over Excessive Commissions

July 24th, 2024 at 1:36 PM
Raymond James recently settled a case with Oregon's Division of Financial Regulation (“DFR”), agreeing to pay nearly $200,000 over allegations of charging excessive commissions to retail investors.
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Former Florida Financial Advisor Charged with $2.7 Million Fraud Scheme

July 23rd, 2024 at 12:10 PM
According to ThinkAdvisor, federal prosecutors have charged former Florida financial advisor Jared Dean Eakes with wire fraud, alleging he scammed clients out of over $2.7 million across multiple states, including Alabama, Arkansas, Florida, Missouri, and elsewhere.
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Financial Advisors Win Arbitration Over "Book of Business" Dispute

July 22nd, 2024 at 3:02 PM
In a lengthy arbitration dispute, two Miami-based financial advisors, Eduardo Augsten and Gustavo Vega, battled over revenue generated from their shared book of business.
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Cambridge Investment Research Faces FINRA Review and SEC Penalties

July 19th, 2024 at 11:15 AM
Cambridge Investment Research is under review by FINRA's examination staff and anticipates making a $500,000 restitution payment to certain clients in 2024.
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Financial Institutions Struggle to Combat Rising Authorized Transfer Scams

July 18th, 2024 at 1:02 PM
According to InvestmentNews, financial institutions are increasingly grappling with authorized transfer scams as scammers become more adept at convincing individuals to transfer funds. Despite prioritizing resources to mitigate those scams, only 50 percent of financial institutions feel confident in their ability to detect and stop fraudulent activities.
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Morgan Stanley Settles Block Trade Investigations for $249 Million

July 18th, 2024 at 11:39 AM
Morgan Stanley has agreed to pay $249.4 million to resolve criminal and civil investigations into its handling of large stock trades for customers, according to a recent story in The Wall Street Journal.
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FINRA Sanctions CFP for Sharing Exam Content

July 17th, 2024 at 1:40 PM
The Financial Industry Regulatory Authority (FINRA) has fined Certified Financial Planner Joseph Occhipinti $5,000 and suspended him for one month for sharing CFP exam content with others.
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FINRA Bars Two Former Raymond James Advisors for Non-Cooperation in Investigations

July 16th, 2024 at 10:28 AM
The Financial Industry Regulatory Authority (FINRA) has barred two former Raymond James financial advisors after they refused to cooperate with investigations into their departures from the St. Petersburg Florida-based firm, according to AdvisorHub.
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TESTIMONIALS

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Jim, Stephany and the whole team were a God send.  ÍøÆØ³Ô¹Ï felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

LATEST NEWS AND ARTICLES

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FINRA Suspends Former Branch Manager for Supervisory Failures Linked to Excessive Trading and Churning

A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.

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David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.

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Private Credit Funds Face Mounting Redemption Pressure as Investor Sentiment Shifts

A surge in investor redemption requests has intensified pressure on private credit funds, raising concerns about liquidity and long-term stability across the asset class, as reported by The Wall Street Journal.