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Colorado Cracks Down on Imposter Investment Firms

May 9th, 2024 at 1:10 PM
Colorado Securities Commissioner Tung Chan recently took action against two fraudulent investment firms, Joyce Dunbar Management, and Fluxia Capital Management, accusing them of deceptive practices.
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J.P. Morgan Securities Ordered to Pay Damages Over Defamation Claims

May 8th, 2024 at 11:55 AM
J.P. Morgan Securities has been directed to pay $250,000 in damages to a New York financial advisor following allegations of defamation in a regulatory filing upon his departure from the firm in 2022.
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UBS Advisors Ordered to Pay Nearly $334,000 in Dispute with AllianceBernstein

May 7th, 2024 at 1:47 PM
An arbitration award revealed that two UBS advisors in Philadelphia, Elijah Dornstreich and Ryan DePaul, are required to pay approximately $334,000 in damages, legal fees, and costs to their former firm, AllianceBernstein, due to a dispute over customer solicitation.
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SEC Cracks Down on Misuse of Artificial Intelligence

May 6th, 2024 at 2:53 PM
The U.S. Securities and Exchange Commission (SEC) has taken action against two money managers, Delphia (USA) Inc. and Global Predictions Inc., for allegedly making false and misleading statements regarding their utilization of artificial intelligence (AI) technology.
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Court Grants Former Advisor Temporary Protection in Legal Battle Against Hightower Holdings

May 3rd, 2024 at 11:24 AM
In a legal battle between a former advisor and Hightower Holdings, a Washington state court has issued a temporary restraining order (TRO) against the Chicago-based firm.
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FINRA Bars Former E-Trade Broker for Refusal to Cooperate in Investigation

May 2nd, 2024 at 10:33 AM
Matthew J. Chimento, a former broker at E-Trade Securities in Alpharetta, Georgia, has been barred by FINRA for failing to provide information and documents related to allegations of unauthorized fund transfers from a client's account.
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FINRA Arbitration Awards ÍøÆØ³Ô¹Ïlls Fargo Over $3 Million in Dispute with Ohio RIA Founders

May 1st, 2024 at 10:29 AM
A recent FINRA arbitration decision has ordered a Cincinnati-based registered investment advisor firm and two of its founders to pay ÍøÆØ³Ô¹Ïlls Fargo more than $3 million in combined damages.
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Commonwealth Financial Network Ordered to Pay $93.3 Million Over Conflicts of Interest

April 30th, 2024 at 1:35 PM
Commonwealth Financial Network has been directed to pay $93.3 million due to its failure to disclose conflicts of interest linked to a revenue-sharing program with aFidelity Investments unit.
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FINRA Regulatory Report Highlights Key Challenges

April 29th, 2024 at 1:41 PM
FINRA's recently released 2024 regulatory oversight report sheds light on evolving trends and challenges in the financial industry.
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Morgan Stanley Seeks Injunction Against Former Advisor for Soliciting Clients

April 26th, 2024 at 9:14 AM
Morgan Stanley has taken legal action against Gregory T. Chevrier to prevent him from contacting his former clients.
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