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ÍøÆØ³Ô¹Ï Blog

Edward Jones Advisor Faces Suspension and Fine for Concealing Office Ownership

February 27th, 2024 at 1:13 PM
Lincoln L. Mason has agreed to a 90-day suspension and a $5,000 fine following allegations of deceiving the firm into leasing office space he owned.
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SEC Bars Florida Man in $35 Million Ponzi Scheme

February 26th, 2024 at 1:39 PM
Brent Seaman of Naples, Florida, has accepted a settlement in an SEC civil action, admitting to acting as an unregistered broker or dealer in the sale of securities for Accanito Equity, LLC, Accanito Equity II, LLC, Accanito Equity III, LLC, and Accanito Equity IV, LLC, from June 2019 to September 2022.
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Advisor Accepts Industry Bar Amid FINRA Probe into Outside Business Activities

February 23rd, 2024 at 1:23 PM
John A. Dougherty, a veteran advisor with 23 years of experience, agreed to an AWC (Acceptance, Waiver, and Consent) after refusing to cooperate with a regulatory investigation into allegations of undisclosed outside business activities.
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Key Considerations for Advisors When Assessing the Financial Soundness of Annuities

February 22nd, 2024 at 1:42 PM
While rating agencies like Fitch and S&P Global Ratings generally highlight the strength of annuity issuers, advisors still should scrutinize certain factors in their assessment process.
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SEC Alleges Fraud Against Morgan Stanley and Former Executive in Block Trading Business

February 21st, 2024 at 2:59 PM
As reported by the Wall Street Journal, the Securities and Exchange Commission (SEC) has charged Morgan Stanley & Co. LLC and its former head of equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information related to block trades.
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Challenges Persist: Firms Struggle to Comply with Regulation Best Interest

February 20th, 2024 at 1:26 PM
FINRA's annual report for 2024 reveals a concerning trend among broker-dealers, with numerous instances of violations of Regulation Best Interest (Reg BI).
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FINRA Flags Violations in 70% of Broker-Dealers' Crypto Communications

February 19th, 2024 at 1:54 PM
During a two-year-old targeted examination, the Financial Industry Regulatory Authority (FINRA) has identified potential violations in 70 percent of broker-dealers' communications about cryptocurrencies.
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Major Investors Opt Out of Class Actions, Pursue Larger Recoveries

February 16th, 2024 at 1:59 PM
Large shareholders increasingly are choosing to opt out of class-action settlements, a trend that has gained momentum since a pivotal US Supreme Court ruling altered the landscape.
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New Jersey Advisor Faces Charges for Alleged $89 Million Investor Fraud Scheme

February 15th, 2024 at 2:42 PM
Raymond John Pirrello Jr., a barred New Jersey advisor, has been indicted on three counts, including securities fraud conspiracy and wire fraud conspiracy, for allegedly defrauding investors of nearly $89 million.
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FINRA Adopts New Rules for Remote Inspections and Home Offices

February 14th, 2024 at 11:50 AM
The Financial Industry Regulatory Authority (FINRA) has implemented new rules to enhance its remote inspections pilot program and address home offices as "residential supervisory locations."
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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.

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