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Robinhood Settles Regulatory Action and Agrees to Overhaul Gamification Practices

February 13th, 2024 at 1:44 PM
After a prolonged legal battle with the Massachusetts Securities Division, Robinhood has agreed to pay $7.5 million and revamp its digital engagement practices, according to Secretary of the Commonwealth William Galvin.
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FINRA Sanctions Former Edward Jones Financial Advisor for Unauthorized Trades

February 12th, 2024 at 10:57 AM
A former Edward Jones financial advisor in San Francisco, Jilena Yuen-Han Mok, has been fined and suspended by the Financial Industry Regulatory Authority (FINRA) for engaging in unauthorized trading.
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New "XXXX" Exchange-Traded Notes Draw Attention

February 9th, 2024 at 11:21 AM
A recently introduced investment strategy in the United States is gaining attention for its amplified stock leverage.
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FINRA Issues Warning Amid Surge in "Investment Group" Frauds on Social Media

February 8th, 2024 at 2:27 PM
The Financial Industry Regulatory Authority (FINRA) reports a surge in investor complaints related to fraudulent "investment groups" exploiting social media platforms.
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FINRA Takes Action Against Former Cambridge Advisor for Annuity Exchange Violations

February 7th, 2024 at 3:10 PM
Malay Kumar, a former advisor affiliated with Cambridge Investment Research, recently agreed to settle a disciplinary matter brought by FINRA. The AWC (Acceptance, Waiver, and Consent) reflects a $10,000 fine and a 12-month suspension. The settlement revealed that Kumar recommended a series of variable annuity exchanges that violated Reg BI.
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RIA EverNest Files Lawsuit to Sever Ties with Sanctuary ÍøÆØ³Ô¹Ïalth Following FINRA Fine

February 6th, 2024 at 10:45 AM
EverNest Financial Advisors, a Carmel, Indiana-based registered investment adviser, has filed a lawsuit seeking to reverse a deal where it sold a 20 percent stake to Sanctuary ÍøÆØ³Ô¹Ïalth almost two years ago.
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Former Ameriprise Advisor Barred by FINRA for Non-Cooperation in Crypto Business Investigation

February 5th, 2024 at 1:15 PM
A former Ameriprise Financial advisor, Eric V. Kubiak, has chosen an industry bar over full cooperation with a Financial Industry Regulatory Authority (FINRA) investigation into his undisclosed outside business activity involving crypto assets.
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Financial Advisor Sentenced to 8 Years for Defrauding Amish Investors

February 2nd, 2024 at 2:18 PM
Earl D. Miller, convicted in 2022 for defrauding Amish and Mennonite investors through his real estate investment firm, "5 Star", has been sentenced to over eight years in prison.
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FINRA Fines and Suspends Merrill Lynch Advisor Over Unauthorized Role as Estate Executor

February 1st, 2024 at 1:26 PM
Frederick R. Watson, a veteran advisor with 37 years of experience at Merrill Lynch, has been fined $10,000 and suspended for four months by the Financial Industry Regulatory Authority (FINRA).
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SEC Raises Concerns Over Arbitration Clauses in Investment Advisory Agreements

January 31st, 2024 at 1:17 PM
A cautionary note has been sounded by an investor advocacy group operating within the Securities and Exchange Commission (SEC), signaling potential fiduciary duty violations by registered investment advisers employing contract clauses to steer client disputes into arbitration.
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