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Former LPL Affiliate Compliance Chief Suspended by FINRA for Unauthorized $1 Million Transfer

September 28th, 2023 at 2:20 PM
The Financial Industry Regulatory Authority (FINRA) fined and suspended Jeffrey K. Kirkpatrick, a former chief compliance officer at a registered investment advisor previously affiliated with LPL.
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Former Creative Planning Staff File Lawsuit Challenging Non-Compete Agreements

September 27th, 2023 at 10:28 AM
Four former employees of Creative Planning have filed a lawsuit, alleging that their non-compete agreements with the firm unlawfully restrict their ability to work in the industry.
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Looming Real Estate Crisis Poses Risk to U.S. Banking Sector

September 26th, 2023 at 11:37 AM
With the current downturn in the commercial real estate market, trillions of dollars in loans and investments pose a looming threat to both the banking industry and potentially the broader economy.
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Legal Challenges Over 'Money-for-Nothing' Payments Gain Momentum

September 25th, 2023 at 11:37 AM
Apollo Global Management and Carlyle Group, two major private equity firms, now face investor lawsuits regarding payments made to insiders without apparent justification.
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State Regulators Maintain Opposition to FINRA's Remote Supervision Pilot Program

September 22nd, 2023 at 10:55 AM
The North American Securities Administrators Association (NASAA) and the Public Investor Advocate Bar Association (PIABA) has consistently opposed the Financial Industry Regulatory Authority's (FINRA) proposal for a voluntary three-year pilot program for remote inspections.
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SEC Charges Private Equity Firm Over Fee Disclosure Failures to Affiliate

September 21st, 2023 at 11:03 AM
The Securities and Exchange Commission (SEC) has charged Prime Group Holdings LLC, a private equity firm specializing in alternative real estate asset investments, withinadequate disclosure of millions of dollars in real estate brokerage fees paid to a brokerage firm owned by its CEO.
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SEC Orders Legendary Capital Founder and REIT Advisors to Pay Nearly $5 Million

September 20th, 2023 at 8:49 AM
Corey Maple, co-founder of non-traded REIT sponsor Legendary Capital, has agreed to a $100,000 civil penalty to settle charges brought by the Securities and Exchange Commission (SEC).
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Reg BI Violations Lead to FINRA's Fine on Another Broker-Dealer

September 19th, 2023 at 10:26 AM
The Financial Industry Regulatory Authority (FINRA) has fined and censured broker-dealer Network 1 Financial Securities and its chief compliance officer for violating Regulation Best Interest (Reg BI).
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Troubles at an Arizona Park Funded by Municipal Bonds Are a Warning to Investors

September 18th, 2023 at 2:20 PM
The recent financial troubles at a sports arena in Mesa, Arizona, demonstrate that not all municipal bonds are equally safe.
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Goldman Sachs and JPMorgan Join $500 Million Lawsuit Settlement

September 15th, 2023 at 1:35 PM
Goldman Sachs Group Inc., Morgan Stanley, JPMorgan Chase & Co., and UBS AG have agreed to settle an antitrust class action by pension funds over their control of the market for stock loans for hedging and short selling, according to Bloomberg Law.
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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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