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FINRA Bars Illinois Advisor for Failing to Disclose Private Securities Transactions

July 17th, 2023 at 8:51 AM
The Financial Industry Regulatory Authority (FINRA) has barred an Illinois-based representative, David R. Geake, due to allegations of soliciting an elderly couple to invest in a startup he was involved with.
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SEC to Implement New Rules for Money-Market Mutual Funds, Potentially Clashing with Industry Giants

July 13th, 2023 at 11:18 AM
The US Securities and Exchange Commission (SEC) is preparing to enforce a series of new regulations on money-market mutual funds, potentially leading to a confrontation with major players in the $5.5 trillion industry.
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FINRA Bars Former ÍøÆØ³Ô¹Ïlls Fargo Broker for Non-Cooperation in Investigation

July 12th, 2023 at 11:45 AM
The Financial Industry Regulatory Authority (FINRA) has barred Brad M. Jacobson, a former broker at ÍøÆØ³Ô¹Ïlls Fargo Advisors and a 17-year wirehouse veteran, due to his failure to cooperate with an investigation into his termination.
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FINRA Reports $218 Million Net Loss in 2022; CEO Compensation Surges by 11.5%

July 11th, 2023 at 11:42 AM
According to its annual report, the Financial Industry Regulatory Authority (FINRA) reported a net loss of $218.1 million in 2022, compared to a net profit of $218.8 million in 2021.
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FINRA Penalizes Hightower Securities with $353,000 Fine & Restitution for Violations in Alternative Fund Sales

July 10th, 2023 at 11:46 AM
The Financial Industry Regulatory Authority (FINRA) has censured Hightower Securities, the broker-dealer for Hightower Advisors, a Chicago-based advisory firm.
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SEC Files Charges Against Oregon Residents and Affiliated Entities in $10 Million Ponzi-like Scheme

July 7th, 2023 at 1:11 PM
The Securities and Exchange Commission (SEC) has filed charges against Robert D. Christensen and Anthony M. Matic, residents of Oregon, along with multiple companiesunder their control.
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Merrill Lynch Ends Relationship with 44-Year Veteran in Indianapolis for Policy Violations

July 6th, 2023 at 1:13 PM
Merrill Lynch has ended its association with Bruce McCaw, a highly experienced industry professional who began his career in 1971.
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SEC Struggles with RIA Arbitration Statistics

July 6th, 2023 at 8:43 AM
A recent report reveals that the Securities and Exchange Commission (SEC) lacks the means to monitor the count of registered investment advisor (RIA) arbitrations or keep track of unpaid arbitration awards.
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SEC Report Highlights Concerns Over Mandatory Arbitration Clauses In RIA Practices

June 30th, 2023 at 1:05 PM
A recent report from the Securities and Exchange Commission (SEC) to Congress has expressed concerns regarding using mandatory arbitration clauses in retail customer agreements by registered investment advisory (RIA) firms.   
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Investment Adviser Numbers Reach Unprecedented Heights

June 29th, 2023 at 1:22 PM
According to the Investment Adviser Association's (IAA) recent industry study, the number of investment advisers reached a record high in 2022, along with an increase in total employment in the sector.
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