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FINRA Releases Regulatory Notice Urging Advisors To Prepare Succession Plans

November 15th, 2022 at 1:12 PM
The Financial Industry Regulatory Authority (FINRA) is urging financial advisors to establish a succession plan incase of unexpected life events as an increased number of advisors near retirement.
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Former Advisor Receives 20-Year Prison Sentence Over Ponzi Scheme Involving Purchase of Advisors’ Books of Business

November 14th, 2022 at 1:04 PM
A former financial advisor who was sentenced earlier this year to 17.5 years in prison for his role in operating a Ponzi scheme now has received a 20-year prison sentence for mail fraud related to the same scheme, according to court documents.
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FINRA Seeks to Extend Remote Inspections Through 2023

November 11th, 2022 at 12:55 PM
The Financial Industry Regulatory Authority (FINRA) is once again seeking to extend a temporary rule permitting financial advisory firms to remotely examine branch offices. 
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FINRA Suspends Former LPL Advisor Who Promised Client “Plenty of Moneyâ€

November 10th, 2022 at 2:11 PM
The Financial Industry Regulatory Authority (FINRA) has issued a three-month suspension and $10,000 fine to a former LPL advisor who allegedly promised to double a client’s investment by improperly texting the client from a personal phone.
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Hartman Short Term Income Properties Hires Raymond James to Consider Strategic Alternatives

November 9th, 2022 at 2:55 PM
A publicly registered non-traded real estate investment trust, Hartman Short Term Income Properties, has announced that its board of directors has hired Raymond James to help the business pursue strategic alternatives. 
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Former Securities America Advisor Charged with Misappropriating $260,000

November 8th, 2022 at 1:20 PM
The Financial Industry Regulatory Authority (FINRA) has barred a former Securities America advisor who allegedly misappropriated $260,000 from clients.
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Merrill to Discontinue 3% Withholding on Financial Advisor Pay

November 7th, 2022 at 1:16 PM
Merrill Lynch has announced plans to discontinue a 2019 pay cut program in a rare concession to its sales force amidst a period of elevated attrition, according to AdvisorHub sources.
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SEC Obtains Final Judgement Against Cetera Advisors Over Fraud

November 4th, 2022 at 1:40 PM
The Securities and Exchange Commission (SEC) has obtained a final judgement against Cetera Advisors and Cetera Advisor Networks.
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SEC Bars California Advisor For Fraud

November 3rd, 2022 at 3:22 PM
The Securities and Exchange Commission (SEC) has barred a California-based financial advisor and his firm for engaging in fraud. 
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FINRA Orders Raymond James to Pay $1.1 Million For Overcharges and Supervisory Failures

November 2nd, 2022 at 3:11 PM
The Financial Industry Regulatory Authority (FINRA) has ordered Raymond James to pay at least $1.1 million over supervisory failures that resulted in excessive commissions charged to clients as well as unauthorized changes to account designations on trades. 
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FINRA Warns of Growing Risks From Finfluencers and AI-Driven Investment Content

Financial Industry Regulatory Authority (FINRA) regulators are raising concerns about the increasing influence of social media personalities and artificial intelligence (AI) on retail investors, particularly those managing their own investments without professional guidance.

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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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SEC Sanctions David Lerner Associates for Regulation Best Interest Violations

David Lerner Associates has agreed to settle Securities and Exchange (SEC) charges alleging violations of Regulation Best Interest (Reg BI) that resulted in unnecessary costs to retail investors, according to InvestmentNews.