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J.P. Morgan Files Suit Against Former Advisor Over Alleged Client-Poaching

August 3rd, 2022 at 1:40 PM
J.P. Morgan has filed suit against a former advisory who allegedly poached clients after departing the firm to join Stifel, Nicolaus & Co.
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Equitable to Pay $50 Million Over Misleading Statements on Annuity Fees

August 2nd, 2022 at 2:15 PM
The Securities and Exchange Commission (SEC) has filed fraud charges against Equitable Financial Life Insurance Co. for furnishing account statements to nearly 1.4 million variable annuity investors containing materially misleading statements as well as omissions regarding investor fees.
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SEC Charges Four Unregistered Advisors For Selling Sky Group Securities

August 1st, 2022 at 2:22 PM
The Securities and Exchange Commission (SEC) has charged four individuals for improperly selling securities of Sky Group, a Miami-based payday loan company.
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SEC Releases Statement on Jury Trial Decision Involving McDermott Investment Advisors

July 28th, 2022 at 3:09 PM
The Securities and Exchange Commission (SEC) has released a statement indicating that a Pennsylvania jury has ruled in its favor in a suit filed nearly three years ago against Dean McDermott and his firm over improper sales of unit investment trusts (UITs).
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SEC Issues Warning Related to Single-Stock Levered and Inverse ETFs

July 27th, 2022 at 2:19 PM
The Securities and Exchange Commission (SEC) has released a statement addressing single-stock levered and inverse exchange-traded funds (ETFs), which soon will enter the market.
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SEC Issues Investor Warning Related to Single-Stock ETFs

July 26th, 2022 at 3:32 PM
While the Securities and Exchange Commission (SEC) has regularly updated its regulatory framework to address the introduction of complex exchange-traded products (ETPs), the SEC now is warning investors about single-stock exchange-traded funds (ETFs), which are set to soon hit the market.
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$1.8 Million SEC Judgement Against Advisor Upheld on Appeal

July 25th, 2022 at 1:27 PM
The Securities and Exchange Commission (SEC) has convinced the U.S. Court of Appeals for the Seventh Circuit to uphold a $1.8 million judgment imposed on an advisor accused of fraud.
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Reg BI Lands in Top 15 of Customer Disputes in FINRA Arbitration

July 22nd, 2022 at 12:52 PM
After taking effect nearly two years ago, Regulation Best Interest (Reg BI) has entered the top 15 of FINRA arbitration claims.
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CFP Board Issues 17 Sanctions in its Recent Round of Disciplinary Actions

July 21st, 2022 at 12:55 PM
The Certified Financial Planner Board of Standards (CFP Board) recently issued sanctions against 17 CFP professionals for a host of violations, including attempting to cheat on the CFP exam, failing to pay taxes, and stealing reward points from an employer’s credit card.
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SEC Charges Former LPL Advisor With Misappropriating $1.7 Million

July 20th, 2022 at 2:39 PM
The Securities and Exchange Commission (SEC) has charged a former LPL advisor with misappropriating $1.7 million from at least three clients to cover personal expenses, including the purchase of a house.
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