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Former Advisor Receives Nearly 22 Years in Prison Over Fake-Annuity Scheme

August 23rd, 2022 at 2:37 PM
A former Ohio-based advisor has received a 22-year prison sentence after being convicted of misappropriating at least $9.3 million from clients.
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ÍøÆØ³Ô¹Ïlls Fargo and Former Advisor Ordered to Pay Customers In Churning Dispute

August 22nd, 2022 at 1:39 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered ÍøÆØ³Ô¹Ïlls Fargo and a former advisor to pay a Pennsylvania couple at least $731,000 over a churning dispute that last nearly five years. 
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FINRA Fines J.P. Morgan Over Failure to Supervise a Former Advisor

August 19th, 2022 at 1:30 PM
The Financial Industry Regulatory Authority (FINRA) has fined J.P. Morgan $200,000 for failing to reasonably supervise a former advisor who made several unsuitable trades in his wealthy grandmother’s account. 
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CFPB Investigates Goldman’s Credit Card Business

August 18th, 2022 at 1:04 PM
Goldman Sachs has announced that the Consumer Financial Protection Bureau (CFPB) is investigating its credit card business. 
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SEC Warns Financial Advisory Firms Regarding Conflicts of Interest Tied to Compensation

August 16th, 2022 at 2:37 PM
The Securities and Exchange Commission (SEC) has sent a warning to financial advisory firms that they must go above and beyond solely disclosing conflicts of interest related to employee pay programs in order to avoid regulatory scrutiny. 
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FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices

August 15th, 2022 at 2:22 PM
The Financial Industry Regulatory Authority (FINRA) has filed proposed changes to FINRA Rule 3110 with the Securities and Exchange Commission (SEC).
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SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

August 12th, 2022 at 1:28 PM
The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.
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FINRA Suspends Former Schwab Advisor for Failing to Disclose Felony Charges

August 11th, 2022 at 2:13 PM
The Financial Industry Regulatory Authority (FINRA) has suspended a former Charles Schwab advisor who allegedly failed to disclose multiple felony charges.
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UBS ÍøÆØ³Ô¹Ïalth Group’s Legal Costs Skyrocket in Q2

August 10th, 2022 at 5:48 PM
UBS ÍøÆØ³Ô¹Ïalth’s litigation expenses have substantially spiked in the second quarter as the firm has faced a host of investor complaints and regulatory probes into UBS’ volatile Yield Enhancement Strategy (YES).
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UBS ÍøÆØ³Ô¹Ïalth Relying on Lending as Client Assets Dip

August 9th, 2022 at 3:24 PM
UBS ÍøÆØ³Ô¹Ïalth Management is relying on loan growth and increasing interest rates amidst a quarter that the company has categorized as “one of the most challenging periods for investors in the last 10 years”, according to UBS CEO Ralph Hamers.
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