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ÍøÆØ³Ô¹Ïlls Fargo Ordered To Pay Former Credit Suisse Advisor Nearly a Million Dollars

June 3rd, 2022 at 1:36 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered ÍøÆØ³Ô¹Ïlls Fargo to pay $987,300 in compensatory damages to a former Credit Suisse advisor for aiding and abetting Credit Suisse.      
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SEC Obtains Emergency Relief To Halt Alleged Ponzi Scheme

June 3rd, 2022 at 8:40 AM
The Securities and Exchange Commission (SEC) has successfully obtained emergency relief, including asset freezes, against two investment advisory firms and their owners for allegedly selling pre-IPO shares that they did not own.      
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SEC Bars Advisor For Misleading Statements Regarding Woodbridge Securities

June 1st, 2022 at 3:13 PM
The Securities and Exchange Commission (SEC) has barred an advisor who made misleading statements in connection with sales of Woodbridge Securities through two registered investment advisory firms (RIAs).    
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Investor Advocates Push SEC to Investigate Mandatory Arbitration Requirements by RIAs

May 31st, 2022 at 1:10 PM
A coalition of investor advocates has asked the Securities and Exchange Commission (SEC) to investigate the use of mandatory arbitration clauses that RIAs typically include in their customer agreements.    
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FINRA and SEC Officials Reveal Common Pitfalls in Reg BI Exam Sweeps

May 31st, 2022 at 8:50 AM
Regulators have announced their intention to increase the frequency of examinations as they continue to discover spotty compliance even after Regulation Best Interest (“Reg. BI”) became effective two years ago.    
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Large GPB Fund Posts Revenue and Income Growth

May 26th, 2022 at 10:42 AM
After considerable delay, GPB Capital Holdings finally has released financial statements to its investors regarding one of its largest funds.    
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Allianz Pleads Guilty to Fraud and Agrees to Pay $5.8 Billion

May 25th, 2022 at 10:41 AM
A unit of Allianz SE has agreed to plead guilty to securities fraud and pay $5.8 billion in fines and restitution following the collapse of a relatively low-risk pool of investment funds amidst pandemic volatility.    
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Edward Jones Files Motion to Dismiss $15 Million Book of Business Lawsuit

May 24th, 2022 at 12:13 PM
A former Edward Jones advisor has filed suit against Edward Jones over a $15 million book of business.    
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FINRA Suspends Former Morgan Stanley Advisor Who Solicited Venture Capital Investment

May 23rd, 2022 at 3:09 PM
The Financial Industry Regulatory Authority (FINRA) has suspended a former Morgan Stanley advisor for allegedly misleading investors regarding a private placement sold by the firm.        
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SEC Bars Michigan Advisor Who Misappropriated $314,000 From Elderly Client

May 23rd, 2022 at 8:33 AM
The Securities and Exchange Commission has barred an advisor who allegedly misappropriated nearly $305,000 from an elderly client and additionally overcharged the client at least $9,000 in advisory fees.    
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