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Three financial advisors are facing a lawsuit over allegations they improperly solicited clients from their former employer, according to ThinkAdvisor. David Wheatley, Timothy O’Shea, and William McDonald are the subject of a complaint filed in federal court in...
The Financial Industry Regulatory Authority is encouraging member firms to review the new anti-money laundering and countering the financing of terrorism priorities that were mandated by Congress. FINRA issued a regulatory notice to inform firms of the government-wide...
The Securities and Exchange Commission announced that it has reopened the comment period on a proposal it issued previously for implementing provisions of Section 954 of the Dodd-Frank Act. The rules, first proposed by the SEC in 2015, would require national...
The director of the SEC’s Division of Enforcement detailed some of the actions his division has initiated recently to enhance trust in financial institutions, Think Advisor reports. Gurbir Grewal spoke last Wednesday at the ‘SEC Speaks’ event held at the Practising...
The chairman of the Securities and Exchange Commission discussed the use of digital analytics in finance in remarks at a conference this week, according to Financial Advisor. SEC Chairman Gary Gensler addressed the topic at the ‘SEC Speaks’ conference at the...
The Financial Industry Regulatory Authority has upheld an earlier decision to bar a broker for misconduct involving the transfer of funds, Think Advisor reports. Thomas Lee Johnson, a former broker with RBC Capital Markets, allegedly deposited over $1 million that was...
The Financial Industry Regulatory Authority recently approved enhancements to its continuing education (CE) program, according to Investment News. Amendments to FINRA rules will allow individuals who terminate their registrations to re-register after an extended...
Broker-dealers were put on notice that they could be facing increased penalties in the future for incidents of misconduct, Advisor Hub reports. Gurbir Grewal, director of the Securities and Exchange Commission’s enforcement division, said the SEC would be examining...
Merrill Lynch has been fined by the Financial Industry Regulatory Authority following allegations of improprieties involving short sales, according to ThinkAdvisor. The firm reached a settlement with FINRA that was detailed in the authority’s letter of Acceptance,...
Financial professionals and firms who do not pay arbitration awards or fines would be subject to tougher penalties under a new rule proposed by the North American Securities Administrators Association, Financial Advisor magazine reports. The rule, released for public...
