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A lawsuit has been filed by a former investment consultant for Charles Schwab who alleges he was the victim of age discrimination by the firm, ThinkAdvisor reports. Victor Kossowicz filed the suit in Middlesex County Superior Court in New Jersey, seeking compensatory...
The Financial Industry Regulatory Authority's Board of Governors took several actions at last month's meeting, including the approval of two rule proposals involving carrying agreements and communicating with the public. In a news release, FINRA said the board...
In a move aimed at keeping up with the rate of inflation, the Financial Industry Regulatory Authority is seeking to raise its limit on gifts, ThinkAdvisor reports. The proposal would boost the gift limit from $100 to $250 and was filed recently with the Securities and...
The Securities and Exchange Commission obtained a final judgment against New York City-based investment adviser Brite Advisors USA, Inc. that bars the firm from the industry, Financial Advisor reports. The action stems from charges that Brite Advisors failed to comply...
A Maryland financial advisor and his firm have been barred from the securities industry in the state for violations of the investment advisory and antifraud provisions of the Maryland Securities Act. InvestmentNews reported details of the enforcement actions that were...
PNC Investments has agreed to pay a $200,000 fine over violations involving its supervisory procedures pertaining to annuity products, reports ThinkAdvisor. The Financial Industry Regulatory Authority levied the penalty for PNC's failure to establish and maintain a...
The Securities and Exchange Commission has formally withdrawn 14 major proposed rules in a continuation of its shift in priorities under the Trump Administration, Financial Advisor reports. The SEC announced that is pulling back certain notices of proposed rulemaking...
The latest round in an ongoing legal battle between Merrill Lynch and one of its former brokers was reported by AdvisorHub. John Lahoud, who is now with Rockefeller Capital Management, filed a lawsuit against Merrill Lynch in federal court in New Jersey, alleging that...
A former advisor for Edward Jones has won the right to clear his record of what he said was defamatory information regarding his termination from the firm, according to ThinkAdvisor. A Financial Industry Regulatory Authority arbitrator decided recently that Matthew J....
A former advisor for Ameriprise Financial will have to pay compensatory damages to the firm after being accused of taking confidential client information with him when he left, ThinkAdvisor reports. A panel of Financial Industry Regulatory Authority arbitrators...
