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A group of investors filed a brief in appellate court in support of a judge who overturned an arbitration award that had gone in favor of Wells Fargo Advisors, Financial Advisor reports. The Jan. 25 ruling by Fulton County Superior Court Judge Belinda E. Edwards is...
A Houston couple has won an arbitration case stemming from their allegations that UBS Wealth Management USA’s Yield Enhancement Strategy (YES) exposed them to unacceptable risk, AdvisorHub reports. John Oren and his wife Elise were awarded $3.86 million in...
Four whistleblowers have been awarded a total of nearly $3.5 million by the Securities and Exchange Commission for coming forward and providing assistance in a recent investigation, the SEC announced. Information provided by three of the whistleblowers caused the...
A broker for Wells Fargo Advisors was terminated from the firm for excessive trading in his personal account, according to a report by AdvisorHub. Roger A. Graham, who was based in San Antonio, Texas, was discharged this past February. The details were listed on his...
The Certified Financial Planner Board of Standards has announced sanctions against 25 current or former certified financial planners for various violations of the profession’s ethical standards. The board issued a news release on the enforcement actions, which were...
The Financial Industry Regulatory Authority said it has imposed fines against two funding portals for violations of rules involving crowdfunding. In a news release, the authority announced the action against FINRA-registered firms Wefunder and StartEngine Capital for...
The Financial Industry Regulatory Authority has issued recent cybersecurity alerts to its member firms warning them to beware of attempted phishing attacks, ThinkAdvisor reports. On April 25, FINRA alerted firms to a fraudulent campaign using the domain name...
The chief executive officer of a New York advisory firm is facing a criminal charge after prosecutors said he embezzled funds from one of his clients, reports Financial Advisor. Adam Belardino, CEO of Maddox Group, was arrested last week and charged in U.S. District...
The Financial Industry Regulatory Authority is proposing additional steps to revamp the expungement process available to registered financial professionals, according to Financial Advisor. FINRA addressed the topic in a recent discussion paper on the expungement of...
A virtual meeting will be held Friday by the Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee to discuss proposed new rules on two separate topics, the SEC said in a news release. The committee released its agenda for the...
