The Securities and Exchange Commission has issued a report on its enforcement results for the fiscal year 2022. In a news release, the SEC said it had filed a total of 760 enforcement actions for the year, a 9 percent increase from fiscal year 2021. The commission...
CFP Board proposes time limit to file for reinstatement after suspension order
The Certified Financial Planner Board of Standards is proposing several changes to its procedural rules to reform elements of its enforcement process, according to InvestmentNews. The board released the changes last week for public comment, setting January 23, 2023 as...
FINRA suspends former Merrill Lynch broker over outside business activities
The Financial Industry Regulatory Authority has suspended and fined a former broker for Merrill Lynch who was discharged from the firm over his outside business activities, AdvisorHub reports. FINRA announced the action against Christopher T. Eriksson, who was based...
Former Wells Fargo broker barred in case involving unreturned funds
A former broker for Wells Fargo Advisors has been barred from the industry in a case involving money he was paid in error, according to AdvisorHub. The Financial Industry Regulatory Authority took the action against Bruce L. Davis of Sacramento, California. He was...
FINRA fines Wedbush Securities $850K over misleading customer statements
The Financial Industry Regulatory Authority announced a settlement with Wedbush Securities over charges of misleading account statements, Financial Advisor reported. In its letter of acceptance, waiver and consent, FINRA said that from 2013 to 2018, the Los...
