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...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: October 2021
Proposal by FINRA would allow representatives to reregister with $100 fee
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...
Head of SEC enforcement calls for tougher penalties to deter broker misconduct
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...
FINRA fines Merrill Lynch $850K over alleged short sale violations
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,...
NASAA proposes new rule for sanctions over unpaid arbitration awards
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...