An arbitration panel for the Financial Industry Regulatory Authority has held a former broker for UBS Wealth Management USA liable for nearly $1.9 million, according to AdvisorHub. William J. Paynter, an Arizona broker who left the firm in April 2017, will be...
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Month: October 2021
New FINRA rules on Restricted Firms to take effect Jan. 1
The Financial Industry Regulatory Authority’s new rules regarding so-called Restricted Firms will become effective on January 1, 2022, FINRA announced. Restricted firms are those that have a significant history of misconduct. FINRA adopted New Rule 4111 that requires...
Stock webcast host charged with spreading false rumors about companies
The host of a stock trading webcast has been charged with spreading false rumors about public companies as part of an alleged “market manipulation scheme,” according to AdvisorNews. The Securities and Exchange Commission filed a complaint in United States District...
Former managing director charged with fraud and misconduct after bankrupting firm
The Securities and Exchange Commission said a former executive for an Atlanta-based broker-dealer has been charged with unauthorized trading that caused his firm to go bankrupt. Separate actions were filed by the SEC and the U.S. Attorney’s Office against Keith A....
Morgan broker ordered to pay ex-wife $2.6 million over improper trading
A panel of FINRA arbitrators ordered a former Florida broker to pay compensatory damages to his ex-wife over her claims of unsuitable trading in her accounts, Investment News reports. Under the decision Barry S. Snyder, a former J.P. Morgan Securities broker, will...