A former Illinois investment professional is facing charges he defrauded investors out of about $800,000 and diverted the funds for his personal use, reports FinancialAdvisor. 61-year-old Ronald T. Molo was charged last week in a criminal indictment announced by the...
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Month: November 2021
CFP Board announces public sanctions against 22 financial advisors for violations
The Certified Financial Planner Board of Standards said it has imposed public sanctions against 22 current or former financial planning professionals over violations of ethical standards. The sanctions were announced Monday in a news release by the CFP Board. The...
SEC says enforcement actions were up by 7% in fiscal year 2021
The Securities and Exchange Commission announced a 7 percent increase in the number of enforcement actions it brought during fiscal year 2021, reports Financial Advisor. In its annual report released last week, the SEC’s Division of Enforcement said it filed 697 total...
FINRA arbitrator rules client complaint can be expunged from advisor’s record
A Financial Industry Regulatory Authority arbitrator has ruled that a client’s complaint can be expunged from the record of a Nebraska financial advisor, AdvisorHub reports. The FINRA arbitrator adjudicated the case involving Ronald L. Carson, owner of Carson Wealth...
Man pleads guilty to posing as broker, defrauding investors out of millions
A Michigan man has pleaded guilty to pretending to be a broker and defrauding investors out of millions of dollars, reports ThnkAdvisor. 37-year-old Joshua Louis Rupp pleaded guilty to securities fraud last week in federal court in Michigan. Authorities said that...
