Financial Industry Regulatory Authority arbitrators sided with a broker trying to clear his record following his former partner’s misconduct, according to AdvisorHub. The three-member FINRA panel authorized Patrick T. Stehl, a former broker for Merrill Lynch in...
SEC charges 16 defendants in international penny stock schemes
The Securities and Exchange Commission announced last week that 16 defendants have been charged with taking part in fraudulent penny stock schemes that spanned three continents. In a news release, the SEC detailed the allegations against 15 individuals and one company...
CFP Board announces increase in annual CFP certification fee
The Certified Financial Planner Board of Standards announced recently that it is raising its annual CFP certification fee by $100 to $455, reports ThinkAdvisor. The new fee takes effect for individuals who become certified beginning Oct. 1, 2022 and later, as well as...
Former UBS broker appeals judge’s decision denying whistleblower lawsuit
A former broker for UBS Wealth Management USA has filed an appeal after his whistleblower lawsuit against the firm was denied in federal court, according to AdvisorHub. The legal dispute between Craig Price and UBS began when Price claimed he was wrongfully terminated...
FINRA bars registered rep who failed to cooperate with investigation
A financial advisor who was recently discharged by his firm has now been barred by the Financial Industry Regulatory Authority, InvestmentNews reports. FINRA said it took the action against Philip Riposo of New Bedford, Massachusetts after he failed to cooperate with...
