Two broker-dealers have been fined by the Financial Industry Regulatory Authority for negligent actions involving GPB Capital, according to Investment News. The enforcement actions were taken against Dempsey Lord Smith of Georgia and BD4RIA Inc. of Texas, who both...
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Month: March 2022
Jury rules in favor of SEC in complaint that firm breached fiduciary duties
A jury in Pennsylvania has ruled in favor of the Securities and Exchange Commission following its complaint against investment advisory firm Ambassador Advisors, according to a report by Wealth Management. The verdict came last week after an eight-day trial in United...
FINRA seeks to accelerate arbitration proceedings for those seriously ill or over age 75
The Financial Industry Regulatory Authority is proposing a rule modification that would accelerate arbitration proceedings in cases where the parties are over 75 years old or are seriously ill. The authority said it wants to ensure that these parties can participate...
FINRA board approves rule proposals involving remote office inspections
The Financial Industry Regulatory Authority board approved rule proposals at its recent board of governors meeting involving remote office inspections, InvestmentNews reports. The proposals, among several approved at the board meeting, will be now be submitted to the...
FINRA issues notice regarding liability for CCOs over failure to supervise
The Financial Industry Regulatory Authority issued a reminder to member firms last week that focused on the potential liability of their Chief Compliance Officers (CCOs) for failing to fulfill supervisory responsibilities. FINRA issued Regulatory Notice 22-10,...
