A law firm has released its annual analysis of enforcement actions taken by the Financial Industry Regulatory Authority during 2021, ThinkAdvisor reports. The firm Eversheds Sutherland found that fines imposed by FINRA rose 60% from 2020 from $57 million to $91...
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Month: March 2022
SEC proposes amendments enhancing cybersecurity disclosures for public companies
Public companies would be required to disclose more extensive information to investors about their cybersecurity practices and incident reporting under new amendments being proposed by the Securities and Exchange Commission. In a news release, the SEC provided details...
Wells Fargo ordered to pay $1.4 million to former advisor in defamation case
The Financial Industry Regulatory Authority ruled in favor of a former Wells Fargo advisor who filed a defamation claim against the firm, Financial Advisor reports. A panel of FINRA arbitrators ordered Wells Fargo to pay a total of $1.43 million in damages to Aaron T....
SEC charges Cambridge Investment Research with failing to disclose conflicts of interest
The Securities and Exchange Commission has charged Cambridge Investment Research (CIRA) with breaching its fiduciary duty, according to Investment News. The SEC filed a complaint in federal court against CIRA, a registered investment advisor based in Fairfield, Iowa...
Judge denies JP Morgan’s bid for temporary restraining order against former advisor
JPMorgan Chase & Co was dealt a legal setback in its dispute with a former advisor who moved to Wells Fargo Advisors, according to AdvisorHub. A federal judge in New Jersey denied JPMorgan’s bid for a temporary restraining order and injunctive relief against...