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...
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Month: April 2022
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...
FINRA notice reminds firms of obligations regarding alternative mutual funds
The Financial Industry Regulatory Authority has issued a notice reminding member firms of their obligations when it comes to alternative mutual funds, InvestmentNews reports. In Regulatory Notice 22-11, FINRA outlined its findings from recent examinations and...
FINRA releases guidance for new rule on Restricted Firms
The Financial Industry Regulatory Authority is providing member firms with guidance pertaining to its new rule regarding so-called ‘Restricted Firms’, ThinkAdvisor reports. Rule 4111, which took effect Jan. 1, categorizes restricted firms as those broker-dealers with...
Former UBS advisor pleads guilty to defrauding clients out of over $5.8 million
A former financial advisor for UBS Financial Services Inc. pleaded guilty last week to defrauding over $5.8 million from a client couple who invested funds with him, according to Financial Advisor. 57-year-old German Nino of Weston, Florida, entered the plea in U.S....
