A new report warns of an increasing number of attempts to gain access to personal financial accounts through fraud, Financial Advisor reports. LIMRA, a global research, consulting and professional development organization, examined fraud attempts perpetrated by people...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: April 2022
National Securities Corp. to pay $663,000 over allegations of deceiving investors
A Florida-based firm has been penalized by the Financial Industry Regulatory Authority following allegations it deceived investors, InvestmentNews reports. National Securities Corp. reached a settlement with FINRA to pay a $300,000 fine along with $363,447.67 in...
Former Cetera broker barred by FINRA over use of clients’ funds
A former broker for Cetera Advisors has been barred by the Financial Industry Regulatory Authority for allegedly using money from her clients for the investments of a family member, InvestmentNews reports. The action was taken against Marianne O’Shee Smith, who was...
FINRA suspends former Wells Fargo advisor accused of trading in account of deceased client
The Financial Industry Regulatory Authority has suspended a former Wells Fargo advisor who allegedly traded in the account of a client who had passed away, according to Financial Advisor. FINRA took the action against Michael McDermott of Mobile, Alabama, who was...
SEC proposes new rules requiring certain market participants to register as “dealers”
The Securities and Exchange Commission has announced it is proposing two new rules requiring more market participants to register as a “dealer” or “government securities dealer”. In a news release last week, the commission said the rules will further clarify the...