A former broker for Credit Suisse has won compensatory damages from two units of Wells Fargo in a dispute over deferred compensation, according to ThinkAdvisor. Anthony Aris Dertouzos had failed a claim against Wells Fargo Advisors and Wells Fargo Clearing Services in...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: May 2022
Companies terminating reps in move to avoid FINRA’s ‘Restricted Firm’ designation
Broker-dealers are taking steps to avoid the designation of “Restricted Firm” that could be imposed by a new Financial Industry Regulatory Authority rule, according to Financial Advisor. Under Rule 4111, which took effect Jan. 1, firms with a significant history of...
SEC charges firm with deceiving investors in stock fraud scheme
The Securities and Exchange Commission has charged a Florida-based firm with fraud for securities violations that deceived thousands of investors, the commission announced in a news release. The SEC filed a complaint in federal district court in Manhattan against...
FINRA approves revised proposal for roster of expungement arbitrators
The Board of Governors for the Financial Industry Regulatory Authority has approved revisions to its plan to reform the process for brokers expungement requests, according to ThinkAdvisor. The goal of FINRA’s plan is to create a special roster of arbitrators with...
SEC sanctions First Republic Bank over conflict in revenue sharing arrangement
The Securities and Exchange Commission said it has ordered First Republic Investment Management (FRIM) to pay a penalty of over $1.8 million due to alleged violations regarding a revenue sharing agreement, AdvisorHub reports. According to the SEC’s administrative...
