Financial Industry Regulatory Authority arbitrators have ruled in favor of a Florida couple who claimed a firm misrepresented the benefits of their insurance and annuity products, reports Financial Advisor. A FINRA arbitration panel ordered Minnesota-based Woodbury...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: October 2022
SEC files charges in alleged scheme to fraudulently promote securities
Six individuals and two companies have been charged with being involved in a scheme to fraudulently promote securities offerings, the Securities and Exchange Commission announced. In a complaint filed in U.S. District Court in Los Angeles, Jonathan William Mikula was...
FINRA fines UBS $2.5 million over short selling rule violations
The Financial Industry Regulatory Authority announced a fine against UBS Securities LLC over violations involving so-called “naked” short selling. The firm was found to have violated Rule 204 of Regulation SHO (Reg SHO), and was fined $2.5 million. Without admitting...
Former Wells Fargo advisor agrees to guilty plea on identity theft charges
A former California financial advisor has agreed to plead guilty to an aggravated identity theft charge, according to a report by Financial Advisor. 32-year-old Tyler Rigsbee of Folsom signed a plea agreement with the U.S. Attorney’s Office for the Eastern District of...
FINRA’s National Adjudicatory Council revises sanction guidelines
The Financial Industry Regulatory Authority announced that its National Adjudicatory Council is revising its sanction guidelines to create new fine ranges for firms and individuals, Think Advisor reports. The guidelines set out the ranges of disciplinary sanctions...
