A broker was suspended by the Financial Industry Regulatory Authority over allegations of failing to disclose felony charges against him on a timely basis, ThinkAdvisor reports. John Matthew Underation consented to the penalty in signing FINRA’s letter of acceptance,...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: January 2023
FINRA orders former advisor to pay $1.66M to client for unsuitable investments
A panel of Financial Industry Regulatory Authority arbitrators issued an award to a retired New Jersey teacher who filed a claim against her former advisor over her investment losses, Financial Advisor reports. The FINRA panel ordered the former registered investment...
FINRA amends proposal for extending remote inspections beyond 2023
The Financial Industry Regulatory Authority has made modifications to its plan for extending remote inspections of branch offices beyond the end of 2023, according to AdvisorHub. Under FINRA Rule 3110, member firms are required to maintain a system of supervising the...
UBS reaches settlement with ex-brokers in dispute over firm transition
A settlement has been reached in a dispute between UBS Wealth Management USA and a group of brokers who left for another firm in October, AdvisorHub reports. A court document stated that a consent agreement was filed by UBS and the Indianapolis-based team that joined...
SEC awards $37 million to whistleblower for assistance in enforcement actions
A whistleblower was awarded $37 million recently by the Securities and Exchange Commission for the assistance they have provided in successful enforcement actions, the SEC announced. The commission detailed the eligibility for the award in a news release, stating that...
