The Financial Industry Regulatory Authority has barred a former representative for UBS Financial Services who was accused of defrauding his clients, reports AdvisorHub. FINRA took the action against Robert Earl Turner Jr. of Waco, Texas after he was sued by UBS for...
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Month: February 2023
SEC charges investment advisor with defrauding clients in cherry-picking scheme
A Nevada-based investment advisor representative and his firm have been charged with defrauding their clients through a cherry-picking scheme, Financial Advisor reports. The Securities and Exchange Commission filed the charges against Steve Susoeff, LLC (dba Meritage...
Former Wells Fargo executive files defamation suit against firm
Wells Fargo has been hit with a defamation lawsuit by one of its former regional presidents, ThinkAdvisor reports. Shelley Freeman filed the suit in federal court for the Northern District of California, claiming she was “maliciously defamed” worldwide by the bank....
2 brokers suspended, fined by FINRA over Reg BI violations
Two registered representatives have been fined and suspended by the Financial Industry Regulatory Authority for violating the Securities and Exchange Commission’s Regulation Best Interest (Reg BI) rule, reports ThinkAdvisor. FINRA announced the actions against Todd...
Former energy company executive sentenced to prison for investment fraud
The U.S. Department of Justice announced that a California man has been sentenced to five years in prison for investment fraud, according to InsuranceNewsNet. Prosecutors said 58-year-old Joey Stanton Dodson orchestrated a scheme from 2012 to 2015 in which he...