The Financial Industry Regulatory Authority issued an alert to member firms regarding fraudulent transfers of customer assets. In Regulatory Notice 22-21, FINRA noted a rising trend in such fraud occurring through the Automated Customer Account Transfer Service...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: April 2023
SEC approves FINRA proposal making it harder for brokers to expunge records
The Securities and Exchange Commission has approved a proposal that would make it more difficult for brokers to expunge customer disputes from their records, reports Investment News. The new rule proposed by the Financial Industry Regulatory Authority creates a...
Robinhood to pay up to $10.2 million to settle charges over outages
Robinhood Markets Inc. has agreed to a settlement with state securities regulators over outages that occurred on its platform, Financial Advisor reports. The California-based brokerage firm will pay penalties of up to $10.2 million following allegations brought by...
SEC charges Merrill Lynch with failing to disclose foreign exchange fees to clients
The Securities and Exchange Commission has charged Merrill Lynch Wealth Management with failing to disclose foreign exchange fees to its clients, reports AdvisorHub. The charges involve actions by the firm that took place between May 2016 and July 2020. According to...
SEC providing educational resources to investors during Financial Capability Month
The Securities and Exchange Commission is taking steps to educate and inform investors around the country during April as part of ‘National Financial Capability Month’. The SEC’s Office of Investor Education and Advocacy (OIEA) announced that its theme for the month...
