The Financial Industry Regulatory Authority has penalized MML Investors Services for delays in updating the records of its registered representatives, Financial Advisor reports. In a letter of acceptance, waiver and consent with FINRA, MML did not admit or deny the...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: May 2023
CFP Board adopts revisions to its procedural rules
The Certified Financial Planner Board of Standards announced that it has adopted changes to the Procedural Rules by which it upholds its standards for CFP® professionals. The rules outline the processes for investigating alleged misconduct, enforcing the board’s Code...
SEC charges 10 microcap companies with securities-related violations
The Securities and Exchange Commission announced that 10 microcap companies have been charged with violations involving securities transactions. The SEC found that between December 2019 and May 2022, the companies all obtained qualification from the commission to...
FINRA developing new proposals regarding remote work rules
New plans are being developed by the Financial Industry Regulatory Authority with regards to its remote work rules, ThinkAdvisor reports. Under FINRA Rule 3110, member firms are required to maintain a system of supervising the activities of their personnel to ensure...
Wells Fargo agrees to pay $1 billion to settle class-action lawsuit
A settlement has been reached in a class-action lawsuit brought by shareholders against Wells Fargo & Co., reports Advisor Hub. Wells Fargo agreed to pay $1 billion to compensate investors who said the company misled them about the progress it was making in...