The Financial Industry Regulatory Authority announced that it has expelled Monmouth Capital Management from the financial industry. In a news release, FINRA said it took the action against the firm for churning and excessive trading in customer accounts of violation...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: July 2023
FINRA fines Hightower Securities for violations involving sales of alternative funds
Chicago-based Hightower Securities has agreed to a settlement over allegations it violated industry rules in the sales of two alternative funds between 2016 and 2018, AdvisorHub reports. The Financial Industry Regulatory Authority released a letter of acceptance,...
Report finds sharp increase in investment fraud cases in 2022
A new study examines the rise in investment fraud cases and the methods being used to deceive victims, InvestmentNews reports. The Federal Trade Commission released data showing that investment schemes cost Americans $3.82 billion in 2022, a sharp increase of 128%...
Appeals court rules in favor of firm challenging FINRA’s constitutionality
A brokerage firm has won the latest round in its legal battle challenging the constitutionality of the Financial Industry Regulatory Authority, reports AdvisorHub. The U.S. Court of Appeals for the District of Columbia ruled 2-1 in favor of Scottsdale Capital Advisors...
Organization of financial advisors updates standards for membership
The National Association of Personal Financial Advisors has revised its criteria for membership, InvestmentNews reports. NAPFA has advocated for fee-only compensation for financial advisors, and until now did not allow membership for advisors who receive commissions....
