A new report shows a decline in revenue for the Financial Industry Regulatory Authority last year, according to AdvisorHub. FINRA’s annual report, published last week, showed the authority had a net loss of $218.1 million in 2022, mainly as a result of operating and...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: July 2023
SEC obtains injunction, asset freeze in pre-IPO stock fraud case
The Securities and Exchange Commission announced that it has obtained emergency relief to halt a stock fraud scheme by an unregistered broker-dealer. The SEC took the action against New York City-based Legend Venture Partners LLC, accusing the firm of orchestrating a...
SEC report cites prevalence of mandatory arbitration clauses in RIA agreements
A report to Congress by the Securities and Exchange Commission found that the majority of registered investment advisors require that disputes go to mandatory arbitration, AdvisorHub reports. The SEC’s study, delivered to the House Committee on Appropriations,...
FINRA official stresses importance of appointing a trusted contact
An executive with the Financial Industry Regulatory Authority stressed the importance of customers appointing a trusted contact for their investment accounts, according to ThinkAdvisor. FINRA’s vice president and associate general counsel Jim Wrona discussed the topic...
FINRA continues to increase number of on-site exams of firms
Officials with the Financial Industry Regulatory Authority discussed their evolving approach to on-site examinations recently, ThnkAdvisor reports. FINRA's Examination team examines every member firm on a regular basis to ensure firms remain in compliance with FINRA...
