The Financial Industry Regulatory Authority has proposed a new amendment to its plan regarding remote work locations, Financial Planning reports. FINRA has proposed changes to Rule 3110 to allow member firms to conduct remote inspections of branch offices and...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: August 2023
SEC issues risk alert on brokers’ compliance with anti-money laundering
The Securities and Exchange has issued a risk alert regarding the compliance of broker-dealers with anti-money laundering (AML) programs, Wealth Management reports. The SEC’s Division of Examinations conducts examinations of firms over their AML and countering the...
The SEC awards 7 whistleblowers over $104 million for assistance in investigations
Seven whistleblowers were awarded a total of $104 million for assisting the Securities and Exchange Commission with its investigations, the SEC announced. The commission said the seven individuals receiving the awards provided information and assistance that led to a...
FINRA remote supervision plan draws concerns of attorneys, state regulators
The Financial Industry Regulatory Authority’s plan to allow remote supervision of registered representatives is continuing to draw some opposition, reports InvestmentNews. A public comment period has been underway on FINRA’s proposal that has been sent to the...
Lawsuit accuses Wells Fargo of opening unauthorized bank accounts
A class action lawsuit has been filed against Wells Fargo claiming that the bank fraudulently opened unauthorized checking accounts for at least 40 people, reports ThinkAdvisor. The lawsuit was filed in U.S. District Court for the Northern District of California in...