A former broker for UBS was fined and suspended after he allegedly carried out unauthorized trades in a deceased client's brokerage account, AdvisorHub reports. The Financial Industry Regulatory Authority imposed a $5,000 fine on Newport Beach, California-based...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: August 2024
Carl Icahn and firm to pay $2M for failing to disclose pledges of company’s securities as collateral
The Securities and Exchange Commission announced charges and financial penalties against Carl C. Icahn and his publicly traded company, Icahn Enterprises L.P. (IEP), InvestmentNews reports. The SEC said it took the action against Icahn for failing to disclose...
Former broker barred by FINRA for not providing information for investigation
The Financial Industry Regulatory Authority has barred a former broker who it says failed to provide information for one of its investigations, according to ThinkAdvisor. FINRA took the action against Michael Charles Grande, who was with Newbridge Securities Corp. in...
Former Pruco broker barred for forging customers signatures on annuities documents
A former broker for Pruco Securities has been barred by the Financial Industry Regulatory Authority, Investment News reports. In a letter of acceptance, waiver and consent, FINRA said the broker, Christopher Reynolds, had forged customers’ signatures on annuities...
SEC fines 26 firms a combined $390 million over recordkeeping failures
The Securities and Exchange Commission has taken the latest step in its crackdown on off-channel communications in the financial industry, AdvisorHub reports. The SEC announced charges against 26 broker-dealers, investment advisers, and dually-registered...
