A state judge in California has granted a reprieve to two brokers who were on the verge of being suspended, according to AdvisorHub. Orange County Superior Court Judge David A. Hoffer issued a temporary restraining order that puts off any disciplinary action from the...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: November 2024
Arbitrators order Stifel Financial to pay $2.4 million over broker’s strategy
For the second time in the past month, arbitrators have ordered Stifel Financial to pay damages to an investor in cases that involved the strategy of one of its brokers. According to an AdvisorHub report, a Financial Industry Regulatory Authority panel ordered that...
CUNA Brokerage fined by FINRA for failing to preserve recommendation records
A penalty has been imposed against CUNA Brokerage Services for violations involving the preservation of records and information, reports ThinkAdvisor. The Financial Industry Regulatory Authority said the Iowa-based firm will pay a $30,000 fine to settle the case. In...
FINRA proposes fee increases to keep up with rising costs of regulation
The Financial Industry Regulatory Authority has filed a proposal with the Securities and Exchange Commission for a series of member fee increases beginning in 2025, according to AdvisorHub. FINRA estimates that total fees will increase at a compound annual growth rate...
Study finds national retirement plan could decrease wealth for many workers at retirement
New research from Morningstar examines the impact of The Retirement Savings for Americans Act (RSAA), according to Financial Advisor. The legislation, introduced in Congress in October 2023, would create a federal retirement plan that automatically enrolls workers...
