A former broker for Edward Jones who allegedly refused to return over $893,000 he received from a client has been barred by the Financial Industry Regulatory Authority, reports AdvisorHub. FINRA administered the sanction against John Winslow, who spent eight years...
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Broker Misconduct
Former Cetera broker barred by FINRA over use of clients’ funds
A former broker for Cetera Advisors has been barred by the Financial Industry Regulatory Authority for allegedly using money from her clients for the investments of a family member, InvestmentNews reports. The action was taken against Marianne O’Shee Smith, who was...
Study finds increase in advisor misconduct at RIAs following private equity buyouts
A new study has found there is an increase in advisor misconduct when private equity firms buy out registered investment advisor firms, according to ThinkAdvisor. The study, published last month, was conducted by a team of researchers at the University of Oregon. It...
Man pleads guilty to posing as broker, defrauding investors out of millions
A Michigan man has pleaded guilty to pretending to be a broker and defrauding investors out of millions of dollars, reports ThnkAdvisor. 37-year-old Joshua Louis Rupp pleaded guilty to securities fraud last week in federal court in Michigan. Authorities said that...
Broker fined, suspended by FINRA over allegations of excessive trading
A broker was fined and suspended by the Financial Industry Regulatory Authority over allegations of excessive and unsuitable trading, according to Financial Advisor IQ. FINRA took the enforcement action against Sebastian Wyczawski for infractions while he was...