Fidelity Brokerage Services has been hit with a fine for its lapses in supervision that enabled an employee's misconduct, ThinkAdvisor reports. The Financial Industry Regulatory Authority fined Fidelity $600,000 in connection with an employee who converted $750,000...
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FINRA Compliance
FINRA arbitrators deny JP Morgan’s $39.7 million claim against former advisor
J.P. Morgan Securities' request for $39.8 million in damages against one of its former advisors was denied by a Financial Industry Regulatory Authority arbitration panel, ThinkAdvisor reports. In its arbitration filing, J.P. Morgan alleged that ex-advisor Edward L....
FINRA orders 3 firms to pay over $8.2 million in restitution for improper mutual fund sales charges
Customers of three firms who were improperly charged for mutual fund sales will be receiving restitution for the money they are entitled to, AdvisorHub reports. The Financial Industry Regulatory Authority announced that it has ordered the firms,, Edward Jones, Osaic...
Number of brokers seeking expungement drops sharply after FINRA reforms
Expungement requests by brokers have dropped sharply after the Financial Industry Regulatory Authority adopted reforms in the process, according to AdvisorHub. The new rules, which were approved by the SEC, were aimed at making it more difficult for brokers to expunge...
FINRA arbitrators award $4.8 million to Baird in raiding claim against Raymond James
Raymond James and several of its financial advisors were ordered to pay $4.8 million over a raiding claim brought by rival Baird, according to ThinkAdvisor. A panel of Financial Industry Regulatory Authority arbitrators issued the award in the matter stemming from...
