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The Financial Industry Regulatory Authority has proposed publicly identifying broker-dealers designated as “restricted firms” on their BrokerCheck reports, according to Financial Advisor. FINRA has submitted its proposal to the Securities and Exchange Commission for...
Bank of America Corp. is facing a financial penalty as part of an investigation by regulators into the unauthorized use of personal devices, reports AdvisorHub. The Securities and Exchange Commission has been conducting a probe of various financial institutions...
UBS Financial Services has agreed to pay about $25 million to settle charges stemming from a complex options strategy that has been the subject of numerous disputes, the Securities and Exchange Commission has announced. The SEC filed fraud charges against the company...
The Financial Industry Regulatory Authority’s list of top arbitration categories now includes Regulation Best Interest (Reg B1) claims for the first time, according to a report by Financial Advisor. The Securities and Exchange Commission adopted Reg B1 establishing a...
A group of 24 Republican attorneys general have joined together in opposition to the Securities and Exchange Commission’s proposed climate change disclosure rules, Financial Advisor reports. The attorneys general submitted comments to the SEC calling the rules...
\Two whistleblowers have been awarded a total of over $6 million for the assistance they provided to the Securities and Exchange Commission in separate enforcement actions, the SEC announced last week. One award, of more than $3 million, went to an individual who...
The Financial Industry Regulatory Authority announced that it has barred two individuals from the securities industry for cheating during their online qualification examinations, InvestmentNews reports. The bars imposed on Brandon Autiero of New Jersey and Harris...
Federal regulators have fined Bank of America Corp. over deficiencies in the bank’s administration of public benefit payments during the COVID-19 pandemic, according to AdvisorHub. The bank was hired by 12 states to deliver unemployment and other benefits to consumers...
The Justice Department announced that a former licensed stockbroker from California has pleaded guilty to defrauding over 100 of his clients, reports ThinkAdvisor. 61-year-old Robert Louis Cirillo of Chino Hills entered the plea last month in U.S. District Court....
In an effort to modernize and enhance the flow of information, the Securities and Exchange Commission announced that it has adopted new rules to expand its electronic filing requirements. The SEC said in a news release that certain documents filed by investment...
