News & Updates

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Merrill Lynch and Bank of America Fined $3 Million for Failing to Monito...

Merrill Lynch and its parent company, Bank of America, have agreed to pay a $3 million fine and accepted censure from FINRA for their failure to...

Understanding the Role of Recruiting Loans in Wealth Management Growth

Recruiting loan balances can offer insight into a wealth management firm's growth strategy, but they do not tell the whole story. Industry compe...

Former Raymond James Advisor Fined and Suspended for Undisclosed Outside...

Andrew R. Hutcheson, a former advisor with Raymond James' Alex Brown division in Los Angeles, has agreed to a $5,000 fine and a 30-day suspensio...

LPL Financial Faces Potential $50 Million SEC Fine for Recordkeeping Fai...

LPL Financial faces a fine of up to $50 million from the Securities and Exchange Commission (SEC) for non-compliance with records preservation r...

FINRA Launches Pilot Program for Remote Branch Inspections

According to InvestmentNews, a total of 741 FINRA member firms have joined a three-year pilot program assessing remote inspections of b...

New Treasury Rules Impose AML/CFT Requirements on Investment Advisers

The U.S. Treasury Department has finalized anti-money-laundering (AML) regulations targeting investment advisers registered with the U.S. Securi...

FINRA Bars Advisor for Forging Signatures and Violating Regulation Best ...

The Financial Industry Regulatory Authority (FINRA) has barred Christopher Reynolds for forging customer signatures on annuity documents and vio...

TD Bank Sets Aside $2.6 Billion for Expected Fines Amid Money-Laundering...

Toronto-Dominion Bank (TD Bank) has allocated $2.6 billion to cover anticipated fines related to failures in its anti-money laundering (AML) con...

Veteran Advisor Exits Industry Amid FINRA Probe into UIT Trading Practices

Gregory Alan Corrie, a 30-year industry veteran based in Boise, Idaho, has opted to leave the securities industry rather than cooperate with a F...

SEC Freezes Assets of Wells Real Estate Investment and Leaders Amid $56 ...

The Securities and Exchange Commission (SEC) has taken emergency action against Wells Real Estate Investment, LLC, its CEO Janalie C. Bingham, a...

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SEC Charges Two South Florida Men for Defrauding Venezuelan-American Inv...

The Securities and Exchange Commission (SEC) has filed a complaint against two South Florida men, Francisco Javier Malave Hernandez and Ricardo ...

California Advisor Suspended and Fined for Churning Client Accounts

A veteran advisor in Santa Maria, California, Stewart "Paxton" Ginn, has been suspended for 18 months and fined $50,000 by FINRA, according to <...

Bank of America and Merrill Lynch Settle with FINRA for Supervisory Fail...

Bank of America and its subsidiary, Merrill Lynch, have agreed to a $3 million fine and censure as part of a settlement with FINRA over long-ter...

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