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The fees affected hundreds of thousands of customers and the total cost could climb to more than $180 million, according to a report in The Wall Street Journal.
July 20
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The broker-dealer failed to supervise Infinex registered reps selling annuities and other products to seniors and other investors at local banks.
July 19
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The rep mismarked 105 trades in five PNC customer accounts as unsolicited when in fact they were solicited, FINRA claimed.
July 17
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The industry is imagining more vibrant, more agile and more inclusive processes that deliver results, says Confluence CEO Mark Evans.
July 16
Confluence -
Collusion and corruption allegedly prevented Wells Fargo whistleblowers, and a former JPMorgan advisor, from obtaining justice.
July 12
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The rep cut and pasted or traced the signatures of 16 customers on more than 70 life insurance and annuity replacement forms and other documents.
July 11
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The regulator barred an ex-Wells Fargo advisor for fooling the bank into reimbursing him for $3,400 after he falsely claimed that he was the victim of fraud.
July 10
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The rep agreed to a six-month suspension and a $5,000 fine to settle claims that he wrote and deposited checks without sufficient funds to cover them.
July 6
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The funds, which account for roughly 1% of the $3.5 trillion of assets in ETPs, “pose real risks to American families.”
June 29
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“Our whistle-blower program is a critical component in our investor-protection toolbox,” SEC Chairman Jay Clayton says.
June 29
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The former Oppenheimer client was allowed to invest in a new fund started by Carter Worth, a well-respected technical analyst who the client believed “walked on water,” his lawyer claimed.
June 28 -
The framework targets so-called plain vanilla funds, yet leaves in place a more laborious path for firms wishing to list complex products.
June 28
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Six fiduciary groups call on advisors press SEC to clarify the differences between advisory and brokerage business models.
June 28
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Former San Diego Chargers guard Kris Dielman says the independent broker dealer failed to supervise his former advisor.
June 27
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Issuers want the regulator to go further and make it easier for managers to choose the securities they add or subtract when they issue and redeem shares.
June 21
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The firm agreed to settle and admitted wrongdoing, according to the regulator.
June 20
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Disparate voices in the fiduciary debate agree that Form CRS might be too dense and complex to achieve meaningful disclosure.
June 19
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The advisor told the client that she could pre-pay her advisory account fees at a discount by writing him a $7,400 check, FINRA claimed.
June 14
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Keeping brokers and advisors on a separate regulatory track could preserve the “competitive advantage” that RIAs enjoy, says Schwab exec.
June 13
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Critics say the SEC isn’t living up to promises made when Jay Clayton became chairman.
June 7
