FINRA

The arbitrators based their ruling “on the defamatory nature of the information.”

The SEC examined approximately 2,180 RIAs in 2019.

Lack of oversight and potentially risky procedures are — or should be — in the fine print of these wildly popular tools.

SEC-mandated disclosures for dual registrants could put clients off brokerage options, some suggest.

“This didn’t seem like a very fair process,” says the ex-advisor, who was ordered to pay the firm $206,000 for breach of promissory note.

The firm’s supervisory systems did not identify brokers who recommended clients engage in potentially unsuitable early rollovers of UITs, the regulator said.

Supervisory failures at LPL Financial, J.P. Morgan Securities, Morgan Stanley, Merrill Lynch and Citigroup prevented assets from moving to beneficiaries on time.

The commission-free brokerage did not reasonably review “hundreds of thousands of orders each month,” according to the regulator.

"I don't mean to ruin your holidays, but ... " Regulators and industry insiders caution against delaying compliance efforts as the June deadline approaches.

The advisors had won $1.6 million in back pay and fees in a case decided last month.