FINRA

How advisors deal with grievances and arbitration can make or break a career.

The firm displayed inaccurate ratings for more than 1,800 equity securities to its brokers, supervisors and retail customers, FINRA alleged.

The rep used his own money to pay the customer the interest she expected on a brokered certificate of deposit.

As a result of the violations, the firm created deficits in foreign and domestic securities valued at hundreds of millions of dollars, FINRA alleged.

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Among FINRA’s findings, it said the broker-dealer “unreasonably excluded” some employees who were handling customer accounts from email scrutiny.

The alleged failures stretched over a two year period, according to the regulator.

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The broker engaged the client in 11 private securities transactions involving private equity and debt securities in companies spanning a wide variety of industries, FINRA alleged.

The duo recommended an investment strategy that was overly concentrated in four speculative equity securities to more than 50 customers, FINRA alleged.

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The bank's retail brokerage business sold customers shares in mutual funds with front- or back-end sales charges when they were eligible for Class A shares that waived the upfront sales load, FINRA claimed.

The violations, which occurred from January 2009 through May 2017, affected approximately 95% of the firm's non-registered employees, according to FINRA.

The rep used an unauthorized ATM card he secretly created to swipe $120 from a customer's bank account, FINRA claimed.

The former United Planners' advisor conducted the sales without his firm's permission over nearly a decade, according to the regulator.

The wire fraud charge came nearly four years after the CFP Board revoked his certification.

The firm previously accused its former employee of using company stationery to continue to pass herself off as an Ameriprise advisor.