FINRA

“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.

A former rep has drawn at least 30 claims after pleading guilty to fraud, while clients of another ex-LPL advisor are seeking damages five years after his initial arrest.

Not a great idea, says Alan Foxman, but if you’re determined, there may be a way.

Bruce K. Lee left the brokerage world where cheating on continuing education requirements can be a "career killer."

The authors of a PIABA Foundation study describe a system in which it’s ‘almost impossible’ to put the public’s interests first.