FINRA

The broker-dealer alleged that a FINRA arbitration panelist who helped hand down the landmark penalty should have recused herself after reaching a similar conclusion in a case involving the same embattled broker.

Industry groups argue a new rule under consideration would give brokerage firms new oversight responsibilities over unaffiliated RIAs — a contention FINRA denies.

Rulings from the Financial Industry Regulatory Authority included a $360,000-plus payout from JPMorgan, scrutiny of B. Riley operations and more in April.

Regulators say they are seeking fairness, noting that firms that reached deals with the SEC before the start of the year are under fewer regulatory mandates.

The firm characterizes the cause examination, a procedure that typically originates from a customer complaint, as a routine matter.

A judge found that the alleged victims of a scam run by a now-disgraced representative of Oppenheimer furnished no evidence of having direct ties to the firm.

Evan Becht told a FINRA arbitrator that he has not been able to find another job since JPMorgan's reasons for terminating him became listed on his BrokerCheck page.

Michael Bonevento and his team left Ameriprise in 2019 to join LPL Financial. He says too much time has elapsed for him to now be accused of misappropriating client information.

UBS contends the nearly $70 million in punitive damages it has been ordered to pay a wealthy Iowa family are not justified under federal or state law.

NewEdge Securities was also ordered to pay disgorgement of $750,746 plus interest.

The public has until May 13 to comment on a proposal that would prevent brokers from having to list side hustles like online antiques stores or after-hours bartending gigs.

In an annual release, law firm Eversheds Sutherland finds the broker-dealer self-regulator's total number of enforcement actions increased last year, even as its fine haul fell.

Among other things, regulators accused Robinhood of failing to supervise social media influencers and said some of its social media messages were misleading to investors.

The dispute shows Edward Jones has become emboldened in taking legal actions against advisors perceived to have inflicted harm on its business interests by leaving for another firm, one industry recruiter said.

The popular online broker-dealer has caught regulators' eyes over its moves into market news, trading in sports games and other events, and a new premium credit card.

Mark Sam Kolta was at National Securities for nearly four years before its sale to B. Riley. While there, he managed to rack up more than two dozen customer complaints that were eventually settled for millions.

Apex Clearing, a subsidiary of Apex Fintech Solutions, stood accused of misleading investors into believing they would receive compensation for lending out their brokerage holdings.

The industry self-regulator is also concerned about third-party vendors, anti-money-laundering policies and whether certain annuity products are in clients' best interests.

Lawsuits before the Supreme Court and in lower federal courts across the country could further reduce enforcement powers at the IRS and the SEC this year.

Robert Daly was part of a star team that left Morgan Stanley in 2023 to join First Republic and has since been barred from the industry.