FINRA

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.

Alan J. Foxman looks into his crystal ball and predicts authorities will focus on these key areas.

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.

Regulatory decisions, whistle-blower cases and acquisitions will define wealth management in 2018, and the people here will be the decision-makers who remake the industry.

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.

Digital advice is vulnerable to bait-and-switch and choice manipulation schemes.