Compliance

The scheme ensnared about 8,400 investors, the regulator says.

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

To get in on hot IPOs, a client delivered cash payments to the broker at bars and restaurants, the regulator alleges.

The need to eliminate complexity, boost transparency and create efficiencies is stronger than ever.

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.

The regulator charged the firm and its owner with fraud in a case centered on commissions and 12b-1 fees.

"Sunlight is the best disinfectant," investor advocate says of regulator's move to keep disciplinary problems in public view.