Compliance

FINRA arbitrators decided not to hold the major custodian liable for transactions prior to 2008, an attorney for the clients says.

The firms agreed to censures, the settlement payments and to cease-and-desist orders tied to their alleged misconduct.

Sanctuary also failed to review outside business activities of certain representatives and did not terminate a securities offering that failed to meet the minimum contingency requirement, FINRA says.

Former clients of Isaiah L. Goodman shared the financial losses and other harmful impact of the $2.3-million scheme.

The regulator’s annual industry snapshot and financial report offer a nuanced picture of wealth management’s most significant dividing line.

Robinhood revealed several new inquiries from state and federal watchdogs as it pushes ahead to sell shares in one of the year’s most anticipated IPOs.

The SEC alleged the company did not disclose its conflicts of interests related to mutual fund share classes, cash sweep arrangements, and no-transaction fee revenues, according to a recent SEC filing.

During his tenure as New Jersey’s top lawyer, the state proposed tougher rules for investment advisors and joined other states in suing financial firms.

The Advisor Group IBD missed 55 alerts suggesting suspicious disbursements by clients of Hector May, according to the SEC.

Thousands of clients paid sales charges that they wouldn’t have incurred had they held the pricey alternative products until maturity, according to FINRA.