Enforcement

Morgan Stanley is under investigation by FINRA over how it vetted clients for money-laundering risks, adding to existing federal scrutiny of its wealth-management and trading units.

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

FINRA must let the SEC weigh in before it can cast out one of its members, a three-judge panel of the U.S. Court of Appeals for the District of Columbia found.

Fines levied by the Wall Street regulator have dwindled in recent years.

FINRA found that Michael Mancinelli improperly exercised discretion and caused his firm to have inaccurate books and records.

Wall Street’s self-regulator says recent data show that only mid-sized and smaller firms would have fit its new “red flag” criteria.

Federal prosecutors alleged James K. Couture had reached an agreement to sell a home in Cape Cod before the proceeds could go toward restitution.

Adjustments to the organization’s sanction guidelines and procedural rules are the latest step in its ongoing enforcement overhaul.

The trade group’s continued support comes with caveats as advocates for a stronger rule express hope that the Biden administration will change the 2019 regulation.

The nonprofit is serious about weeding out bad actors among CFP holders, writes Tom Sporkin, the official hired to run its compliance efforts.

Nearly 100 clients Mata allegedly defrauded for $14.5 million have received paltry restitution after exhausting every possible method.

The wirehouse is the latest firm to have its financial advisors called out publicly by the regulator for disregarding warnings about holding the ETNs for a long time.

Here's what you missed this week in wealth management.

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

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.

The nonprofit's response to the scathing criticism of the Independent Task Force on Enforcement was to protect its own executives at the expense of benefiting investors, writes Allan Roth.

The company is making many employees sift through years of text messages on personal devices and set aside any related to work to ensure U.S. rules on keeping copies of business communications are met even after many months of remote work, according to people with knowledge of the situation.

The case against Centaurus Financial comes after the industry and consumer advocates decried the previous administration’s approach for different reasons.