Broker Barred Over ‘Phantom’ Expense Claims, And Other Top Stories
1. Finra Bars Broker for Expensing ‘Phantom’ Client Events (Knicks, Kanye Concert, Steakhouses)
New York City broker gamed MetLife Securities’ “Co-Op Marketing Program” by altering personal American Express card transactions.
Another team leaves the ex-Protocol wirehouse for the Florida-based regional, carefully coached on how to move within the bounds of its members’ employment contracts.
Hires marketing executive from Betterment to pump up collection of cash from wealthy retail customers.
Brokers can send small or inactive clients with under $50,000 to the home office under the new “Connection” program.
5. SEC Bars and Fines Former Raymond James Manager in Ski Resort Case
Miami broker helped his father-in-law execute a $200 million fraud that earlier led Raymond James to more than $165 million of regulatory settlements.