The latest regulatory, disciplinary and criminal actions.
James Polese and partner Cornelius Peterson stole $500,000 from clients for personal expenses and to fund a “wind farm” investment, prosecutors said.
Unlicensed individuals at the manager’s branch operated on unauthorized scripts and misled prospects about the broker-dealer.
Broker is latest to give up on the product after being fined and suspended for promoting short-term trading of the products.
California broker put a rival broker’s name and number on internet gay solicitation ads.
Former wirehouse broker accepts ban from industry rather than cooperation in investigation of his alleged outside business activities.
Panel denies fired 30-year industry veteran’s counter-claim for $20 million on grounds of discrimination.
Former Minnesota advisor loses counterclaim of defamation and last month left his new job as a registered investment adviser.
Finra attributes problems in part to firm’s decision to subordinate its retail monitoring system to Bank of America’s broader system.
Marc Broidy, sentenced for stealing $1.5 million, has also been ordered to disgorge a total of $3.4 million.
Finra says broker who has worked for six independent firms in his 33-year career co-invested with some customers without firm’s knowledge and denied doing so to investigators.