Arbitrators say racing champ who objected to paying fees on his large cash position was due an award for unsuitability and negligent supervision by independent brokerage firm.
Former J.P. Morgan broker and manager sold names and account values of some customers to another firm’s rep for $7,500.
Industry veteran ‘structured’ cash deposits and withdrawals of more than $60,000 in sub-$10,000 increments to avoid federal reporting requirements, Finra said.
Complaint from elderly customer about inconsistent statement values triggered investigation of clearing firm’s procedures, Finra said.
Washington State broker fired for interpreting a now-obsolete retirement account advice rule differently than her employer was defamed on regulatory records, panel rules.
New York broker fined $20,000 and suspended for six months by Finra resigned from Merrill three years ago following the firm’s $2.25 million settlement with hip hop star.
Arbitrator accepts independent broker’s argument that since he merely entered data from other brokers to create a financial plan for a complaining customer he never met, the complaint staining his record should be expunged.
Regulator fines and suspends a California broker, despite his success in expunging allegations of purloining client information when he left Merrill for Raymond James.
Regulator fines and suspends a novice broker who J.P. Morgan fired for moving customer money to higher-paying money market funds without authority and a senior former RayJay and UBS broker who took loans from a friend and customer without permission.