FINRA
PIABA Lashes Out at Finra Expungement Process
New “study” from plaintiffs’ attorneys says advisors and their firms game the arbitration process and corrupt the integrity of BrokerCheck to the detriment of investors by filing floods of rubber-stamped expungement requests.
Ex-LPL Broker Suspended over Undisclosed Nutritional Supplements Business
Lousianna broker violated industry and firm rules by not reporting his work for and ownership stake in a nutritional supplements company for four years, according to a letter of settlement.
Finra Suspends Ex-Ameriprise Broker for Restricted List Sales
Atlanta broker with over four decades of experience recommended investments from Ameriprise’s “prohibited” list, mismarking orders to circumvent blocks.
Stifel Clients Awarded $1.5 Million in Failure-to-Supervise Arbitration
Three clients claimed firm ignored red flags as broker concentrated them in biotech and healthcare stocks as the investments were shedding value.
UBS Manager’s Family Sues Over Deathbed Beneficiary Changes
Mother of deceased complex manager Erich Frank says she is entitled to arbitrate her claim even though Finra ruled that she was ineligible.
It’s Official: Brokers Have Tempered Their Wanderlust
Finra statistical report says just 1% of the securities industry’s 630,000 registered representatives changed firms in 2018 compared to 4% in the prior year.
UBS Fined for Repeated Client-Reporting Inaccuracies on Munis
Wirehouse inaccurately told customers that “substitute” interest payments on muni bonds were tax-exempt when the firm’s short positions made the payments taxable.
Finra Suspends Ex-Wells Fargo Broker over Personal Email Use
A broker with 37 years of industry experience has agreed to a two-month suspension and a $5,000 fine for using his personal email and computer to conduct client business.
