Finra arbitrators denies J.P. Morgan Securities’ request for a permanent injunction against an Indianapolis broker who was temporarily handcuffed from contacting clients.
Finra suspends former Raymond James independent broker and fines him, highlighting UIT sales issues that led the Florida firm to a $15 million settlement with the SEC.
Arbitrators grant expungement of unsuitability claim that they found “devoid of any facts,” “meritless” and of “unwarranted harm to the financial advisor.”
Broker who worked at a Chase Bank branch in Indianapolis must stop soliciting former clients from his new base at an Indianapolis RayJay office, federal judge rules.
Firms settle charges from the Financial Industry Regulatory Authority that they sold more expensive classes of education savings plan investments when others were available.
Firm must pay 27 customers but a Louisiana branch manager can expunge failure-to-supervise claims because he had “insufficient” tools for monitoring “excessive levels of concentration,” arbitrators say.
RayJay added a net 107 advisors last quarter to bring its brokerage force up 4% to 8,011 from a year earlier, while Ameriprise had a net decline of 21 brokers in the quarter, ending with a flat year-over-year headcount of 9,930.
Former Chase Private Client broker in Indiana allegedly moved $27 million in assets since leaving the bank last month.