Scott W. Reed of Scottsdale, Arizona, allegedly made nearly $200,000 for soliciting and facilitating at least $3.5 million in unapproved investments in a software company.
Former Cambridge rep James A. Schumaker was accused of helping his father, barred from the industry in 2014, come into the office and meet with clients.
Broker who was discharged after 23 years for failing to share account credits with retired advisor gets lifetime bar from regulator.
The regulator fined and suspended a Lincoln Financial Advisors broker and a former International Assets Advisory broker who started his own registered investment advisory firm for alleged violations of client privacy rules.
Ex-broker Manish H. Shah accepted a 20-month suspension from the brokerage industry and a $15,000 fine for borrowing money from customers to buy another broker’s practice but using the money for personal expenses.
A sole public arbitrator granted the former advisor’s request for expungement and said Merrill defamed the broker by not looking into the allegations behind a customer complaint before issuing the termination.
Former Boston broker agreed to the industry bar rather than cooperate with Finra’s investigation into his termination from Merrill, according to a letter of settlement.
Brokers who brought a ‘constructive discharge’ claim against the firm in 2017 have agreed to repay the balance on six promissory notes, according to an arbitration award.