AdvisorHub follows up on the cases of Kathy Tarr, who accumulated 42 customer complaints in two years, and ex-Morgan Stanley veteran Bryan Yeager who was dismissed at the end of March for formerly unexplained reasons.
Customer who won settlement over allegedly unsuitable private REIT investments persisted in opposing Royal Alliance’s bid to expunge case from its former broker’s records.
The self-regulator could step in if the SEC fails to mandate a stronger customer-care rule for brokers, Robert W. Cook said.
Former broker who kited checks and lost battle to keep $900K hiring bonus gets three-month time-out from industry regulator.
Accuses Oklahoma advisor of filling out a blank check for $22,000 from a customer with dementia, picking up another $22,000 in cash from him.
Advisor and firm sold Native American group $190 million of nontraded REITS and BDCs over 3.5 years, reaping $11 million of commissions.
Arbitrators cite UBS’s “extreme recklessness and indifference” in sales of closed-end bond funds and use of non-purpose loans to buy more debt.
Regulator revisits trading desk, finds 35 pricing violations, imposes fine and restitution to customers.
Finra issues investor alert warning customers they may be unknowingly switched from their full-service broker to a more aggressive “advisory center” rep.
The regulator’s 2017 exam priority letter says it will focus on hiring procedures and supervision of reps with troublesome backgrounds.