The nation’s largest independent broker-dealer failed to maintain proper supervision of record retention, fingerprinting and screening of associated persons, consolidated reports.
Former UBS and Morgan Stanley brokers are fined and suspended by regulator over client privacy violations after losing their new posts at Wells Fargo and Raymond James.
Wells Fargo and a broker now with Raymond James are ordered to pay almost $170,000 for failing to disclose the “significant and unnecessary” tax impact of recommendation to sell out a stock position.
Oregon woman who signed broker’s name on documents requiring his signature draws two-month suspension and $5,000 fine.
Florida advisor argues that an arbitrator’s quick designation shift to public from non-publication arbitrator invalidates the October promissory notes decision.
New York City advisor who was shifted from a Wells bank branch to a brokerage office accused the bank of confiscating his and a partner’s deferred comp, growth award and lost opportunity costs.
New website lists those who have not paid customer awards, including those who cite bankruptcy as reason for their delinquency.
Unusually swift expungement award to UBS advisor in Boca Raton reflects recanting of complaint from one former customer and confused testimony from another.
Arbitrators also order bank to forgive New York broker’s promissory note and change wording on regulatory filings to show that it unjustly fired him.
Virginia advisor timely repaid a $250,000 loan he used to remodel his “breakaway” office while at the wirehouse, but lost his job and has been sanctioned for failing to receive Merrill approval.