Finra
Finra Proposes New Crackdown on Rogue Brokers
Highlighting the industry’s “few bad apples” risks casting shadow over its many responsible advisers but regulation builds investor confidence, CEO Cook says.
Former Edward Jones Broker Barred for ‘Borrowing’ $60K from Client
Finra also suspends a second broker who failed to notify Jones that he and his wife were beneficiaries of an elderly client’s account and estate.
Even When Brokers Win Non-solicitation Battles, They Can Feel Like Losers
Despite two wins and a draw in the past two weeks, brokers sued by their former employers ended up paying bills.
Did You Hear the One About the Merrill Broker Who Became a Lead Generator?
Finra suspends one former Merrill FA in Arizona who tried hawking clients’ names to another broker and a former associate in Georgia who took client-signature shortcuts.
Weekend Update: Tarnished Broker Wins Expunge Bid; Morgan Stanley Vet Gets Marked Up
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.
Oft-Sanctioned Ex-Broker Kathleen Tarr Loses Expungement Request
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.
Finra Mulls Best-Interest Standard for Brokers: CEO
The self-regulator could step in if the SEC fails to mandate a stronger customer-care rule for brokers, Robert W. Cook said.
Fired by Wells, Veteran Broker Three Years Later Is Suspended by Finra
Former broker who kited checks and lost battle to keep $900K hiring bonus gets three-month time-out from industry regulator.
Beware of Clients Bearing Cash Gifts
Finra suspends former Merrill Lynch broker in Arkansas who allegedly took money for his kids’ education and lied to compliance about it.
Jones Broker Who Bet on Ponies Ripped Off Elderly Client—Finra
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.
PKS to Pay $4.2 Million for Alt Product Sales to Michigan Tribe
Advisor and firm sold Native American group $190 million of nontraded REITS and BDCs over 3.5 years, reaping $11 million of commissions.