Top Stories of the Week
Broker who was discharged from Merrill in 2015 purchased IPOs without written authorization from clients, Finra said.
Will pay a ceiling of around 250% of a recruit’s annualized revenue, well below the 330%-and-higher offer to big producers before DOL Rule restrictions.
Six brokers managing about $750 million left Wells Fargo Advisors, according to announcements on Tuesday from rival firms and brokers.
William Tirrell, Merrill’s former regulatory reporting boss, slapped on wrist with cease-and-desist by administrative judge despite agency’s holding him responsible for major segregated-fund sanction against firm.
Finra suspends former Morgan Stanley employee who allegedly wired money based on a fraudster’s e-mailed requests.
Top comments of the week:
By Diogenese on Ex-Merrill Broker Who Zealously ‘Rode the Calendar’ Pays Again
Not a death knell for retail syndicate. But, the advisors need to go to work early and the clients need to make themselves available before market open. The humorous side of the issue is that most advisors, since the dominance of third party managed fee business, don’t arrive for market open let alone before. Just leaves more allocation for the early risers…
By Judge Smails on LPL, Broker Beat Doctors’ $5.8 Mln Claim, But His Record Stays Scarred
Another example why only complaints or arbitrations that result in an award or remuneration should be on BrokerCheck – another unfounded, meritless complaint stays on this guys record for no good reason