Tagged with "FINRA"

Former J.P. Morgan Advisor Agrees to FINRA Bar

Posted on December 2nd, 2022 at 1:19 PM
Former J.P. Morgan Advisor Agrees to FINRA Bar

A former J.P. Morgan advisor has agreed to an industry bar instead of cooperating with the Financial Industry Regulatory Authority’s (FINRA’s) investigation into several allegations of excessive and unauthorized trading that generated nearly $100 million worth of client complaints.

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FINRA Amends and Delays Expungement Rule Proposal

Posted on November 22nd, 2022 at 1:51 PM
FINRA Amends and Delays Expungement Rule Proposal

The Financial Industry Regulatory Authority (FINRA) once again has amended and delayed a proposed rule change designed to tighten the process for advisors to expunge client complaints from their records. 

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FINRA Fines Wedbush Securities $850,000 For Allegedly Falsifying Client Statements

Posted on November 21st, 2022 at 2:12 PM
FINRA Fines Wedbush Securities $850,000 For Allegedly Falsifying Client Statements

The Financial Industry Regulatory Authority (FINRA) has fined Wedbush Securities $850,000 to settle allegations that the firm falsified monthly client statements for five years.

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FINRA Releases Regulatory Notice Urging Advisors To Prepare Succession Plans

Posted on November 15th, 2022 at 1:12 PM
FINRA Releases Regulatory Notice Urging Advisors To Prepare Succession Plans

The Financial Industry Regulatory Authority (FINRA) is urging financial advisors to establish a succession plan incase of unexpected life events as an increased number of advisors near retirement.

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FINRA Seeks to Extend Remote Inspections Through 2023

Posted on November 11th, 2022 at 12:55 PM
FINRA Seeks to Extend Remote Inspections Through 2023

The Financial Industry Regulatory Authority (FINRA) is once again seeking to extend a temporary rule permitting financial advisory firms to remotely examine branch offices. 

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FINRA Suspends Former LPL Advisor Who Promised Client “Plenty of Money”

Posted on November 10th, 2022 at 2:11 PM
FINRA Suspends Former LPL Advisor Who Promised Client “Plenty of Money”

The Financial Industry Regulatory Authority (FINRA) has issued a three-month suspension and $10,000 fine to a former LPL advisor who allegedly promised to double a client’s investment by improperly texting the client from a personal phone.

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FINRA Orders Raymond James to Pay $1.1 Million For Overcharges and Supervisory Failures

Posted on November 2nd, 2022 at 3:11 PM
FINRA Orders Raymond James to Pay $1.1 Million For Overcharges and Supervisory Failures

The Financial Industry Regulatory Authority (FINRA) has ordered Raymond James to pay at least $1.1 million over supervisory failures that resulted in excessive commissions charged to clients as well as unauthorized changes to account designations on trades. 

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FINRA Fines Janney Over Compliance Failures Related to Two Advisors

Posted on October 31st, 2022 at 11:41 AM
FINRA Fines Janney Over Compliance Failures Related to Two Advisors

The Financial Industry Regulatory Authority (FINRA) has fined Janney Montgomery Scott, a regional financial advisory firm, $245,000 due to compliance failures that permitted two advisors to over-concentrate 11 clients in energy equities.

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FINRA Imposes First Fine For Reg BI Violation

Posted on October 26th, 2022 at 1:53 PM
FINRA Imposes First Fine For Reg BI Violation

The Financial Industry Regulatory Authority (FINRA) has issued a six-month suspension and a $5,000 fine to a former financial advisor in the regulator’s first disciplinary action related to Regulation Best Interest (Reg BI). 

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FINRA Updates Sanction Guidelines by Eliminating Suggested Fine Cap

Posted on October 18th, 2022 at 2:19 PM
FINRA Updates Sanction Guidelines by Eliminating Suggested Fine Cap

The Financial Industry Regulatory Authority (FINRA) has updated its sanction guidelines used to determine the level of fines or penalties to impose on firms and their financial advisors. 

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LATEST NEWS AND ARTICLES

March 14, 2025
Apex Clearing to Pay $3.2 Million in FINRA Settlement Over Securities Lending Violations

Apex Clearing, the clearing arm of Apex Fintech Solutions, has agreed to pay $3.2 million to settle FINRA allegations that it failed to ensure customers received compensation for lending their securities.

March 13, 2025
Congress Considers Expanding the Accredited Investor Definition

A recent congressional hearing examined potential reforms to the accredited investor definition, a critical threshold determining who can participate in private market investments.

March 12, 2025
GPB Capital Investors May Receive Some Compensation Under Proposed Distribution Plan

GPB Capital Holdings investors have not received returns on their investments since 2018. According to InvestmentNews, after years of litigation, a court-appointed receiver has submitted a plan to return funds to the 17,000 investors who purchased $1.8 billion in GPB limited partnerships.