Tagged with "FINRA"

FINRA Adopts New Rule for Advisors Holding a Position of Trust

Posted on November 3rd, 2020 at 9:24 AM
FINRA Adopts New Rule for Advisors Holding a Position of Trust

The Financial Industry Regulatory Authority (“FINRA”) has adopted a new rule that will limit an advisor’s ability to hold a “position of trust” for a client, such as a power or attorney, trustee or executor.

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FINRA Suspends Former Merrill Lynch Advisor

Posted on November 2nd, 2020 at 11:27 AM
FINRA Suspends Former Merrill Lynch Advisor

Former Merrill Lynch advisor, Andrew LeBlanc II, agreed to pay a $20,000 fine and serve a six-month suspension from association with any FINRA member firm in any capacity.

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FINRA Suspends Former SagePoint Financial Advisor

Posted on October 28th, 2020 at 3:16 PM

Former SagePoint Financial advisor, Troy R. Baily, agreed to pay a $5,000 fine and serve a six-month suspension from association with any FINRA member firm in any capacity.

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Another Advisor Barred for Failure to Cooperate with FINRA Investigation

Posted on October 22nd, 2020 at 3:49 PM
Another Advisor Barred for Failure to Cooperate with FINRA Investigation

Sean Michael Refsnider, a former registered representative at Ameriprise, has agreed to a bar from association in all capacities with any FINRA member.

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FINRA Again Postpones In-person Hearings

Posted on October 15th, 2020 at 3:42 PM
FINRA Again Postpones In-person Hearings

The Financial Industry Regulatory Authority (“FINRA”) announced that all in-person arbitration and mediation proceedings will be postponed through the rest of 2020 due to COVID-19.

 

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Advisor Barred for Failure to Cooperate with FINRA Investigation

Posted on October 14th, 2020 at 11:44 AM
Advisor Barred for Failure to Cooperate with FINRA Investigation

Neil James Buono, a former registered representative at Pruco Securities, has agreed to a bar from association in all capacities with any FINRA member.

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FINRA Suspends Former LPL Financial Advisor for Outside Business Activity

Posted on October 8th, 2020 at 2:46 PM
FINRA Suspends Former LPL Financial Advisor for Outside Business Activity

Former LPL Financial advisor Tracy M. Meade agreed to pay a $5,000 fine and serve a 2-month suspension from association with any FINRA member firm in all capacities.

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FINRA Suspends Broker for Unauthorized Transactions

Posted on September 25th, 2020 at 8:48 AM
FINRA Suspends Broker for Unauthorized Transactions

Former JP Morgan Securities broker, Deborah L. Beal, agreed to pay a $5,000 fine and serve a 2-month suspension from association with any FINRA member firm in all capacities.

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FINRA Proposes Rule Change to Expungement Rules

Posted on September 24th, 2020 at 3:59 PM

The Financial Industry Regulatory Authority (“FINRA”) submitted a proposal to the U.S. Securities and Exchange Commission (“SEC”) to amend the Code of Arbitration Procedure relating to expungements.

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Morgan Stanley Agrees to Settle FINRA Charge of Failure to Supervise

Posted on August 24th, 2020 at 10:04 AM
Morgan Stanley Agrees to Settle FINRA Charge of Failure to Supervise

Morgan Stanley Wealth Management has reached an agreement with the Financial Industry Regulatory Authority (“FINRA”) to settle charges relating to alleged supervisory failures.

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LATEST NEWS AND ARTICLES

March 19, 2025
FINRA Enforcement Actions in 2024: Fines Drop But Cases Increase

The Financial Industry Regulatory Authority (FINRA) imposed $59 million in fines in 2024, reflecting a 35 percent decrease from the previous year, according to an analysis by Eversheds Sutherland.

March 18, 2025
Advisor Ordered to Pay $17.7 Million Over unsuitable REIT Sales

A FINRA arbitration panel has ordered former advisor Mark Sam Kolta to pay nearly $17.7 million in damages, plus interest and costs, to his former firm, National Securities, following allegations of breach of contract and unjust enrichment.

March 17, 2025
FINRA Disciplinary Actions Rise for the First Time Since 2016

The Financial Industry Regulatory Authority (FINRA) increased its enforcement actions in 2024, marking the first rise in disciplinary cases since 2016, as reported by AdvisorHub.