As part of the settlement, Edward Jones will create a new financial adviser council to address diversity issues and senior management will be kept informed of those initiatives.
Calton & Associates, with 400 reps and advisers, is looking at paying restitution of close to half a million to clients who bought leveraged exchange-traded funds.
In the face of an unprecedented pandemic, Dan Arnold and James Cracchiolo saw their total pay fall last year.
Chris Burns is facing mail fraud charges from an alleged scheme that defrauded dozens of clients of more than $10 million. "It’s time," Meredith Burns said in a TV interview. "He needs to be brought in for these crimes."
The acquisition market for broker-dealers looks like it is perking up as broker-dealer networks owned by private equity managers continue to hunt for assets. Year-to-date there have been four broker-dealer transactions totaling $65 billion in assets.
Firm leaders understand the cybersecurity threat is real. But have broker-dealers taken appropriate precautions to protect advisers and their clients?
Selling away charges are at the center of three large customer complaints against ex-broker John Krohn. In 2018, Finra reached a settlement with Krohn in which he was suspended from the industry for three months and paid a fine of $10,000.
The firm is cautiously increasing hiring at the moment, essentially new advisers, but at a lower rate than in the past. Training financial advisers takes time and is also expensive, with a high percentage of trainees typically not making the cut.
Special purpose acquisition companies, or SPACs, have been all the rage for the past 12 months, but will the fever outlast the pandemic?
Finra's department of enforcement has investigated Cambridge's due diligence of the sale of the defunct LJM Preservation and Growth Fund.
