Douglas Simanksi told clients he would invest their money in a 'tax free' fixed-rate investment, SEC charges.
Agency reports 108 stand-alone enforcement actions involving investment advisers and companies, up 31.7%.
Former RBC Capital Markets broker made distributions from his spouse's IRA without her approval.
Firm will repay $447,000 to clients it overcharged for more than seven years.
Wealth management boss Andy Sieg says firm's withholding of fees and commissions is in line with competition.
The broker-dealer lost 56 brokers and advisers in the third quarter, and not all of them low-producers the firm wants to shed.
The broker, Dennis Ferwerda, failed to cooperate in Finra's investigation.
Fired by Morgan Stanley in 2016, Bruce Plyer failed to give testimony in a Finra investigation.
Dawn Bennett just the latest in a growing list of malfeasance by advisers and others.
Overall, broker and adviser movement slowed during the quarter, with 101 teams shifting firms compared to 124 at this time last year.
