Company has spent nearly $19 million this year preparing for the regulation.
Bonuses were tied to getting clients to open loan accounts, which went against the firm's internal prohibition on such initiatives. <b><i>(Related read: <a href="http://www.investmentnews.com/article/20161003/FREE/161009986/former-morgan-stanley-broker-barred-for-unauthorized-borrowing-from" target="_blank">Former Morgan Stanley broker barred for unauthorized borrowing from clients</a>)</b></i>
State launches a sweep of 241 firms with above-average numbers of brokers with misconduct reports on their records.
Accused of forging parents' names on withdrawal request forms, intercepting checks and then spending money without their permission.
Two industry observers question the benefits of how the deal is structured.
Open to Fidelity's custody clients, advisers will have access to an online portal, one-on-one coaching and peer learning opportunities.
Nuts-and-bolts improvements for firm's 14,000 advisers stressed.
Company cites market volatility and financial uncertainty as factors for pay freeze.
It's part of an industry sweep that targeted firms with an above-average number of reps with current misconduct reports on their records.
Complaint naming Jackie Wadsworth, CEO of IMS Securities, centers around sale of VAs and real estate securities.
