It was revealed this week that Finra has fined and suspended the head of small indie B-D. No big deal, right? Well, this executive also happens to sit on the regulator's board of directors.
Barred broker Ralph Edward Thomas Jr. was sentenced to four years in prison last February and ordered to pay $838,000 in restitution.
Urges commission to extend standard of care to brokers, not devise new rule
It didn't take long for the lobbying to reignite on a bill that would establish one or more self-regulatory organizations for investment advisers after Rep. Spencer Bachus, R-Ala., prevailed in his primary on Tuesday. An interest group was soon paying respects.
A Colorado man faces nine counts of securities fraud related to the sale of Medical Capital notes
Advisers can fill void left by doctors, lawyers; living wills, DNRs crucial
Dispute claims of reps who left after BofA merger
Program costs of Trust Funds to exceed non-interest income this year; well runs dry by 2033
Mooney, Morris launch Snowden Capital Advisors; counting on word of mouth to attract advisers
Insurer sees big room for growth in fund world; relocating, bulking up sales force
Ponzi scheme wiped out almost $1B in investor money
FPA stepping up efforts to gain mandatory oversight of the profession; 'aspirational'
Joins Board of Governance of RIIA's retirement income designation program
2.6M claim involved DBSI TICs; significant exposure remains
By any standard, it was a big loss. A Finra panel on Wednesday not only ordered the brokerage to pay two ex-workers $5.2M in back pay, but tacked on a $5M punitive charge. Now, Merrill is striking back. In a court petition seeking to overturn the ruling, the brokerage claims a panel member has it in for the firm.
