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Finra penalizes Long Island B-D $1 million for churning
Excessive trading in clients' accounts at Joseph Stone Capital occurred from January 2015 to June 2020, according to Finra.
SEC’s Gensler continues push to crack down on crypto rule-breakers
In a speech, the SEC chair repeated his demand that crypto exchanges, brokers and attorneys in the digital coin industry comply with securities rules.
FPA leader says exit from Financial Planning Coalition ‘not acrimonious’
CEO Patrick Mahoney hopes to work with the CFP Board and NAPFA in achieving legal protection for planning profession, even though it left the group over differences on the issue.
Oppenheimer loses Finra arbitration of $36.7 million stemming from alleged Ponzi
The investors cited a violation of Georgia's RICO law to boost their award against Oppenheimer.
SEC slaps Perceptive Advisors with $1.5 million penalty over SPACs
The regulator says the New York-based firm failed to disclose conflicts of interest.
Accusations intensify in Wendy Williams’ fight with Wells Fargo
An attorney who formerly represented the TV talk show host claimed that Williams was 'left to die' by her adviser at Wells Fargo and her former business manager.
Finra arbitrators award $468,126 to customers who invested in UBS YES product
But a different case centering on the complex option strategy was dismissed last month by a separate panel of arbitrators.
Former Merrill broker settles civil lawsuit over throwing smoothie
On Wednesday, James Iannazzo agreed to pay $7,500, an amount his attorney called a 'token payment.'
5 questions advisers should ask to make SEC audits as seamless as possible
By using a proactive approach, firms not only save time and minimize risk, but they also instill confidence into their team from the top down.
Legislation would end taxes on Social Security payments
A bill introduced by Rep. Angie Craig, D-Minn., faces long odds this year, while the prospects for broader reform of the program depend on the outcome of November's election.
Finra names Nathaniel Stankard chief of staff for regulatory operations
The executive, who had been senior adviser to Finra CEO Robert Cook, will spearhead regulatory integration.
State regulators warn real money can be lost in fake world
Denizens of the metaverse can be ripped off by virtual investments, the North American Securities Administrators Association said in an advisory.
SEC charges two North Carolina advisers with $75 million fraud
Gregory Lindberg and Christopher Herwig allegedly misappropriated $57 million in client funds, while their firm collected more than $21.4 million in advisory fees in connection with these schemes.
Kovack Advisors pays $900,000 to settle SEC charges over wrap program
The agency charged the firm with failing to monitor whether wrap-fee accounts were in the best interests of clients who did little trading.
Citigroup ordered to pay former ‘spoofing’ broker $725,383
A Finra arbitration panel said the firm owes Shlomo Salant compensation for 2014, the year he reached a settlement with the Commodity Futures Trading Commission for allegedly faking market interest in futures.
Borrowers could face state tax bills on forgiven student loans
Thirteen states have tax laws that would treat forgiven debt as income, meaning it's subject to state levies on earnings.
UBS dumped from Texas municipal bond deal
The bank won’t be part of the underwriting syndicate for transaction after state Comptroller Glenn Hegar included UBS on list of firms he deems “boycott” the fossil-fuel industry.
SEC strategic plan emphasizes best-interest enforcement
The document may be an indication that the agency will pursue more complex Reg BI violations.
Kovack Securities dinged by Finra for A-share trades
The firm was fined $210,000 for falling short on its supervision of short-term mutual fund trades, the regulator said.
Powell warns rates will stay high for some time
The Federal Reserve chair pushed back against the notion that the central bank would soon reverse course.
