The former SEC commissioner Daniel Gallagher, now chief legal officer at Robinhood, could be a leading contender to lead the agency if Trump regains the White House.
Churning cost customers more than $6 million, according to Finra.
Crypto trading platform fires back against a legal threat by the regulator, contending it has "unilaterally expanded its jurisdiction beyond statutory limits."
“The numbers are wrong," says broker, who made $1.5 million after guiding clients to invest in friend’s firm, according to the Bureau of Securities.
Having led the division of enforcement since 2021, Grewal's tenure included record penalties against firms for securities-law violations.
The two former advisors' years-long schemes reportedly generated more than $6.3M in illicit profits at their clients' expense.
Based in suburban St. Louis, Maloney Securities has 125 financial advisors on its platform.
A firm and its owner agreed to a settlement with the SEC over alleged misstatements to customers and a lack of procedures to ensure compliance.
Panelists go over the challenges in hiring social media influencers and communicating about complex products.
The alleged fraud began in 2020, according to the SEC.
Firms let accounts go over designated exposure levels, which led to higher fees and losses for clients, according to the SEC.
One firm avoided penalties as it proactively self-reported and took compliance action, according to the regulator.
Industry groups hail the move in the Pelican State as another win for consumers in need of lifetime income.
“Insurance is paramount in the broker-dealer industry, but you have to have insurance that pays,” a plaintiff's attorney said.
"I reiterate that I disagree with the allegations made in these suits," says Jim Walesa.
House Republicans passed legislation this week that would potentially tamp down on sustainable investing options within retirement plans.
Firm attempted to minimize losses in thousands of "odd lot" positions by executing unfavorable cross trades with retail mutual funds and third-party broker-dealers, according to the regulator.
“It’s a bit ironic individuals can use the money taken from investors to pay for lawyers to keep them out of jail,” says one executive.
Nine out of the 11 firms charged by the federal regulator have agreed to pay civil penalties related to Form 13F and Form 13H violations.
In reality, the firm managed less than $25 million, according to the SEC.
