Chattanooga, Tennessee-based William F. Winchester III was registered with LPL Financial from 2007 to 2012 and then with Raymond James Financial Services.
A multistate investigation of the problems in 2020 cited Robinhood for technology failures as well as lack of diligence in approving options trading.
Finra's action was another by the broker-dealer self-regulator that targets a best-execution failure by a member firm.
Mutual of America agreed to settle an ERISA excessive fee lawsuit filed by 401(k) participants last week.
The SEC enforcement action is another example of the agency's increased scrutiny of wrap-fee programs.
Critics say proposals that target payment for order flow try to do too much, too fast, and conflict with rules in place that are working.
Open claims against the Iowa-based broker-dealer totaled $32.1 million at the end of 2022, eight times what it reported a year earlier, according to an SEC filing.
Interest both for and against sustainable investing will almost certainly be rising — and that means that financial advisors can’t afford to ignore it.
Each of the measures failed to get enacted in the previous Congress. The tax bill starts off with just GOP support, while the other two come out of the gate with bipartisan backing.
An expansive network of platforms and services has evolved that's designed to support breakaway brokers.
Secretary of the Commonwealth William Galvin, one of the most aggressive state regulators, has issued a subpoena, his spokesperson said.
GOP members of an appropriations subcommittee argue against the agency's request for an increase in its funding.
If financial advisors don't seek the firm's approval, they risk running afoul of securities regulators, Cetera said.
Finra arbitrators ruled on the estate's claim that Morgan Stanley ignored rules laid out by a court for how funds in the estate were to be handled.
The agency's examinations found programs weren't tailored to business models and were inadequately funded.
Once approved by the court, it is expected to benefit more than 64,000 people covered by the Coca-Cola retirement plan since February 2015.
The commissioner characterizes SEC Chair Gensler's agenda as seeking dramatic regulatory change over 'huge swaths of the market,' while his predecessor, Jay Clayton, was more incremental.
After last year's Supreme Court decision overturning Roe v. Wade, more companies face votes on reproductive health care.
The deal transforms North Carolina-based First Citizens into one of the top 15 U.S. banks, as it buys about $72 billion of SVB's assets at a discount of $16.5 billion.
As the Justice Department investigates whether financial professionals helped Russian oligarchs evade sanctions, subpoenas also went to employees of some major US banks.
