Laurence I. Balter, founder of Oracle Investment Research, also allegedly charged clients both an advisory fee and a fund-management fee.
The broker borrowed $300,000 total from two clients in violation of Finra rules and firm policy.
Lessons can be learned from larger firms that have completed Finra's examinations, and from the safeguards they've built to avoid future problems.
Plus: The Fed almost raised rates again, Neuberger Berman would rather fight than settle, and welcome to the worst kind of job interview
The company's "criminal epidemic" caused its stock price to tumble, leading to hundreds of millions in losses that 401(k) fiduciaries didn't try to prevent, according to allegations.
Neil Moscicki allegedly violated the noncompete covenant of his employment agreement.
It's part of an industry sweep that targeted firms with an above-average number of reps with current misconduct reports on their records.
Uptick in adviser crackdown attributed to better data analytics and agency's new unit focused on asset management. <b><i>(Related read: <a href="//www.investmentnews.com/article/20161005/FREE/161009968/supersized-fines-put-finra-on-pace-for-record-year"" target=""_blank"" rel="noopener noreferrer">'Supersized' fines put Finra on pace for record year</a>)</b></i>
Arbitration panel pointed to customer letters as evidence the brokers had done nothing wrong.
Revenue tied to alternative investments such as nontraded REITs plunged 72% year-over-year.
Firm purchases Wheelhouse Analytics as tool to glean more insight into client portfolios and benchmark accounts against peers.
Providers such as MassMutual and Mercer have recently unveiled new services, part of a trend seeking to capitalize on disruption caused by the DOL fiduciary rule.
Join the conversation with IN's senior Washington reporter, Mark Schoeff Jr., and your adviser peers on Twitter during the presidential debate at 9 p.m. ET Sunday using <b>#INDebate16</b>. <b><i>(More: <a href="http://www.investmentnews.com/article/20160925/FREE/160929970/hillary-clinton-vs-donald-trump-who-are-you-voting-against" target="_blank">Advisers sound off about who, Hillary Clinton or Donald Trump, they are voting </i>against<i></a>)</b></i>
Move could pressure other wirehouses to follow suit and lead to adviser attrition. <b>Plus, <a href="http://www.investmentnews.com/section/fiduciary-focus" target="_blank">Find answers to all of the most frequently asked questions on DOL fiduciary rule</a>.</b>
Southeastern firms likely will get to test those enhanced continuity plans the SEC is pushing.
New CEO likely to get an earful as he embarks on a 'listening tour.'
The wirehouse is the first major firm to announce concrete plans for compliance with the Labor Department regulation.
Charges centered around making misrepresentations in private placements.
Complaint naming Jackie Wadsworth, CEO of IMS Securities, centers around sale of VAs and real estate securities.
Employees reclassified clients' custodied assets as managed assets to meet sales targets.
