Louis D. Dworsky was found in breach of promissory notes when he left the brokerage firm.
Finra said the adviser misled five IRA customers and then did not give an honest account of his actions.
The settlement was part of a broader crackdown by regulators in five states on insurers who allegedly failed to make death benefit payouts on a timely basis.
There already have been several suits over high fees, and a second front may be emerging over plan options.
Bad VA switches were supposed to be a thing of the past, but the independent broker-dealer industry should take heed of this fine.
Failure to follow the applicable rules can turn into a public enforcement action.
Regulator seeking common-sense changes to gift and non-cash comp rules for members.
Firms reluctant to sell now may struggle later to find a merger partner to survive.
Deal flow and complexity on the rise when it comes to sales of adviser businesses.
Plus: Brexit bust, SEC nabs doc for insider trading, and double your retirement savings
Despite heavily outspending investment adviser groups on lobbying lawmakers in the second quarter, industry trade associations didn't succeed in a key goal.
SEC ruling includes a civil penalty of $600,000 for Ms. Bennett and $2.9 million for Bennett Group.
Here are the main points of confusion among Fidelity's many adviser clients, and some insights that might help guide their strategy.
Once-plain-vanilla funds due for a serious makeover, meaning now is the time to carefully assess cash options.
Advisers should test their emergency plans periodically to make sure they are in compliance with Securities and Exchange Commission rules.
Regulatory experts say there's a strong likelihood advisers would lose the grandfathering exemption granted under the fiduciary measure simply by switching firms.
Under the SEC, pay-to-play rules kick in for RIAs who contribute to a candidate for office who could influence the selection of an adviser for state accounts.
First-quarter profit nearly double what the company posted in the previous quarter.
Labor Department's regulation will not take effect Dec. 1.
The independent broker-dealer is paying restitution for failing to waive sales charges for some retirement plans and charitable organizations, according to Finra.
