Affiliates of the Wall Street giant have agreed to pay civil penalties and voluntary payments to investors for failures in its disclosures, fiduciary breaches, and failures to make recommendations in customers' best interests.
The Securities Industry and Financial Markets Association outlines frustrations around rules that overlap with SEC and Finra regulations, telling CFP Board: You’re not a regulator, so stop acting like one.
The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.
“YieldStreet raised money and some of the ships disappeared,” one attorney says.
"Beating up on a broker who is not represented by an attorney is akin to taking candy from a baby,” says one attorney.
Recommendations of more than $800k in limited partnerships led to unsuitably large concentrations of alts in their portfolios, Finra finds.
NASAA's 2024 report showcases rising scrutiny of digital assets and social media scams, with older investors emerging as vulnerable targets.
“Big Tech companies and big Wall Street firms should not behave as if they are exempt from federal law," says head of federal consumer protection agency.
Finra suspended the broker, Luke Johnson, earlier this year.
SEC charged the firm with making misstatements and compliance failures.
SEC Chair Gary Gensler reaffirms the regulator's role in protecting investors amid perennial and emerging industry risks.
Alabama resident charged over January hijacking of the Securities and Exchange Commission's X account before historic decision on spot bitcoin ETFs.
The Cincinatti firm reportedly missed multiple signs that the errant advisor misappropriated $728k from clients to fund his gambling, pay personal expenses, and repay other investors.
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.
