The firm's settlement with the states was reminiscent of how broker-dealers handled various settlements in paying clients who bought auction rate securities.
Firm falsely claimed brokers in banking unit were paid based on client performance, regulator charged.
Finra orders the firm to pay $7.3 million for selling billions of unregistered microcap shares and having inadequate supervisory policies.
A unit of Fidelity has been targeted in a class-action suit for fiduciary breach under ERISA as a result of its alleged mismanagement of a stable value fund.
Claims against Justin Amaral include liquidating and acquiring annuities for victim by forging her signature.
Finra alleges a New Jersey-based broker-dealer failed to reasonably supervise VA sales.
<i>Breakfast with Benjamin</i>: This week's rate hike could hit the markets in a half dozen, mostly bad, ways.
In a victory for proponents of the rule, legislators' policy riders that would have prevented or delayed the regulation did not make it into the massive must-pass spending bill.
Some advisers swear by it, while others shun it as useless legalese.
Brokerages would have to send an 'educational communication' to investors outlining questions they should ask their broker about compensation and other inducements for switching firms.
Fiduciary legislation could be a part of Congressional negotiations to avoid a government shutdown.
A former Finra director says wild market gyrations over the summer will induce cases that could take months to fully reveal themselves.
Investor was sold aggressive investment strategies despite stating low tolerance for risk.
The initiative, signed into law in January, can't get off the ground until the president nominates members to the registry's board.
Due diligence considerations that plan advisers should make when a fund has adopted swing pricing.
Ex-Morgan Stanley broker now only has to pay about half of $2.9 million he was originally ordered to pay by Finra arbitrators.
As part of her claim, ex-broker alleges the wirehouse's recent move toward mandatory arbitration is an attempt to prohibit employees from publicly challenging unfair practices.
Rules proposed by Finra and MSRB would require brokers to detail the price differences they and the clients pay for corporate and municipal bonds.
Predictions on what the Labor Department's fiduciary rule will look like when implemented, and when that implementation might occur.
