The firm breached Finra rules when it directed some $2.9M in compensation to go to an unregistered entity, the regulator said.
The firm’s failure to flag a rogue representative’s unapproved transactions led to more than $7.2M in losses for at least 30 customers, says Finra.
A blind spot in the firm’s oversight system resulted in almost $265k in unnecessary charges and fees across 1,450 accounts, according to Finra.
The company is the latest targeted over annuity deals with Athene Annuity and Life Co.
Finra finds registered representatives at the wirehouse giant made unsuitable recommendations to over 1,300 clients across more than 2,000 accounts.
The firm and two individuals have settled, but CFO will fight to clear his name.
The amendments aimed at fostering a more tailored approach to disclosure for non-variable annuities sparked concerns for one dissenting commissioner.
Former advisor reportedly put his clients in unsuitable private placements and misappropriated part of a senior client’s $675K investment, among other breaches.
Federal agencies could be more easily defeated in court over their interpretations of laws passed by Congress.
Amid growing use of generative AI and large language models, the regulator is issuing a crucial reminder for its members.
Enforcement actions hit an all-time low last year while fines plummeted to half of 2016 haul, raising doubts about its effectiveness.
The proposed legislation governing funds for fiscal year 2025 would hamper the agency’s ability to administer, implement, or enforce the rule.
The conservative majority decision nullifying a nearly $1M penalty could hamper the regulator's power to extract high-dollar settlements.
Despite attacks on environmental, social, and governance data being used, one former Congressman said he is hopeful about climate investing.
The six largest lenders bought back more than $14B in shares in the first quarter as regulators hint at "lite" version of new rules.
The firm fell short of its fiduciary duty by paying customers dismal rates compared to what’s available in the market, according to class action.
High-profile hospital collapse sparks legislative action to ban REITs as landlords that experts say misses the mark.
BofA, Citi, Goldman, and JPMorgan must take remedial action on "shortcomings" in wind-down plans, finds regulators.
Recent moves against issuing firms and money managers show some parallels to the regulator's early crypto focus.
The ex-Merrill Lynch, Fifth Third advisor concealed his activities by telling clients to put $683k in a shell company, according to a complaint.
