FINRA Fines Aegis $950,000, Suspends Top Execs
The charges are linked to unregistered penny stocks, sold by groups based in Turks & Caicos.
FINRA Blasts DOL’s Fiduciary Redraft as ‘Fractured, Confusing’
In its 21-page comment letter, FINRA tells DOL to modify its plan so that BDs do not abandon small accounts.
Wells Fargo Grabs Morgan Stanley, Merrill Reps as Raymond James Nabs UBS Team
The four new Wells Fargo advisors come on board with some $900 million in assets; the new RJ group has some $300 million.
Morgan Stanley Fined $2 Million Over Short-Sale Reporting
Billions of shares in positions weren't fully disclosed over a six-year period, according to FINRA.
FINRA Doubles Length of Suitability Suspensions, Toughens Fraud Sanctions
FINRA says it will be tougher on those committing fraud or making unsuitable recommendations and will increase suspensions for breaking suitability rules.
FINRA Arb Panel Grants $500K to Ex-Morgan Stanley Rep
The advisor, now with FiNet, said the firm had pushed him out and tainted his reputation.
LPL Names Wright to New CTO Slot
The new IBD executive reports to Chief Information Officer Victor Fetter.
FINRA Bars Rep, BD for Misleading Private Placement Investors
Tony Thompson, who sold tenant-in-common deals from 2008-'12, was found to have misled investors on the financial condition of some investments.
FINRA Hits Firm for $916,000 Over Illegal Short Sales
First New York is being sanctioned for shorting shares ahead of 14 public offerings.
SEC, FINRA Enforcement: Firm Fined Over Interfund Loans
Meanwhile, FINRA censures and fines Thrivent Investment Management for failing to deliver thousands of trade confirmations of mutual fund transactions.