FINRA Fines Ameriprise for Rep Who Stole $370K From His Family
Ameriprise was fined for allegedly failing “to exercise reasonable due diligence in supervising” the accounts, the regulator said.
SEC Bars 2 Advisors Who Said They Managed Money ‘God’s Way’
The advisors promised investors "indestructible wealth" while misusing their money, the SEC said.
Advisor Put Transit Workers on Risky Investment Path, FINRA Says
Retired bus workers lost some $140,000 due to "unsuitable" investments in energy firms and gold, says a FINRA complaint.
Morgan Stanley Reaches $4.7M Settlement With State of Mississippi
Investors at its Ridgeland branch, where client risk tolerance data was entered incorrectly, will get $4.2 million.
Ex-Stifel Broker Loses FINRA Case Over Unauthorized Farm Loan
The broker must pay his former BD after he borrowed money from a client to buy farmland without proper approval.
Morgan Stanley to Pay Fired Rep $2.4M, Clear His Record
FINRA arbitration panel rules the wirehouse made "defamatory statements" to clients of a Florida advisor let go in 2014.
FINRA Sweeps Broker-Dealers for Info on Nontraded BDCs
The exam sweep covers all member firms and advisors selling the companies between January 2015 and June 2016.
Ex-Wells Fargo Rep Must Pay Firm $1.2M
FINRA says advisor Robert Loftus must cover promissory notes, interest and legal costs.
Investors Fight Brokers From Cetera, Wells Fargo Over Big Energy Losses
Investors are not happy with low oil prices, and a growing number of them are taking action against their advisors.
Securities America to Pay $1.5M for Fund Overcharges
The broker-dealer "disadvantaged" 1,514 clients who were eligible to buy share classes without extra charges, FINRA says.