FINRA Enforcement: Oppenheimer to Pay $3.75M for Failure to Rein In Broker
Meanwhile, FINRA fined Ameriprise Financial over a rep who hid a customer complaint.
SEC Probing BDs’ Low Number of Suspicious Activity Reports
Considering the volume of transactions and the nature of the BD industry, the SEC's top cop finds the dearth of SARs a little, well, suspicious.
SEC Commissioners Rail Against Oppenheimer & Co. Waiver
SEC waiver throws away "valuable enforcement tools" and adopts a policy of "too-big-to-bar," says Rep. Maxine Waters.
Oppenheimer & Co. Fined $20M Over Penny Stocks, AML Violations
Oppenheimer & Co. agreed Tuesday to pay $10 million to Treasury and $10 million to the SEC for penny-stock related misconduct.
Goldman Sachs Profit Declines on Drop in Fixed-Income Trading
The firm posted its lowest annual trading revenues since 2005.
SEC Sanctions Schwab, TD Ameritrade, 11 Others on Puerto Rican Junk Bond Sales
The SEC Monday sanctioned 13 firms under MSRB's minimum investment rule intended to keep retail investors out of higher-risk offerings.
Ex-UBS Intern Sues for $5M Over Sexual Harassment, Discrimination
Young woman says her advisor boss promised her purses and shoes as “a bonus” for sexual favors.
SEC Enforcement: Kansas Charged With Securities Fraud
In another action, a brokerage firm and its founder were charged with violating net capital requirements and falsifying data in an attempt to mislead examiners.
Raymond James Recruits 3 Wirehouse Teams, $875M in Client Assets
Meanwhile, Morgan Stanley and Merrill Lynch grab advisors from each other in the latest recruiting push.
BofA Q2 Earnings Tumble on $4 Billion Expense for Litigation
Bank of America spent $4 billion in the second quarter to cover litigation costs, including a mortgage settlement with American International Group.