Federal Regulation
Get the latest news and insights on regulatory developments affecting financial advisors and the stock market and trading, including news about the SEC, DOL, IRS and the Financial Industry Regulatory Authority.
Ex-JPMorgan Rep Traded $314K of Senior's Funds Without Authorization: FINRA
By Jeff BermanThe firm terminated the rep for the unauthorized client trading, and FINRA has now fined her.
September 11, 2020
Older Investors Prone to Financial Overconfidence, Risk-Taking: FINRAFinancial knowledge is lower among older investors but financial confidence isn't, a FINRA Foundation study finds.
September 11, 2020
SEC Obtains Final Judgment Against Ex-Stifel Rep Who Defrauded WidowThe rep was accused of misappropriating his elderly client's funds for his own personal use.
September 11, 2020
Wells Fargo Says Reps Can Be Wined and Dined for Remote MeetingsUnlike another wirehouse, the bank allows advisors to consume meals and drinks provided by vendors for virtual gatherings.
September 11, 2020
Advisor Who Blew $2 Million on Bad Trades Charged With FraudThrough a risky, unauthorized options trading strategy, the advisor caused a couple's portfolio to tumble from $2.2 million to just $27,000, SEC says.
September 10, 2020
FINRA Fines Former LPL, Woodbury Rep Who Accepted Client's GiftsThe broker, now suspended for four months, inherited over $715,000 after her "second cousin once removed" died, the regulatory group says.
September 10, 2020
Commonwealth Still Grappling With SEC Over 12b-1 FeesThe regulator wants more data about revenue sharing, as the firm seeks a protective order.
September 09, 2020
Former Compliance Chief to Pay $65K Over Broker's Leveraged ETF TradesThe CCO "enabled" a broker's unauthorized trades that lost $1 million of client money, the SEC said.