August 12, 2020
Finra Elects Small-Firm Governor, Re-Elects Large-Firm Governor
Wendy Lanton, who previously chared Finra’s small firm advisory committee, was elected small firm governor while Jim Nagengast was re-elected as large firm governor.
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August 12, 2020
Merrill's FA Trainee Client Prospecting Pause is Due to Violations: Trainee
The wirehouse “consistently” reviews its policies, procedures and controls “for potential enhancements,” a spokesperson says.
Last Comment: August 12, 2020
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2 Comments
August 12, 2020
Judge Grants JPMorgan’s TRO Request Against Ameriprise FA
Meanwhile, Paul Riley, whom JPMorgan accused of taking $25 million in client assets to Ameripise, has filed a motion for a reconsideration of the temporary restraining order.
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August 11, 2020
Attorneys General to DOL: Withdraw Advice Rule or Extend Comment Period
The AGs are calling for an extension of the comment period to 90 days.
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August 11, 2020
SEC’s New Proxy Voting Rules Add Transparency to the Process: Academic
The recent amendments will allow investors to see any disagreements between corporate issuers and proxy advisory firms in a way they weren’t able to before, says Ed Hirs.
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August 11, 2020
Interactive Brokers Fined $38M Over Failure to Report Suspicious Activities
The firm has settled with the SEC for $11.5 million, with Finra for $15 million and with the Commodity Futures Trading Commission for $11.5 million, according to the SEC.
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August 10, 2020
Watch Out for ‘Nefarious' Ways Criminals Can Operate: Consultant
Transcript Video [ 3:20 ]
Amy Lynch, president and founder of FrontLine Compliance, says key safeguarding concerns include data theft, identity theft and money laundering issues.
Transcript Video [ 3:20 ]
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August 10, 2020
Finra Suspends Ex-LPL Rep for Signing for Colleague on Several Forms
John Pace McConkie allegedly signed the name of a senior registered representative on at least seven occasions.
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August 10, 2020
PPP Lending Suits Against Wells, JPMorgan, BofA Won't Be Consolidated
The Judicial Panel on Multi-District Litigation denied a bid from groups suing the firms to consolidate the lawsuits.
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August 10, 2020
Ex-Merrill FA Suspended Over Unauthorized Trades, Felony Indictment
Finra’s cases against Sylvester Knox involves at most seven customer accounts, but the advisor has around two dozen customer disputes on his BrokerCheck record.
Last Comment: August 10, 2020
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1 Comment