Registered Reps
Latest Private Placement Settlement Lays Out Just What Qualifies As Due Diligence...And What Falls Short
So many broker-dealers that sold private placements have gone out of business instead of settling their obligations that it's hard to remember exactly what they did wrong in the first place.
Old Unsuitable Securities Sales Finally Catch Up With LPL
State regulators have fined LPL $100,000 for failing to supervise one of its branch managers several years ago -- even though compliance has improved significantly in the meantime.
Washington State Broker Burned Through $4 Million In Client Funds While Living Large
A 32-year-old broker in Washington State allegedly managed to lose or spend about $4 million of his clients' funds, while buying himself luxury cars and a $2 million house.
Did Stifel Nicolaus or RBC Sell Unsuitable Debt To Schools?
Stifel Nicolaus is fighting SEC charges that its reps sold $200 million in collateralized debt to Wisconsin schools that just could not handle the risk.
Raymond James Fights $1.7 Million Annuity "Churning" Settlement
After being fined $1.7 million for failing to monitor a rep who was apparently churning an elderly client's annuity portfolio, Raymond James is fighting the arbitrators on what looks like technical grounds.
