Registered Reps

Latest Private Placement Settlement Lays Out Just What Qualifies As Due Diligence...And What Falls Short

http://iimagelibrary1.advisorproducts.com/images/igallery/original/701-800/meetings_agreements__1078_-766.jpg
by ScottMartin     November 29, 2011      0.0 (0) 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.

Read more ...

Old Unsuitable Securities Sales Finally Catch Up With LPL

http://iimagelibrary1.advisorproducts.com/images/igallery/original/1201-1300/meetings_at_computer__1019_-1263.jpg
by ScottMartin     November 25, 2011      0.0 (0) 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.

Read more ...

Washington State Broker Burned Through $4 Million In Client Funds While Living Large

http://iimagelibrary1.advisorproducts.com/images/igallery/original/701-800/meetings_agreements__1068_-756.jpg
by ScottMartin     September 09, 2011      0.0 (0) 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.

Read more ...

Did Stifel Nicolaus or RBC Sell Unsuitable Debt To Schools?

http://iimagelibrary1.advisorproducts.com/images/igallery/original/1201-1300/meetings_at_computer__1021_-1265.jpg
by ScottMartin     August 12, 2011      0.0 (0) 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.

Read more ...

Raymond James Fights $1.7 Million Annuity "Churning" Settlement

http://iimagelibrary1.advisorproducts.com/images/igallery/original/701-800/meetings_agreements__1087_-775.jpg
by ScottMartin     July 29, 2011      0.0 (0) 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.

Read more ...