Compliance
FINRA Goes After "No Class Action" Waivers, Starting With Schwab
- Details Category: Regulatory
Brokerage account paperwork has become notorious for asking clients to sign away their legal rights if anything goes wrong. Schwab seems to have taken that policy one step too far for the regulators.
National Broker-Dealer Fined For Failing To Catch $8 Million Ponzi Rep
- Details Category: Registered Reps
The SEC has chastised national brokerage firm 1st Discount and its former compliance supervisor for missing the warning signs of a rogue representative running a Ponzi scheme over most of the last decade.
Boston Advisor Found $50 Million In Fake Refunds For Clients, Tried To Pay His Own IRS Bill With Fake Checks
- Details Category: Advertising Compliance
An especially ambitious advisor has been convicted on nine tax counts as well as contempt of court for filing fake IRS returns for his clients while skipping his own taxes.
Business As Usual Cost Merrill Lynch Advisor A Pro Baseball Client
- Details Category: Registered Reps
Doug Mirabelli, formerly of the Boston Red Sox, has won more than $1.2 million in damages and fees from Merrill Lynch related to the way the firm handled his account back in 2008.
Dead Brokerage Firm Still On The Hook For $9 Million To Former Clients
- Details Category: Registered Reps
FINRA is standing firm on its demand that failed broker-dealer CapWest pay $9 million in damages and fees, even though regulators confess that they are "not particularly hopeful."
More Articles ...
- Do FINRA and SEC Disclosures Drive You Nuts? Here's Your Chance To Let The SEC Know How To Fix It
- Massachusetts Regulators Suggest Disclosure For Advisors Whose Clients "Like" Them
- Religious-Themed Ponzi Schemes Still Preying On Investors
- No Supreme Court Ruling On Claims The NASD Lied To Create FINRA
