The Practice: Regulatory/legal issues

Ex-Wells Fargo Broker Suspended Over Allegedly Unauthorized Trading

October 22, 2019No Comments

The man allegedly placed orders in a client’s account without knowing that the client had died three days prior.

Legal Tussle Between Ex-Morgan Stanley Broker and Finra Ends in Bar for Ami Forte

October 22, 2019No Comments

Barred broker’s lawyer puts Finra to task for giving Morgan Stanley a “free pass” and not sanctioning it for the alleged wrongdoing of other employees.

Does the SEC’s Form CRS Miss the Point of Disclosures?

October 22, 2019No Comments

The form should be alerting investors about why they need to be asking about conflicts of interest and fees, not just drawing attention to them.

Investor Asks Judge to Toss Merrill Lynch Counter-Suit Against Him

October 22, 20192 Comment(s)Last Comment: October 22, 2019

The wirehouse claims the investor made misrepresentations when buying a 529 plan.

What Finra is Looking for When Probing Best Execution

October 21, 2019No Comments

The investigations are largely focused on the impact of best execution on customers.

Ex-Regulator Predicts Ken Fisher's Critics Will Forget; Fisher's Son Hopes People Understand Dad Meant No Harm

October 18, 20193 Comment(s)Last Comment: October 18, 2019

Finra's former enforcement boss doesn't think the episode will have a lasting impact.

Former Broker Barred Over Alleged Excessive Trading

October 18, 2019No Comments

Daniel Maughan was previously discharged by Merrill Lynch in 2001 over allegations of entering client orders without prior consent.

Capitol Hill Demands SEC Test Reg BI Investor Disclosures

October 18, 2019No Comments

The bill would also require the regulator to test existing disclosures.

Ex-Raymond James FA Ordered to Pay Firm Close to $1 Million

October 17, 2019No Comments

A Finra arbitration panel has ruled the former advisor breached his loan terms agreement.

What Firms and Brokers are Doing Wrong: Finra Releases 2019 Exam Findings Report

October 17, 2019No Comments

Report reveals issues with sales practice and supervision, firm operations, market integrity and financial management.