Firm failed to make independent research available to customers
Investors get more than US$5 million in remediation
Increased collaboration will benefit investors
BetaPro report aims to eliminate confusion over leveraged ETFs
Firms pay total of US$1.4 million
U.S. securities regulators have charged several brokers with fraud for selling collateralized mortgage obligations (CMOs) as securities suitable for risk-averse investors.The U.S. Securities and Exchange Commission filed a complaint in federal district court in West Palm Beach, Fla., alleging that 10 brokers who worked for now-defunct Brookstreet Securities Corp. did not clearly define the risks […]
Settlements include total fines of US$850,000
The U.S. Financial Industry Regulatory Authority is proposing to expand its broker database to make the records of final regulatory actions against brokers permanently available to the public, regardless of whether they continue to be employed in the securities industry, FINRA said Monday.Under current rules, a broker’s record generally becomes unavailable to the public two […]
The Financial Industry Regulatory Authority announced that it has fined Morgan Stanley & Co. US$3 million — and ordered it to pay more than US$4.2 million in restitution to 90 retirees – to resolve charges that its supervisory system failed to detect and prevent brokers from persuading workers to take early retirement based upon unrealistic […]
The Financial Industry Regulatory Authority announced that it has fined 25 broker-dealers a total of US$2,145,000 for failures related to their completion of FINRA’s self-assessment of mutual fund breakpoint discount compliance.The self-assessment required firms that sold front-end load mutual funds to review their compliance in providing breakpoint discounts to customers during 2001 and 2002 and […]