Much of the industry's involvement may be outside the SRO's perimeter
Retirees duped by fake investment for almost a decade, SRO finds
Clients lost more than $1.5 million on rep's failed fintech venture
Ban, fine of $300K follow repeat episode of unapproved outside business activity
Ex-NBF rep admitted to misappropriating clients' funds, as well as other violations
Panel concluded that rep was participating in proceeding anonymously
Real estate deals, outside businesses and exempt market sales violated MFDA rules, panel found
Proposals would focus outside activity reporting, curb duplicate filings and enhance business title reporting
Unclear rules could deter registered individuals from actively contributing to their communities
Outside and private dealings lead to $150,000 fine