News & Updates

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SEC Enforcement Chief Gurbir Grewal to Step Down After Leading Major Cra...

Gurbir Grewal, Director of Enforcement at the U.S. Securities and Exchange Commission (SEC), is stepping down after playing a central...

SEC Updates Regulation S-P to Enhance Customer Data Protection

The SEC has introduced long-awaited updates to Regulation S-P, originally adopted in 2000, to improve the protection of customer reco...

FINRA Fines Newbridge Securities $125,000 for AML Failures and Unsuitabl...

Newbridge Securities Corporation has been fined $125,000 and censured by the Financial Industry Regulatory Authority (FINRA) for inad...

SEC Charges Two South Florida Men for Defrauding Venezuelan-American Inv...

The Securities and Exchange Commission (SEC) has filed a complaint against two South Florida men, Francisco Javier Malave Hernandez and Ricardo ...

California Advisor Suspended and Fined for Churning Client Accounts

A veteran advisor in Santa Maria, California, Stewart "Paxton" Ginn, has been suspended for 18 months and fined $50,000 by FINRA, according to <...

Bank of America and Merrill Lynch Settle with FINRA for Supervisory Fail...

Bank of America and its subsidiary, Merrill Lynch, have agreed to a $3 million fine and censure as part of a settlement with FINRA over long-ter...

UBS Faces Class Action Lawsuit Over Cash Sweep Programs

UBS has been hit with a class action lawsuit over its cash sweep programs, joining other major firms like LPL, Wells Fargo, and Ameriprise, whic...

Former Army Financial Counselor Sentenced for Defrauding Gold Star Families

A former U.S. Army financial counselor, Caz Craffy, also known as “Carz Craffey”, was sentenced to 151 months in prison for defraudi...

FINRA Sanctions Supervisor for Failing to Address Excessive Trading Red ...

FINRA has acted against an Independent Financial Group (IFG) supervisor for failing to respond to red flags involving excessive trading in five ...

CFP Board Revises Sanction Guidelines and Fitness Standards

The CFP Board has finalized revisions to its Sanction Guidelines and Fitness Standards.

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Hightower Drops Claims Against Former Advisor Amid Non-Compete Dispute

Hightower, a Chicago-based RIA firm, recently dropped its lawsuit against former advisor Lars Knudsen just days before a federal judge in Illino...

Osaic Services Fined $250,000 for Supervisory Failures in Options Trading

Osaic Services, formerly SagePoint Financial, recently agreed to pay a $250,000 fine and accept censure for failures in supervising excessive an...

Wahed Invest Settles SEC Charges Over Undisclosed Endorsements and Ad Ru...

The SEC recently settled charges with Wahed Invest, a faith-based robo-advisor that markets itself to Muslim clients, over violations of the SEC...

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