FINRA Wants Barred Brokers Out of Insurance Too

January 26, 2016

FINRA is trying to keep banned registered securities representatives, or brokers, from using a loophole that lets them continue selling financial products to members of the public as authorized insurance agents, The Wall Street Journal reports. FINRA – the U.S. securities industry’s self-regulatory agency – will “begin providing to state insurance regulators a monthly report … Continue reading “FINRA Wants Barred Brokers Out of Insurance Too”

SEC Announces Charges Against Standard & Poor’s for Fraudulent Ratings Misconduct

January 26, 2016

On January 21, 2015, the Securities and Exchange Commission announced a series of federal securities law violations by Standard & Poor’s Ratings Services involving fraudulent misconduct in its ratings of certain commercial mortgage-backed securities (CMBS). S&P agreed to pay more than $58 million to settle the SEC’s charges, plus an additional $19 million to settle … Continue reading “SEC Announces Charges Against Standard & Poor’s for Fraudulent Ratings Misconduct”

SEC Investigating Several Companies Over Whistleblower Treatment

January 26, 2016

The U.S. Securities and Exchange Commission has sent letters to several companies asking for years of nondisclosure agreements, employment contracts and other documents to investigate whether companies are muzzling corporate whistleblowers, the Wall Street Journal reported. The inquiries come as SEC officials have expressed concern about a possible corporate backlash against whistleblowers, the newspaper said. … Continue reading “SEC Investigating Several Companies Over Whistleblower Treatment”

SEC Charges Texas-Based Brokerage Firm With Violating Supervisory and Customer Protection Rules

January 26, 2016

The Securities and Exchange Commission recently charged an Irving, Texas-based brokerage firm with violating key customer protection rules after failing to adequately supervise registered representatives who misappropriated customer funds. H.D. Vest Investment Securities agreed to settle the charges by paying a financial penalty and retaining an independent compliance consultant to improve its supervisory controls. According … Continue reading “SEC Charges Texas-Based Brokerage Firm With Violating Supervisory and Customer Protection Rules”

FINRA Settles Matter Against Registered Representative For Failing to Timely Amend his Form U4 to Disclose Misdemeanor Charge, State and Federal Tax Liens, and Civil Judgment

January 26, 2016

FINRA settled a matter involving a registered representative who failed to timely amend his Form U4 to disclose a misdemeanor charge, state tax lien, federal tax lien and civil judgment. In June 2009, the Commonwealth of Pennsylvania’s Department of lnsurance filed a criminal charge against the representative in the Court of Common Pleas of Montgomery … Continue reading “FINRA Settles Matter Against Registered Representative For Failing to Timely Amend his Form U4 to Disclose Misdemeanor Charge, State and Federal Tax Liens, and Civil Judgment”

Page 5 of 8« First...34567...Last »