MSSB Bans Leveraged ETF Sales
Morgan Stanley Smith Barney (MSSB) became the latest wirehouse to put its foot down on exchange-traded funds (ETFs).
Tag: FINRA
Ameritas Broker Suspended for Misleading Customers
The Financial Industry Regulatory Authority (FINRA) has fined Ameritas Investment Corp. $100,000 and suspended and fined one of its brokers for inducing customers to take on additional home...
FINRA Fines Merrill, UBS Related to Closed-End Funds Sales
The Financial Industry Regulatory Authority (FINRA) said it has fined Merrill Lynch, Pierce, Fenner & Smith, Inc. and UBS, as well as some Merrill brokers, for supervisory failures...
FINRA Bars Broker for Operating Ponzi Scheme
As part of an ongoing investigation, the Financial Industry Regulatory Authority (FINRA) has permanently barred a former registered representative with AXA Advisors, LLC, for conducting a Ponzi scheme.
FINRA Nails Broker-Dealers for Sales to Elderly
The Financial Industry Regulatory Authority (FINRA) said it fined five bank broker/dealers a total of $1.65 million for deficient supervision and procedures related to variable annuity (VA), mutual...
FINRA Fines Wachovia $1.4 Million for Prospectus Delivery
The Financial Industry Regulatory Authority (FINRA) is pegging a $1.4 million fine on Wachovia Securities for its failure to deliver prospectuses and product descriptions to customers who purchased...
Pennsylvania Securities Commission Urges Adviser Background Checks
The Pennsylvania Securities Commission (PSC) said it offers background information of brokers and investment advisers for consumers.
FINRA Unveils Tools to Spot Scams
The Financial Industry Regulatory Authority (FINRA) released two online tools designed to help investors spot and resist investment fraud, the agency said.
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The World Turned Upside Down
The current turmoil threatens broker/dealers as more advisers think about going independent—when the market improves