Search Results for: Financial Industry Regulatory Authority
Day Trader Charged in Brokerage Account Takeover Scheme
October 31st, 2017
The Securities and Exchange Commission charged a day trader based in the Philadelphia area with participating in a scheme to access the brokerage accounts of more than 100 unwitting victims and make unauthorized trades to artificially affect the stock ...
Wells Fargo Broker-Dealers to Pay $3.4 Million
October 17th, 2017
The Financial Industry Regulatory Authority (FINRA) announced that it has ordered Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC to pay more than $3.4 million in restitution to affected customers for unsuitable recommendations of volatility-linked ...
Stock Market Analyst charged with insider trading
September 27th, 2017
The Securities and Exchange Commission charged a stock market analyst with insider trading prior to the publication of research reports and articles he authored with the false disclaimer that he wasn’t trading in the companies being covered. He agreed ...
CEO Charged With Using Secret Accounts for Insider Trading in Company Stock
September 21st, 2017
The Securities and Exchange Commission today charged the former CEO of a Silicon Valley-based fiber optics company with insider trading in company stock by using secret brokerage accounts held in the names of his wife and brother. The SEC ...
FINRA fines broker dealer $750,000
September 13th, 2017
FINRA Hearing Panel Fines C.L. King & Associates $750,000 for Negligent Misrepresentations and Omissions in Connection with Death Put Investments and AML-Related Violations The Financial Industry Regulatory Authority (FINRA) announced that a FINRA extended hearing panel censured Albany, NY-based ...
Stock manipulator has agreed to pay nearly $800,000
August 3rd, 2017
The Securities and Exchange Commission today announced that an overseas stock manipulator has agreed to pay nearly $800,000 and be permanently barred from involvement in penny stocks after hiding his significant stake in a small oil & gas company ...
Cold calling scams defrauded more than one hundred victims
July 13th, 2017
SEC Announces Charges in Massive Telemarketing Boiler Room Scheme Targeting Seniors The Securities and Exchange Commission today brought fraud charges against 13 individuals allegedly involved in two Long Island-based cold calling scams that bilked more than one hundred victims ...
Brokerage Firm Charged With Failing to Comply With Anti-Money Laundering Laws
June 6th, 2017
The Securities and Exchange Commission (SEC) has issued an announcement to inform that the Commission charges a Salt Lake City-based brokerage firm with securities law violations related to its alleged practice of clearing transactions for microcap stocks that were used ...
FINRA Bars Former Morgan Stanley Registered Representative
June 2nd, 2017
The Financial Industry Regulatory Authority (FINRA) announced today that it has barred former Morgan Stanley Smith Barney registered representative John Batista Bocchino for concealing approximately $190 million in Venezuelan bond trades from the firm, which had restricted such trading ...
FINRA Board approves proposals to strengthen controls on high-risk brokers
May 12th, 2017
The Financial Industry Regulatory Authority (FINRA) Board of Governors approved the next step in FINRA’s ongoing initiative to strengthen controls on brokers with a history of significant past misconduct and to ensure greater accountability for firms that choose to ...
