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FINRA Orders Stifel to Pay $3.6 Million for Alleged Unit Investment...

The Financial Industry Regulatory Authority has ordered Stifel, Nicolaus & Company, Incorporated to pay approximately $1.9 million in restitution, plus interest, to more than...

FINRA Amends Rules to Incentivize Payment of Arbitration Awards

The Financial Industry Regulatory Authority has amended its Membership Application Program (MAP) rules to incentivize the timely payment of arbitration awards by preventing a...

Hearing Panel Rejects FINRA Allegations Against Shopoff Securities and Officers

In a decision delivered yesterday, a three-person Financial Industry Regulatory Authority hearing panel dismissed fraud charges leveled by the agency’s Department of Enforcement against...

FINRA Fines Merrill Lynch for Allowing Unregistered Executive to Act as...

The Financial Industry Regulatory Authority has censured and fined Merrill Lynch $150,000 for purportedly allowing an executive with its non-FINRA member affiliate to function...

FINRA Suspends and Fines Former LPL Broker for Improper REIT Sales

The Financial Industry Regulatory Authority has suspended former LPL broker, Donald S. Woods, for six months and issued a $10,000 fine for improper sales...

FINRA Warns of Fake Phishing Emails Purporting to be from FINRA...

The Financial Industry Regulatory Authority has warned member firms of a widespread, ongoing phishing campaign that involves fraudulent emails purporting to be from FINRA...

FINRA Fines Kestra for Violating Customer Privacy

The Financial Industry Regulatory Authority has censured and fined Kestra Investment Services $125,000 for purportedly helping certain recruited brokers take nonpublic personal customer information...

FINRA Postpones All In-Person Arbitration and Mediation Hearings

The Financial Industry Regulatory Authority has postponed all in-person arbitration and mediation proceedings scheduled through July 3, 2020 in response to the coronavirus (COVID-19)...

New Jersey Extends State Fiduciary Rule Finalization Amid Pandemic

New Jersey Governor Phil Murphy has signed an executive order to extend various deadlines associated with rulemaking for state agencies, including its proposed fiduciary...

FINRA Suspends and Fines Former LPL Rep for Borrowing $1.3 Million...

The Financial Industry Regulatory Authority has suspended and fined former LPL broker, Mark Lamkin, for allegedly borrowing money from a longtime friend who was...