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Equitable Financial to Pay $50 Million to Settle SEC’s Fraud Charges

The Securities and Exchange Commission has charged Equitable Financial Life Insurance Company with fraud after the company allegedly provided account statements to roughly 1.4...

FINRA Suspends Two Former Transamerica Reps for Designating Themselves as VA...

The Financial Industry Regulatory Authority has fined and suspended former Transamerica registered representatives, Wenru Liang and Jenny Xinfang Feng, who were both accused of...

FINRA Bars Broker for Forging Customer Signatures on VA Policy Documents

The Financial Industry Regulatory Authority has barred Cristina Sabengsy, formerly with NYLIFE Securities LLC, for allegedly forging customer signatures on insurance and variable annuity...

SEC Bars Longtime MetLife Broker for Stealing from Clients’ Insurance Policies

The Securities and Exchange Commission has barred longtime Metlife Securities broker Kwen Y. Chun after he was found guilty of taking out loans against...

SEC Bars Longtime Transamerica Broker for Stealing

The Securities and Exchange Commission has barred Pedro Gonzalez-Seijo, a broker formerly affiliated with Transamerica Financial Advisors Inc., after he pled guilty to bank...

FINRA Fines Woodbury $225,000 Over Variable Annuity Supervision Issues

The Financial Industry Regulatory Authority has fined Woodbury Financial Services, an independent broker-dealer in the Advisor Group network, for not having a system in...

Massachusetts Regulator Fines Infinex for Improper VA and REIT Sales

The Massachusetts Securities Division, led by Secretary of the Commonwealth William Galvin, has fined broker-dealer Infinex Investments Inc. for failing to supervise agents who...

FINRA Bars Broker for Fraudulent Variable Annuity Exchange, Falsifying Documents

The Financial Industry Regulatory Authority has barred a former Navy Federal Brokerage Services advisor for allegedly engaging in securities fraud, making unsuitable recommendations, and...

FINRA Fines Fifth Third Securities $4 Million for Unsuitable Variable Annuity...

The Financial Industry Regulatory Authority Inc. has fined Fifth Third Securities Inc. $4 million and required the firm to pay approximately $2 million in...