According to the Investment News, the following are the top broker-dealers (ranked by reps producing over $100,000): Click column headers to sort fields Rank Broker-dealer No. of reps 1 LPL Financial* 5432 • Associated Securities Corp. 121 • Mutual Service Corp. 547 • Waterstone Financial Group 275 2 AIG Advisor Group 2782 • AIG Financial [...]
In or about 2009, FINRA fined 25 broker-dealers a total of $2,145,000 for failures related to their completion of FINRA’s (then NASD’s) firm self-assessment of mutual fund breakpoint discount compliance. The self-assessment required firms that sold front-end load mutual funds to review their compliance in providing breakpoint discounts to customers during 2001 and 2002 and [...]
FINRA recently announced that Dana Reece Anderson, formerly of Intersecurities, Inc. in Waterloo, Iowa, has been censured and barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Dana Anderson consented to entry of findings that he forged a customer’s signature and initials to his firm’s documents (Intersecurities) to [...]