failure to supervise
Tag Archive

• FINRA Examination Findings: Failure of Oversight in Firms

  

  December 14, 2018 Comments (0) Blog, Current Investigations

  FINRA Examination Findings: firms need to tighten up supervisory systems. Last Friday, the Financial Industry Regulatory Authority announced examination findings that many brokerage firms have been recommending unsuitable investments without considering the impact that cumulative fees, sales charges and commissions

  Read More »

• Purshe Kaplan Sterling Investments Fined $3.4 Million

  

  February 23, 2017 Comments (0) Current Investigations

  Financial Advisor Gopi Vungarala sells $190 million in non-traded REITs and BDCs to Native American Tribe According to FINRA, Purshe Kaplan Sterling Investments will pay close to $3.4 million in restitution to a Native American tribe. The tribe paid excessive sales charges on purchases of non-traded real estate

  Read More »

• Source Capital Group Pays $1.25 Million for Failure to Supervise

  

  February 7, 2017 Comments (0) Blog

  Elderly Investors Win FINRA Arbitration Award from Source Capital Group According to Investment News, Source Capital Group, a Connecticut investment bank must pay $1.25 million for alleged sale of unsuitable securities to elderly investors in a recent FINRA award. Retirees Keith and Joyce McCrea, and William Lashlee,

  Read More »

• NFA revokes registration of several associated persons of former Boca Raton futures firm

  June 6, 2011 Comments (0) Blog, Securities Fraud

  National Futures Association (NFA) has revoked the registrations of Jeremy J. Grena, Nabil P. Niman, Nicholas P. Payne, William M. Rill and Alexander M. Silverman, former associated persons (AP) of Pioneer Commodities LLC (Pioneer) and Windsor Wealth Management LLC, firms based in Boca Raton, Florida. A designated

  Read More »

• FINRA Fines Atlanta based broker-dealer SunTrust Investment Services

  October 6, 2010 Comments (0) Blog, Securities Fraud

  FINRA recently today that it has ordered SunTrust Investment Services, Inc. of Atlanta, GA, to pay $1.44 million to resolve charges related to unsuitable unit investment trust (UIT), closed-end fund (CEF) and mutual fund transactions. Of that amount, $900,000 is a fine that includes nearly $224,000 in disgorgement of

  Read More »

• Former Birkelbach Investment Securities Financial Advisor William James Murphy Barred From Securities Industry

  September 9, 2010 Comments (0) Blog, Securities Fraud

  FINRA recently issued a regulatory decision wherein William James Murphy was fined $591,933.67 as disgorgement of commissions and barred from association with any FINRA member in any capacity. The sanctions were based on findings that Murphy exercised discretion in clients’ accounts without the customers’ or his

  Read More »