A consulting group found that FINRA’s estimate of the cost to create and manage a self-regulatory organization (SRO) for investment advisors (IA) underestimates overhead costs and overestimates IA examiner productivity.

A financial professional from Portsmouth, Va., was recently fined $5,000 and suspended from FINRA for six month after borrowing money from a customer, according to FINRA records.

Three stockbrokers for Brill Securities in New York have won an appeal, freeing them from being forced to arbitrate a suit over overtime pay.

A registered representative from Moorestown, N.J., was fined $5,000 after he was found to have improperly handled disability insurance applications.

An insurance broker won $3.25 million from its former employer, Questar Capital Corp., after a financial arbitration panel found the firm guilty of defamation and breach of contract.

Raymond James & Associates and Raymond James Financial Services agreed to pay restitution of $1.69 million after the Financial Industry Regulatory Authority found it charged unfair and unreasonable commissions.

Investors should stop “chasing returns” and remember to be careful when dealing with riskier, complex products that promise higher returns than traditional investments, a financial authority warns.

A Herndon, Va., man was barred by the Financial Industry Regulatory Authority (FINRA) after he misappropriated more than $8,500 in customers’ funds to qualify for a sales incentive program.

A Rosemount, Minn., man was fined $10,000 and suspended by the Financial Industry Regulatory Authority for three months after he helped a relative to improperly sell a fixed and variable annuity.

The following case summaries are based on information obtained from the Financial Industry Regulatory Authority (FINRA).