IFAwebnews » FINRA

Raymond James’ units to pay $2.1 million over excessive commissions

Bob Graham — Thu, 29 Sep 2011 16:13:13 +0000

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.

Raymond James’ units to pay $2.1 million over excessive commissions via IFAwebnews.

FINRA warns of desperate investors ‘chasing returns’ at own peril

Jaime L. Brockway — Thu, 28 Jul 2011 17:40:02 +0000

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.

FINRA warns of desperate investors ‘chasing returns’ at own peril via IFAwebnews.

Va. man qualifies for sales incentives by misappropriating funds

Bob Graham — Fri, 18 Feb 2011 13:44:07 +0000

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.

Va. man qualifies for sales incentives by misappropriating funds via IFAwebnews.

Man fined $10,000 for helping relative improperly sell annuity

Bob Graham — Mon, 14 Feb 2011 16:27:54 +0000

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.

Man fined $10,000 for helping relative improperly sell annuity via IFAwebnews.

Maryland, D.C. actions by FINRA

Bob Graham — Fri, 21 Jan 2011 10:22:25 +0000

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

Maryland, D.C. actions by FINRA via IFAwebnews.

FINRA bars N.J. woman for taking $18,000 from supervisors’ account

Bob Graham — Fri, 07 Jan 2011 10:51:59 +0000

A Livingston, N.J., woman was barred by the Financial Industry Regulatory Authority (FINRA) for taking about $18,000 from her supervisors’ account to pay for personal expenses.

FINRA bars N.J. woman for taking $18,000 from supervisors’ account via IFAwebnews.

Kansas woman used part of annual premium payments to finance office

Bob Graham — Thu, 06 Jan 2011 10:54:52 +0000

The Financial Industry Regulatory Authority (FINRA) barred an Independence, Kan., woman after finding she kept part of annual insurance premiums payments.

Kansas woman used part of annual premium payments to finance office via IFAwebnews.

Texas firm, former executives barred for overcharging elderly

Bob Graham — Wed, 29 Dec 2010 17:58:30 +0000

The Financial Industry Regulatory Authority (FINRA) has expelled an Austin, Texas, corporation, barred its former president and a former broker at the firm for a scheme that overcharged an elderly investor by $1.2 million.

Texas firm, former executives barred for overcharging elderly via IFAwebnews.

Maryland insurance regulators act on agent, carrier infractions

Bob Graham — Mon, 27 Dec 2010 10:51:10 +0000

The Maryland Insurance Administration recently reported the following cases, which are summarized based on information obtained from the agency.

Maryland insurance regulators act on agent, carrier infractions via IFAwebnews.

Woman fined for accessing study materials during Series 6 exam break

Bob Graham — Thu, 02 Dec 2010 10:47:55 +0000

The Financial Industry Regulatory Authority fined a Tampa, Fla., woman $5,000 for accessing study materials from her locker during a Series 6 exam break.

Woman fined for accessing study materials during Series 6 exam break via IFAwebnews.