Bank of America's brokerage unit admits wrongdoing in unprecedented <a href="http://www.investmentnews.com/article/20160623/FREE/160629959/merrill-lynch-to-pay-415m-to-settle-sec-charges-it-misused-customer">$415M consumer protection settlement </a> with SEC; slapped with two other fines the same day.
Richard William Lunn Martin improperly recommended non-traditional ETFs while warning of economic collapse, Finra said
The wealth manager overbilled for investments in REITs and BDCs
In responses to charges it misused customer cash, the wirehouse agreed to the payment and to admit wrongdoing in violations of the customer protection rule.
The Pohlen Terris and Kasper Group joined the Minnesota office.
MetLife is the second major insurer to exit the brokerage business, in the sale of its adviser unit to MassMutual. Mergers may be on the rise due to the Labor Department's proposed fiduciary rule.
Peter Neuberg agreed to a six-month suspension and $15,000 fine.
Mr. Thibeault solicited investors to a fund that reported fake consumer loans.
Large, medium and small firms are all on the radar of the SEC and Finra.
Managed account assets rose 3% to a record $361 billion, CFO Kirt Gardner said on Tuesday's earnings call
