One firm avoided penalties as it proactively self-reported and took compliance action, according to the regulator.
Industry groups hail the move in the Pelican State as another win for consumers in need of lifetime income.
“Insurance is paramount in the broker-dealer industry, but you have to have insurance that pays,” a plaintiff's attorney said.
"I reiterate that I disagree with the allegations made in these suits," says Jim Walesa.
House Republicans passed legislation this week that would potentially tamp down on sustainable investing options within retirement plans.
Firm attempted to minimize losses in thousands of "odd lot" positions by executing unfavorable cross trades with retail mutual funds and third-party broker-dealers, according to the regulator.
“It’s a bit ironic individuals can use the money taken from investors to pay for lawyers to keep them out of jail,” says one executive.
Nine out of the 11 firms charged by the federal regulator have agreed to pay civil penalties related to Form 13F and Form 13H violations.
In reality, the firm managed less than $25 million, according to the SEC.
Many workers still don't participate in plans or contribute enough to their accounts, and a former DOL leader says she wishes IRAs were looped into the Employee Retirement Income Security Act.
The retail investing firm is scaling back its crypto offerings after allegedly crossing regulatory lines as an unregistered broker.
The Wall Street bank's main broker-dealer failed to adequately oversee reps who recommended losing short-term trades in closed-end funds, medium-term notes, and syndicate preferred stocks, according to Finra.
"There are many psychological factors that go into such a fraud,” attorney says.
"This is one of the largest emotional distress damages awarded in Finra’s history,” says attorney.
The SEC chair tells the financial services industry to be careful about describing artificial intelligence to clients and investors.
The regulator's marketing rule sweep found a raft of violations in the investment advisors' advertisements.
Firm agrees to pay six-figure penalty for its lack of compliance with anti-money laundering programs.
The general securities representative formerly with LPL had broken with firm policy by engaging with customers via the unapproved Chinese messaging platform.
The SEC and justice department are probing whether the firm, a subsidiary of Franklin Templeton, cherry-picked trades to favor certain clients.
"Monitoring officers incorrectly concluded, after only one minute, that there was no relationship between the customer and First Republic."
