Month: November 2015

Metlife Will Pay a “Significant Fine” to FINRA Over Variable Annuity Sales

By Erwin J. Shustak — posted in Financial Industry Developments on Tuesday, November 24, 2015.

MetLife, Inc., the largest U.S. life insurer, has disclosed that FINRA has indicated it will seek a “significant fine” from…

EX-Ameriprise Broker Sentenced to 7 Years in Prison for Stealing from Clients

By Erwin J. Shustak — posted in Investor Claims & Financial Fraud, Regulatory Enforcement & Investigations on Tuesday, November 24, 2015.

Financial Advisors Investment Fraud

Former Ameriprise broker, Susan Elizabeth Walker of Minnesota, has been sentenced to seven years in in prison for stealing $1…

Credit Suisse Brokers Who Do Not Transition to Wells Fargo Will Lose Deferred Compensation

By Erwin J. Shustak — posted in Financial Advisor & Broker Disputes on Tuesday, November 17, 2015.

Compensation Deferred Compensation Financial Advisors

Credit Suisse, like most brokerage firms, takes a portion of broker compensation and agrees to pay that compensation as “deferred…

SEC Increases Examinations of RIA Firms

By Erwin J. Shustak — posted in Investment Advisers & Private Funds on Monday, November 9, 2015.

Investment Advisers SEC

An increasing number of FINRA registered brokers, and smaller broker-dealers, have given up their FINRA licenses and moved to the…