Blog
Search Our Blog
It’s the Culture, Stupid: Additional Observations on Finra’s 2016 BD Guidance
By Paris Novinni of Shustak Reynolds & Partners, P.C. posted on Monday, January 11, 2016.
As we posted last week, FINRA has just published its 11th annual Regulatory and Examination Priorities Letter addressing emerging and existing risks that could have potentially adverse effects on investors and market integrity in 2016 […] Read More
FINRA Regulation to Scrutinize Firm Cultures in 2016
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, January 8, 2016.
The Financial Industry Regulatory Authority (“FINRA”) announced this week it will more formally scrutinize how brokerage firm’s culture affects compliance risk management practices […] Read More
Wells Fargo Adviser Charged in $13 Million "Pump and Dump" Scheme
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, January 8, 2016.
The Securities and Exchange Commission (“SEC”) charged Wells Fargo adviser Donald Toomer with helping a client operate a $13 million “pump and dump” scheme […] Read More
J.P. Morgan Misled Clients On Broker Compensation
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, January 4, 2016.
J.P. Morgan Securities agreed to pay $4 million to settle charges by the SEC that it mislead clients about how its brokers were compensated, according to the SEC […] Read More
Cantor Fitzgerald to Pay $7.3 Million for Selling Unregistered Stock
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, January 4, 2016.
The Financial Industry Regulatory Authority FINRA ordered investment bank Cantor Fitzgerald & Co. to pay $7.3 million in sanctions for allegedly selling billions of unregistered microcap shares […] Read More
Cetera Advisers Consider Leaving in Light of RCS Capital Woes
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Wednesday, December 30, 2015.
As Cetera Financial Group’s parent, RCS Capital, implodes under the weight of accounting irregularities and increasing regulatory scrutiny, many Cetera advisors are considering whether to stay the course or jump ship […] Read More
LPL Cuts Workforce and Delays Raises for Employees
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Wednesday, December 30, 2015.
LPL Financial announced this week it was doing more belt-tightening and has eliminated 70 jobs […] Read More
Comprehensive Asset Management Agrees to Pay $475K Fine for Annuity Abuse Charges
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, December 28, 2015.
New Jersey based Comprehensive Asset Management and Servicing, Inc. has agreed to pay FINRA a $475,000 fine to settle allegations that the firm failed to […] Read More
Fidelity Hit With $1 Million Fine for Failing to Detect Fraud Against Seniors
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Thursday, December 24, 2015.
This week FINRA hit the retail brokerage arm of Fidelity Investments with a $1 million fine and sanction for failing to detect and protect is clients, mostly seniors […] Read More
Credit Suisse Sues UBS for Raiding it's Brokers
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Tuesday, December 22, 2015.
As we reported previously, Credit Suisse has decided to exit the retail U.S. brokerage market and has been in discussions with Wells Fargo to transition Credit Suisse brokers to Wells Fargo where they can have access to […] Read More