In a complaint filed Thursday, Attorney General Xavier Becerra's office said 'AwesomeCalls' gave out stock tips for years to members without being registered at the state or federal level.
FINRA-regulated firms say the industry is prepared to conduct proper supervision virtually on a permanent basis after the pandemic ends; state securities regulators and others worry about what could slip through the...
Steven Pagartanis was sentenced to more than 14 years in prison for his role in the scheme, according to the Justice Department. FINRA had previously barred the Long Island–based advisor from the industry.
Last November, James Booth was sentenced to 42 months in prison for conducting a Ponzi-like scheme on investors and was ordered to pay nearly $5 million.
The regulatory agency claimed Scott Wayne Reed failed to get approval from Wells Fargo when soliciting clients to invest in a software company he himself was invested in.
New enforcement head Tom Sporkin and his team now oversee the detection, investigation and prosecution of alleged violations, while another team will handle the adjudication, a move that mirrors the workflow at the...
The Biden administration announced last week the fiduciary exemption would take effect as scheduled, but legal experts argue the rule has some serious teeth that will impact client relationships with advisors and...