The settlement with the self-directed trading firm comes several weeks after FINRA's first enforcement action targeting firms' use of social media influencers.

Firm employees sent and received “thousands” of off-channel business-related messages during the time in question, according to the SEC.

The court ruling concludes a legal fight with the commission that started in 2019.

The firm settled similar charges in 2014.

Supporters and critics of the proposed rule are setting up discussions with the Office of Management and Budget, one of the last steps before the final rule will be revealed.

In one case, an unnamed broker stole over $100,000 from an elderly customer’s account.

The settlement follows a 2021 targeted exam looking into how firms work with social media influencers.

Buyer beware.

The commission accused Global Predictions and Delphia of “AI washing,” making misleading claims about how they each used artificial intelligence in managing investments.