Michael Shillin misled clients into thinking he was buying pre-IPO stocks in high-profile companies and long-term care policies on their behalf, but it was all a ruse, according to the DOJ.
As firms scramble to stay off FINRA’s new 'leper list' of broker/dealers with histories of misconduct, some say smaller businesses and reps with only minor regulatory blemishes are being unduly tarnished.
The unnamed rep recommended more than $2.1 million trades in certain mutual funds shares more appropriate for long-term use, according to FINRA, and Kovack Securities allegedly failed to spot the red flags.
It may feel a little awkward in the moment, but your future self and team will thank you.
There is a “value” to the work an advisor does, regardless of whether they are an employee or independent, that needs to be a part of the conversation when considering one’s future.
A lesser-discussed aspect of the new SEC marketing rule reignites an old debate—how can an advisor tout their own investment track record after leaving a firm?
Did a now-defunct IBD avoid FINRA financial judgments by transferring brokers and clients to another firm? Both PIABA and the FSI are weighing in on a case currently brewing in Georgia's federal appeals court.
