FINRA: ETF Trades from Representative Cost Customers $8.4 Million

By Steve Kardell | Published October 30, 2017 | Posted in Whistleblower Litigation | Tagged Tags: ETF Trades, FINRA, Inc., WFG Investments |

A former representative from WFG Investments, Inc., agreed to a court decision that he be barred from the securities industry as penalty for recommending trades in particularly risky, nontraditional exchange-traded funds (ETFs). These funds led to about $8.4 million in losses to customers. This settlement was filed by the Financial Industry Regulatory Authority (FINRA). According Read More

FINRA Changes Sanctions Guidelines on Several Key Issues

By Steve Kardell | Published July 27, 2017 | Posted in Fraud | Tagged Tags: FINRA, issuing penalties, new guidelines |

The Financial Industry Regulatory Authority (FINRA), a self-regulatory agency, has updated its sanctions guide to ensure in-house judges consider whether broker-dealers took advantage of elderly or vulnerable clients when making their rulings. The agency also expanded its guidance related to how judges should adjust penalties when sanctions have been imposed by other federal agencies, in Read More

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