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Osaic Advisor Fined and Suspended for Submitting False Bank Statements

November 25th, 2024 at 2:13 PM
AdvisorHub recently reported that the Financial Industry Regulatory Authority (FINRA) has imposed a $5,000 fine and a two-month suspension on Kalomira Zangoulos, a former Osaic advisor in Sterling Heights, Michigan.
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B. Riley Sells Employee Wealth Management Group to Stifel

November 22nd, 2024 at 2:11 PM
B. Riley Financial Inc. has announced the sale of part of its employee wealth management division to Stifel Financial Corp. 
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SEC Fines New Jersey Brokerage and RIA Firms $240,000 for Impending Client Reporting

November 21st, 2024 at 1:17 PM
The Securities and Exchange Commission (SEC) has fined Nationwide Planning Associates, a New Jersey-based independent brokerage, and two affiliated registered investment advisory firms, NPA Asset Management and Blue Point Strategic Wealth, $240,000. 
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Hightower Drops Claims Against Former Advisor Amid Non-Compete Dispute

November 20th, 2024 at 3:58 PM
Hightower, a Chicago-based RIA firm, recently dropped its lawsuit against former advisor Lars Knudsen just days before a federal judge in Illinois was set to rule on the firm’s injunction request.
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Osaic Services Fined $250,000 for Supervisory Failures in Options Trading

November 19th, 2024 at 1:39 PM
Osaic Services, formerly SagePoint Financial, recently agreed to pay a $250,000 fine and accept censure for failures in supervising excessive and unsuitable options trading from June 2018 to August 2019.
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Wahed Invest Settles SEC Charges Over Undisclosed Endorsements and Ad Rule Violations

November 18th, 2024 at 3:47 PM
The SEC recently settled charges with Wahed Invest, a faith-based robo-advisor that markets itself to Muslim clients, over violations of the SEC’s marketing rule.
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FINRA Arbitrators Award Former RBC Advisor $9.7 Million in Gender and Age Discrimination Case

November 15th, 2024 at 2:20 PM
FINRA arbitrators recently awarded a former RBC Wealth Management advisor nearly $9.7 million in damages for age and gender discrimination claims. 
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SIFMA Challenges CFP Board

November 14th, 2024 at 10:46 AM
According to InvestmentNews, the Securities Industry and Financial Markets Association (SIFMA) released a whitepaper criticizing the Certified Financial Planner (CFP) Board’s standards enforcement, asserting it operates as a “de facto, privateregulator.” 
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FINRA Bars Fromer Merrill Lynch Advisor Over Relationship with Elderly Client

November 13th, 2024 at 10:23 AM
The Financial Industry Regulatory Authority (FINRA) has barred Imdadur “Gino” Rahman, a former Merrill Lynch advisor for multiple compliance violations involving his relationship with an elderly client.
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Kentucky Advisor Fined and Suspended for Undisclosed Bourbon-Tasting Business

November 12th, 2024 at 2:25 PM
A Kentucky-based financial advisor accepted a $5,000 fine and a two-month suspension for operating a bourbon-tasting business without notifying his employer, Edward Jones, as required by FINRA rules.
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LATEST NEWS AND ARTICLES

November 4, 2025
FINRA Suspends Former Morgan Stanley Advisor Over $180,000 in Improper Transfers

The Financial Industry Regulatory Authority (FINRA) suspended former Morgan Stanley advisor C.J. Kline for two years and imposed a $5,000 fine for allegedly executing more than $180,000 in improper fund transfers between his personal and brokerage accounts.

November 3, 2025
Former Florida Broker Pleads Guilty in $2.7 Million Investment Fraud and PPP Loan Scheme

Former Florida broker Jared Dean Eakes, 34, of Jacksonville, has pleaded guilty to wire and bank fraud in connection with a $2.7 million investment scam and a separate scheme involving over $4.75 million in fraudulent Paycheck Protection Program (PPP) loans, according to U.S. Attorney Gregory W. Kehoe for the Middle District of Florida.

October 31, 2025
Department of Labor Sued Over Illegitimate Deferred Compensation Opinion Letter

Three former Morgan Stanley advisors filed suit this week against the U.S. Department of Labor (DOL), claiming the agency exceeded its authority and was unduly influenced when it issued an advisory opinion that sought to undermine their deferred compensation claims.