Enforcement

A clear message went to private equity fund advisers this week: Keep your organizational docs current and be sure to inform your LPs of your ...

Eric Erb admits he was “tormented with shame and grief,” which drove him last year to direct his lawyer to confess his crime to authorities. ...

Remember that carrot FINRA dangled for self-reporting mutual fund sales over-charges? Some of your peers apparently didn’t. They got the stick.   FINRA made it ...

Eight months after launching the initiative, FINRA’s new consolidated enforcement group is beginning to take shape, holding its first meeting and mapping an ambitious agenda ...

It’s not a good sign when an adviser’s employee discovers he’s the firm’s CCO by reading its Form ADV.   But that’s how Richard Tomney ...

The headline suggested a textbook case of elder financial abuse: Broker makes fraudulent misrepresentations to collect $70,000 in fees from a couple of 90-something clients. ...

Long before the me-too movement, former broker-dealer Blackbook Capital fired Ahmed Gadelkareem for repeatedly “threatening and abusive interaction with female employees.”   The story begins ...

An appeals court has followed the instruction of the U.S. Supreme Court and severely reduced an adviser’s fine for ripping off clients so as to ...

The confusing custody rule may seem even more opaque after hearing about the $60,000 fine assessed against Financial Fiduciaries ($141M in AUM) in Wausau, Wis., ...

At FINRA, fraud is top of mind, judging by the SRO’s 2018 annual priorities letter (BD Watch, Jan. 11, 2018). But that covers a multitude ...