Failure to supervise

Frontier Wealth's reps failed to reasonably assess whether investments in a complex product were suitable for clients

Instead of monitoring compliance with Integral’s customer-specific suitability WSPs, Ho merely directed the Integral RRs to have the Customers sign the firm’s standard risk disclosure ...

Another HJS RR recommended the purchase of over $49,000 in VRSPs to an 87-year-old customer with a moderate risk tolerance, an investment objective of income, ...

Hilltop failed reasonably to supervise the municipal securities activities of its registered representative to ensure compliance with MSRB rules and the federal securities laws. As ...

Reps made buy recommendations for inverse ETFs without regard for suitability

Proceeding in contravention of your own WSPs can prove costly

Compliance personnel recommended moving the FuelCell account to another trading desk to take advantage of that desk’s “newly built execution protocols for issuer stock sales.” ...

B-Ds supervisory systems and WSPs will be examined

Merely reciting the applicable rules heads the list

Investment advisers and broker-dealers should take extra steps to make sure they’re validating investors’ identities and the authenticity of disbursement instructions, and have “a trusted ...