An AWC was issued in which Sweeney was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Sweeney consented to the sanction and to the entry of findings that he made material misrepresentations and omitted material information in an unsuitable recommendation 14 Disciplinary and Other FINRA Actions July […]
An AWC was issued in which the firm was censured, fined $25,000 and required to provide a written certification to FINRA that its systems, policies and procedures, with respect to each of the areas and activities cited in the AWC, are reasonably Disciplinary and Other FINRA Actions 3 July 2018 designed to achieve compliance with […]
A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured and fined $40,000. Mauceli was fined $5,000 and suspended from association with any FINRA® member in any principal capacity for four months. Without admitting or denying the findings, the firm and Mauceli consented to the sanctions and to the […]
Laverty was named a respondent in a FINRA complaint alleging that that during consecutive associations with several member firms, he borrowed $1,350,000 from an elderly married couple in violation of each firm’s policies. The complaint alleges that three of the firms prohibited their representatives from borrowing money from their customers. Although a firm permitted loans […]
The Financial Industry Regulatory Authority (FINRA) announced today it has fined Fifth Third Securities, Inc., $4 million and required the firm to pay approximately $2 million in restitution to customers for failing to appropriately consider and accurately describe the costs and benefits of variable annuity (VA) exchanges, and for recommending exchanges without a reasonable basis […]