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Bakhtiari & Harrison continues its thorough investigation into the sales practices of Mark Heiden, a broker with Wedbush, particularly scrutinizing his management of client accounts and the significant overconcentration of investments in energy-related stocks, including those recommended by Wedbush. The specific investments under review include: Energy XXI Bermuda Ltd. Clearbridge American Energy MLP Goldman Sachs […]
An AWC was issued in which Kimm was fined $5,000 and suspended from association with any FINRA member firm in all capacities for six months. In light of Kimm’s financial status, a lower fine was imposed. Without admitting or denying the findings, Kimm consented to the sanctions and to the entry of findings that he […]
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Raymond James Financial Services, Inc. $2 million for failing to maintain reasonably designed supervisory systems and procedures for reviewing email communications. In addition, Raymond James has agreed to conduct a risk-based retrospective review to detect potential violations evidenced in past emails. FINRA found […]
An AWC was issued in which the firm was censured and fined $250,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to supervise certain of its registered representatives to ensure their compliance with FINRA rules relating to outside business activities, private securities […]
An AWC was issued in which the firm was censured and fined $110,000. FINRA Issues AWC Concerning Wedbush Securities Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it engaged in trading unit aggregation but failed to ensure that individual traders were assigned to only […]