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In January 2024, LPL Financial was fined $5.5 million by FINRA and ordered to pay over $650,000 in restitution to customers for several supervisory failures and sales violations. These issues included LPL allowing unsuitable trades and charging excessive fees without proper oversight. This is only the latest in a long line of regulatory actions against […]
When dealing with financial markets, the concept of “best execution” is paramount for broker-dealers and is mandated by regulatory authorities like the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This delves into the intricate details of the best execution obligation, examining its definition, practical application, various examples, and answering frequently […]
FINRA arbitration is a process used to resolve disputes in the securities industry, especially between investors and brokers. FINRA is an organization that monitors brokers and helps resolve disputes without needing to go to court. It is quicker and less expensive than a regular lawsuit. This makes it a popular choice for many people in […]
In the intricate world of financial services, receiving a request under FINRA Rule 8210 can be a significant concern for any registered representative. This rule empowers the Financial Industry Regulatory Authority (FINRA) to demand information, documents, or testimony from brokers or brokerage firms for its regulatory and oversight functions. This critical tool helps maintain the […]
Stock fraud happens when people use dishonest tactics in the stock market. They deceive investors or manipulate prices to make money for themselves. This is illegal and can have serious effects on both individual investors and the entire financial market. At its core, stock fraud usually involves lying, using inside information, or tricking investors in […]