Former Ameriprise broker Jeffery Joseph Kelly has been sanctioned by the Financial Industry Regulatory Authority for failing to cooperate with an investigation by the regulator into allegations of unethical conduct. Kelly was terminated by...
Brokerage Firm Massachusetts Financial Services has agreed to pay over $1.9 million to settle allegations by the U.S. Securities and Exchange Commission (SEC) for misstatements made in advertisements that insinuated high returns relating to...
FINRA Arbitration Still an Option for Investors A New York federal judge has refused to certify as a class action a 2015 Puerto Rico UBS bond fund lawsuit that was filed against UBS and its affiliates. The lawsuit, which sought to represent...
Lockwood Advisors Inc. has been fined by the U.S. Securities and Exchange Commission for not informing clients about added trading costs related to wrap accounts. The fine is part of the complaint by the regulator that Lockwood failed to monitor...
Massachusetts Secretary of the Commonwealth William Galvin has ordered SII Investments Inc. to pay the money back to clients who bought non-traded real estate investment trusts (REITs) from the independent broker-dealer. Last year, Galvin’s...
Former MC2 hedge fund manager Yasuna Murakami has been barred from the securities industry and ordered to pay $7.9 million in civil liability. Murakami is currently serving six years in prison for stealing money from investors in a Ponzi-style...
