Stockbroker Misconduct and Investment Fraud Blog

Raymond James Fined TWICE for Bond Fraud

FINRA recently fined Florida-based brokerage firm Raymond James & Associates, Inc. on two separate occasions involving findings that Raymond James charged investors too much money for corporate bond and municipal bond trades. Raymond James is...

RBC Capital Markets Fined for Bond Fraud

FINRA recently has announced that it has fined RBC Capital Markets, LLC for charging unfair and unreasonable bonds prices to investors. The unfair prices are the result of excessive charges, known as markups and markdowns, for bond trades in...

Southwest Securities, Inc. Fined for Bond Fraud

Dallas-based Southwest Securities agreed to pay a $77,500 fine and restitution to investors to settled FINRA charges that it charged investors too much money for bond trades. Those charges are known as markups and markdowns and generally have not...

FINRA Fines Brokerage Firm Janney Montgomery Scott

Philadephia, Pennsylvania-based brokerage firm Janney Montgomery Scott agreed to pay a $45,000 FINRA fine as a result of various rules violations. One of the violations involved FINRA’s finding that Janney Montgomery had purchased municipal...

Fidelity Fined for Excessive Bond Pricing

FINRA has fined Fidelity Brokerage Services LLC for charging unfair municipal bond prices to customers. Fidelity consented to FINRA’s findings that it charged excessive markdowns or markups on bond trades. This practice of gouging investors...

Citigroup Fined for Unfair Bond Pricing

FINRA fined Citigroup Global Markets Inc. for buying municipal bonds and corporate bonds for its own account from customers and/or selling municipal bonds and corporate bonds for its own account to customers at unfair and unreasonable prices...