News Releases & Statements

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FINRA Bars AGSI Broker for Misappropriating $90,000 Inheritance From Two Sisters
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has barred Richard L. Wood, a Miamisburg, Ohio, broker, from the securities industry for stealing a $90,000 inheritance two sisters received from a deceased aunt and using it for his own purposes.
FINRA Fines Credit Suisse $275,000 for Failing to Comply With Terms of Global Research Analyst Settlement
Washington, D.C. — The Financial Industry Regulatory Authority (FINRA) announced today that it has imposed a fine of $275,000 against Credit Suisse Securities (USA), LLC, for failing to comply fully with one of the key terms of the 2003 Global Research Analyst Settlement.
Ameritas Fined $100,000 for Use of Misleading College Funding Plans to Sell Variable Life Products
Plans Recommended Using Funds Obtained From Mortgage Refinancings and Home Equity Loans FINRA Also Suspends Broker for Nine Months, Fines Her $60,000
FINRA Hearing Panel Expels Legacy Trading Co., Bars Firm's CEO, Imposes Fine of More Than $1 Million
Washington, DC - A Financial Industry Regulatory Authority (FINRA) hearing panel has expelled Legacy Trading Co., LLC of Edmond, OK, and permanently barred the firm's CEO and owner, Mark Uselton, from the securities industry for a wide range of misconduct - including violations of short selling rules, failure to maintain required books and records, and for providing false information and refusing to provide testimony to FINRA.
FINRA Fines Merrill Lynch, UBS for Supervisory Failures in Sales of Closed-End Funds; Customers Get More Than $5 Million in Remediation
Five Merrill Brokers Suspended, Fined; Investigation of Former UBS Brokers Continues
FINRA Permanently Bars Broker Operating Ponzi Scheme Involving Customers of Broker-Dealers
Washington, D.C. - The Financial Industry Regulatory Authority (FINRA) announced today that it has permanently barred Kenneth George Neely of St. Louis, a former registered representative with AXA Advisors, LLC, for conducting a Ponzi scheme involving customers of AXA, his previous employer Stifel, Nicolaus & Co. Inc., as well as Neely's family, friends and fellow church members.
FINRA Fines Bank Broker-Dealers $1.65 Million for Supervisory Failures in Variable Annuity, Mutual Fund and UIT Transactions
The Financial Industry Regulatory Authority (FINRA) announced today that it fined five bank broker-dealers a total of $1.65 million for deficient supervision and procedures related to variable annuity, mutual fund or unit investment trust (UIT) transactions.
FINRA Fines NEXT Financial Group $1 Million for Supervisory Failures That Led to Churning of Customer Accounts, Excessive Commissions
Additional Violations Included Unreasonable Charges for Bond Trades; Former Chief Compliance Officer Fined and Suspended
FINRA Warns Public of Scam Using Fake FINRA Checks
The Financial Industry Regulatory Authority (FINRA) today issued an Investor Alert called Beware of Fake Check Scams, warning the public about scams that target job-seekers and those looking to make a little extra cash.
FINRA Takes Sweeping Action to Protect Muni Bond Investors
Regulator Issues Investor Alert, Regulatory Notice, Launches Industry Sweeps