Tag: FINRA

Citigroup Sales Assistant Stole from Own Father

The Financial Industry Regulatory Authority (FINRA) said today that it has barred Tamara Lanz Moon of Redwood City, California, from the securities industry for stealing more than $850,000 in funds from at least 22 customers, including her own father.

FPA Wants to Curb FINRA Authority

The Financial Planning Association (FPA) argues that the Securities and Exchange Commission (SEC), rather than the Financial Industry Regulatory Authority (FINRA), should regulate financial planning activity.

Ameritas Broker Suspended for Misleading Customers

The Financial Industry Regulatory Authority (FINRA) has fined Ameritas Investment Corp. $100,000 and suspended and fined one of its brokers for inducing customers to take on additional home equity debt in order to purchase variable universal life insurance policies (VULs).

FINRA Bars Broker for Operating Ponzi Scheme

As part of an ongoing investigation, the Financial Industry Regulatory Authority (FINRA) has permanently barred a former registered representative with AXA Advisors, LLC, for conducting a Ponzi scheme.

FINRA Nails Broker-Dealers for Sales to Elderly

The Financial Industry Regulatory Authority (FINRA) said it fined five bank broker/dealers a total of $1.65 million for deficient supervision and procedures related to variable annuity (VA), mutual fund, and unit investment trust (UIT) transactions.

FINRA Fines Wachovia $1.4 Million for Prospectus Delivery

The Financial Industry Regulatory Authority (FINRA) is pegging a $1.4 million fine on Wachovia Securities for its failure to deliver prospectuses and product descriptions to customers who purchased various investment products, and related supervisory failures, the agency said.

FINRA Unveils Tools to Spot Scams

The Financial Industry Regulatory Authority (FINRA) released two online tools designed to help investors spot and resist investment fraud, the agency said.