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SW Financial charged with, negligently misrepresenting and omitting material facts in disclosures to its investors, cloaking a conflict of interest the firm had with the securities at issue. The Financial Industry Regulatory Authority expelled member firm SW Financial
Securities Industry and Financial Markets Association Compliance and Litigation Seminar focuses: digital assets, social media, Reg BI, remote inspections. SEC: how broker-dealers and investment advisors can meet their care obligations when providing investment advice
The Financial Regulatory Authority released its 2023 Report on FINRA’s Examination and Risk Monitoring Program which identifies the year’s areas of examination focus for FINRA Member Firms. The Report addresses several key topics from financial crimes to financial management.
In its first disciplinary action related to Regulation Best Interest Reg BI, the FINRA levied a $5,000 fine and a six-month suspension for excessive trading, charging that a broker caused a client to pay tens of thousands of dollars in commissions to the broker.
Securities and Exchange Commission filed an enforcement action alleging violations of Regulation Best Interest, charging GWG Inc.Reg BI,prohibits brokers from placing their own financial interest ahead of their retail customers when making investment recommendations.