The U.S. Financial Industry Regulatory Authority today censured and fined UBS Financial Services, Inc. US$370,000, for making hundreds of late disclosures to FINRA’s Central Registration Depository of information about its brokers, including customer complaints, regulatory actions and criminal disclosures. Those reporting violations occurred over a three-year period, from January 2002 through December 2004. It said […]
Project will research how to mitigate common errors made by individual investors
Voluntary initiative designed to help firms serve customers during disruptions
The U.S. Financial Industry Regulatory Authority today announced a settlement with Morgan Stanley & Co. over allegations that it failed to provide emails to regulators and clients involved in arbitration proceedings, claiming that they were destroyed along with the World Trade Center in 2001. The settlement resolves charges that the firm’s former affiliate, Morgan Stanley […]
New U.S. SRO will look at brokers using “professional” designations and at early retirement seminars aimed at misleading and defrauding investors
Firm voluntarily adds US$1.2 million to customer refund fund
Regulators and the industry must make investor education a priority
The U.S. Financial Industry Regulatory Authority today announced that it has fined Morgan Stanley DW Inc. (now known as Morgan Stanley & Co. Inc.) US$1.5 million and ordered the firm to pay more than US$4.6 million in restitution for rule violations relating to the sale of corporate bonds to retail customers at excessive prices. The […]
Elections for 3-year transition board to be conducted on October 26