Blog
Search Our Blog
J.P. Morgan Misled Clients On Broker Compensation
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, January 4, 2016.
J.P. Morgan Securities agreed to pay $4 million to settle charges by the SEC that it mislead clients about how its brokers were compensated, according to the SEC […] Read More
Cantor Fitzgerald to Pay $7.3 Million for Selling Unregistered Stock
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, January 4, 2016.
The Financial Industry Regulatory Authority FINRA ordered investment bank Cantor Fitzgerald & Co. to pay $7.3 million in sanctions for allegedly selling billions of unregistered microcap shares […] Read More
Cetera Advisers Consider Leaving in Light of RCS Capital Woes
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Wednesday, December 30, 2015.
As Cetera Financial Group’s parent, RCS Capital, implodes under the weight of accounting irregularities and increasing regulatory scrutiny, many Cetera advisors are considering whether to stay the course or jump ship […] Read More
LPL Cuts Workforce and Delays Raises for Employees
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Wednesday, December 30, 2015.
LPL Financial announced this week it was doing more belt-tightening and has eliminated 70 jobs […] Read More
Comprehensive Asset Management Agrees to Pay $475K Fine for Annuity Abuse Charges
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, December 28, 2015.
New Jersey based Comprehensive Asset Management and Servicing, Inc. has agreed to pay FINRA a $475,000 fine to settle allegations that the firm failed to […] Read More
Fidelity Hit With $1 Million Fine for Failing to Detect Fraud Against Seniors
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Thursday, December 24, 2015.
This week FINRA hit the retail brokerage arm of Fidelity Investments with a $1 million fine and sanction for failing to detect and protect is clients, mostly seniors […] Read More
Credit Suisse Sues UBS for Raiding it's Brokers
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Tuesday, December 22, 2015.
As we reported previously, Credit Suisse has decided to exit the retail U.S. brokerage market and has been in discussions with Wells Fargo to transition Credit Suisse brokers to Wells Fargo where they can have access to […] Read More
JP Morgan Agrees to Pay $300+ Million to Settle SEC Charges
By Erwin J.Shutak, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, December 21, 2015.
JP Morgan announced that it will pay over $300 million to settle SEC charges that it failed to disclose […] Read More
FINRA Seeks SEC Approval of New Broker Compensation Disclosure Rule
By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Thursday, December 17, 2015.
On Wednesday, the Financial Industry Regulatory Authority (FINRA) submitted proposed Rule 2273 to the SEC for formal approval. The rule, titled “Educational Communication Related to Recruitment Practices and Account Transfers,” […] Read More
Morgan Stanley Axes 1,200 Jobs
By Erwin J. Shustak, Esq. of Shustak Reynolds & Partners, P.C. posted on Wednesday, December 9, 2015.
Morgan Stanley announced it will eliminate 1,200 positions, amounting to 25% of the firm’s entire fixed income trading staff as well as other infrastructure […] Read More