FINRA Disciplinary Action Report for brokers and brokerage firms for August 2017
FINRA Broker Disciplinary Action Report March 2016
Each month and again on a quarterly basis, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report that runs down all disciplinary actions recently taken against brokerage firms and brokers. This long list of alleged wrongdoing and misconduct reads a lot like a police blotter. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.
The Financial Industry Regulatory Authority (FINRA), the watchdog for the securities industry, operates a Yelp or Angie’s List-style database called BrokerCheck. This powerful resource compiles accreditation, work history, and perhaps most importantly customer dispute history on all 650,000 or so registered financial advisors in this country.
The Financial Industry Regulatory Authority recently announced that it fined Aegis Capital $950,000 for improperly selling unregistered penny stocks and for related supervisory failures. Aegis CEO and Compliance Officers were also fined and suspended by the regulatory agency.