This Weeks Top Stories Fidelity Enjoins Florida Broker, Finra Fines Two Firms over UIT Sales, and More

6 Jan    Investing News

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  1. Fidelity Enjoins Morgan Stanley, Florida Broker in Non-Solicit Case
    Morgan Stanley and a broker it hired in June have agreed not to contact former clients pending the outcome of a parallel claim Fidelity has brought in arbitration.
  2. Oppenheimer to Pay $4.7 Mln for UIT Rollover Violations
    Firm failed to have procedures for ensuring that customers weren’t encouraged to redeem their unit investment trusts sales prematurely in order to generate commissions.
  3. Wells FiNet Team with $189-Mln Book Shifts to Ameriprise
    Four-advisor group  in Bakersfield, Calif., stays independent with Ameriprise’s franchise division. 
  4. Finra Fines Cambridge Investment for UIT/Mutual Fund Sales Violations
    Independent broker-dealer agrees to pay $150,000 for failing to enforce supervisory procedures aimed at unsuitable short-term trading and excess commissions.
  5. RayJay Broker Who Jumped from JPMorgan Wins a Non-Solicit Battle
    Finra arbitrators denies J.P. Morgan Securities’ request for a permanent injunction against an Indianapolis broker who was temporarily handcuffed from contacting clients.

The post This Week’s Top Stories: Fidelity Enjoins Florida Broker, Finra Fines Two Firms over UIT Sales, and More appeared first on AdvisorHub.

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