Brad Bennett

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  FINRA Fines LPL $9M for Failing to Monitor Emails

  By Melanie Waddell, AdvisorOne  |  May 21, 2013

  FINRA announced Tuesday that it fined LPL for 35 separate, “significant email system failures,” and for making material misstatements to FINRA during its investigation.

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  FINRA Slams Three Firms for Anti-Money Laundering Violations

  By Melanie Waddell, AdvisorOne  |  May 8, 2013

  FINRA announced Wednesday that it has fined three firms a total of $900,000 for failing to establish and implement adequate anti-money laundering programs and other supervisory systems to detect suspicious transactions.

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  FINRA Slaps Ameriprise for Rep’s Wire Transfer Fraud

  By Melanie Waddell, AdvisorOne  |  March 4, 2013

  FINRA said Ameriprise and its clearing firm missed several red flags, including transfers to accounts in the broker's name.

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  FINRA Fines Five ING Affiliates $1.2M for Email Violations

  By Melanie Waddell, AdvisorOne  |  February 19, 2013

  FINRA announced Tuesday that it had fined five affiliates of ING $1.2 million for failing to retain or review millions of emails.

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  Major Wirehouses Hit by FINRA for Lobbyist Payments

  By Marlene Y. Satter, AdvisorOne  |  December 27, 2012

  FINRA announced Thursday that it had sanctioned five firms for fees paid to a lobbyist.

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  FINRA Suspends David Lerner, Forces $12M Payback on Apple REITs

  By Melanie Waddell, AdvisorOne  |  October 22, 2012

  Lerner, the CEO and president, misled customers, calling the Apple REITs a ‘fabulous cash cow’ and a ‘gold mine,’ FINRA says.

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  Merrill Overcharged Clients $32M in Fees, FINRA Says

  By Janet Levaux, AdvisorOne  |  June 21, 2012

  The overcharges in fees affected 95,000 accounts over an eight-year period, making it a significant supervisory issue, experts say.

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  FINRA on Pace to Match Record Enforcement Actions

  By Melanie Waddell, AdvisorOne  |  May 23, 2012

  FINRA brought a record number of enforcement cases in 2011—approximately 1,500—and is on pace to bring just as many cases in 2012.

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  FINRA Fines Citigroup for Inaccurate Mortgage Data

  By Melanie Waddell, AdvisorOne  |  May 22, 2012

  FINRA announced Tuesday that it had fined Citigroup Global Markets $3.5 million for providing inaccurate mortgage performance information, supervisory failures and other violations related to mortgage-backed securities.

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  FINRA Sanctions Citigroup, Wells Fargo, Morgan Stanley and UBS for ETF Violations

  By Melanie Waddell, AdvisorOne  |  May 1, 2012

  The Financial Industry Regulatory Authority (FINRA) announced Tuesday that it has sanctioned Citigroup Global Markets, Inc; Morgan Stanley & Co.; UBS Financial Services; and Wells Fargo Advisors, a total of more than $9.1 million for selling leveraged and inverse exchange-traded funds (ETFs) without reasonable supervision and for not having a...