Brad Bennett

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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...

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  FINRA, SEC Fine Goldman $22M for ‘Trading Huddles’

  By James J. Green, AdvisorOne  |  April 12, 2012

  The firm settled over failure to supervise research analysts who met with traders and clients, and to monitor possible subsequent firm and client trading, said FINRA's head of enforcement, Brad Bennett.