January 15, 2016

FINRA Sanctions UBS Puerto Rico $18.5 Million for Supervisory Failures Regarding Sales of Puerto Rican Closed-End Funds and Related Loans

January 15, 2016/ Jon Furgison

FINRA fined UBS Financial Services Incorporated of Puerto Rico (UBS PR) $7.5 million for supervisory failures related to the suitability of transactions in Puerto Rican closed-end fund (CEF) shares and ordered UBS PR to pay approximately $11 million in restitution to 165 customers who were forced to realize losses on their CEF positions.

January 15, 2016

FINRA Orders Wells Fargo, Raymond James, and LPL Financial to Pay More Than $30 Million in Restitution to Retirement Accounts and Charities Overcharged for Mutual Funds

January 15, 2016/ Jon Furgison

FINRA has ordered Wells Fargo Advisors, LLC, Wells Fargo Advisors Financial Network, LLC, Raymond James & Associates, Inc., Raymond James Financial Services, Inc. and LPL Financial LLC to pay more than $30 million in restitution, including interest, to affected customers for failing to waive mutual fund sales charges for certain charitable and retirement accounts.

January 15, 2016

FINRA Orders an Additional Five Firms to Pay $18 Million in Restitution to Charities and Retirement Accounts Overcharged for Mutual Funds

January 15, 2016/ Jon Furgison

FINRA order Edward Jones, Stifel Nicolaus, Janney Montgomery, AXA and Stephens to pay $18 million in restitution for overcharging customers and failing to adequately supervise the sale of mutual funds that offered sales charge waivers.

January 11, 2016

FINRA Fines Barclays Capital, Inc. $13.75 Million for Unsuitable Mutual Fund Transactions

January 11, 2016/ Jon Furgison

FINRA Sanctions Barclays Capital, Inc. $13.75 Million for Unsuitable Mutual Fund Transactions and Related Supervisory Failures

January 11, 2016

FINRA Fines Fidelity Brokerage Services LLC $1 Million for Supervision Failures

January 11, 2016/ Jon Furgison

Fidelity Failed to Follow Up on Red Flags to Detect or Prevent Theft of Funds From Senior Investors by Fraudster Posing as Fidelity Broker.

Stock Fraud Lawyer | Securities Arbitration Attorneys| Furgison Law Group

The Furgison Law Group represents retail and institutional investors around the world in securities arbitration and litigation. The firm represents clients before the Financial Industry Regulatory Authority (FINRA) [formerly the National Association of Securities Dealers (NASD)], the American Arbitration Association (AAA) and in numerous state and federal courts to resolve financial disputes between customers, financial advisers, banks, brokerage firms and other financial institutions.

Our firm has represented litigants in state and federal courts in California and across the country in a variety of business and professional liability disputes, including complex litigation and cases involving sophisticated theories of fraud, misrepresentations and omissions, professional negligence and breach of fiduciary duty.

Our headquarters are in Southern California, but we have a network of associate attorneys that allow us to serve clients from across the country and around the world.

We have recovered millions of dollars in investment losses for our clients and we look forward to helping you.

(310) 356-6890

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Furgison Law Group, PC (310) 356-6890
445 31st Street, Hermosa Beach, CA 90254
26901 Agoura Rd, Suite 180, Agoura Hills, CA 91301

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Blog

News and Investor Alerts on investment scams, financial adviser fraud and other stockbroker misconduct.

News and Investor Alerts on investment scams, financial adviser fraud and other stockbroker misconduct

FINRA Sanctions UBS Puerto Rico $18.5 Million for Supervisory Failures Regarding Sales of Puerto Rican Closed-End Funds and Related Loans

FINRA Orders Wells Fargo, Raymond James, and LPL Financial to Pay More Than $30 Million in Restitution to Retirement Accounts and Charities Overcharged for Mutual Funds

FINRA Orders an Additional Five Firms to Pay $18 Million in Restitution to Charities and Retirement Accounts Overcharged for Mutual Funds

FINRA Fines Barclays Capital, Inc. $13.75 Million for Unsuitable Mutual Fund Transactions

FINRA Sanctions Barclays Capital, Inc. $13.75 Million for Unsuitable Mutual Fund Transactions and Related Supervisory Failures

FINRA Fines Fidelity Brokerage Services LLC $1 Million for Supervision Failures

Stock Fraud Lawyer | Securities Arbitration Attorneys| Furgison Law Group

(310) 356-6890