- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-09-07T19:27:00
A New Jersey-based broker-dealer and its chief compliance officer agreed to pay approximately $740,000 combined, plus interest, as part of a settlement with the Financial Industry Regulatory Authority (FINRA) addressing alleged Regulation Best Interest (Reg BI) compliance failures.
Network 1 Financial Securities will pay a $200,000 fine, approximately $534,000 in restitution, and be censured, according to a FINRA consent order filed Aug. 31.
The firm’s CCO, Michael Molinaro, will pay a $5,000 fine and be banned for three months from association with any FINRA member in all principal capacities, per the order. The self-regulatory organization noted this is Molinaro’s second such suspension, after a 45-day ban in 2015 for alleged supervision failures.
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2024-02-19T16:00:00Z By Kyle Brasseur
A subsidiary of the Teachers Insurance and Annuity Association of America agreed to pay more than $2.2 million as part of a settlement with the Securities and Exchange Commission for not acting in the best interest of its retail customers regarding their retirement accounts.
2023-11-21T16:56:00Z By Kyle Brasseur
Registered broker-dealer Laidlaw and Company agreed to pay more than $800,000 as part of a settlement with the Securities and Exchange Commission addressing multiple alleged violations of Regulation Best Interest.
2023-09-25T18:57:00Z By Jeff Dale
Wisconsin-based broker-dealer Carl M. Hennig agreed to pay a $50,000 fine to settle allegations by the Securities and Exchange Commission it failed to comply with Regulation Best Interest.
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An accessible website should be a basic requirement for businesses, allowing the largest number of people to access a company’s content and services. With technology as an enabler, it also makes good business sense. After all, why would any organization want to hinder customer access? However, many websites are not ...
2025-04-03T13:40:00Z By Adrianne Appel
A Federal Trade Commission case against insulin price gouging has come to a screeching halt after two Democratic commissioners were fired by President Donald Trump.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
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