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Vanguard Faces Class Action Lawsuit Over $100 Account Closure Fee

April 10th, 2025 at 12:30 PM
Vanguard is facing a federal class-action lawsuit over a $100 fee imposed on brokerage customers who close their accounts and transfer funds to another firm.
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Commonwealth Financial and Former Edward Jones Advisors Ordered to Pay $3.5 Million in Arbitration Award

April 9th, 2025 at 10:08 AM
An arbitration panel has ordered independent broker-dealer Commonwealth Financial and a group of advisors formerly with Edward D. Jones & Co. to pay $3.5 million following a legal dispute over their departure, according to an arbitration award.
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CFP Board Seeks Public Input on Changes to Certification Rules

April 8th, 2025 at 9:21 AM
The CFP Board is requesting public comment on proposed revisions to its procedural rules regarding certification eligibility for candidates with a single bankruptcy or multiple misdemeanor convictions related to alcohol or drug offenses.
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CFTC Unveils New Guidelines to Reward Cooperation and Self-Reporting in Enforcement Actions

April 7th, 2025 at 2:07 PM
The U.S. Commodity Futures Trading Commission (CFTC) has issued a new advisory that formalizes how it will evaluate cooperation and self-reporting when determining penalties in enforcement matters. According to InvestmentNews, acting Chairman Caroline Pham announced the move as part of a broader shift in the agency’s enforcement posture, aimed at incentivizing faster case resolution and more reasonable penalties.
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LPL Financial Experiences Trading System Outage Amid Market Volatility

April 4th, 2025 at 11:49 AM
LPL Financial, the largest independent broker-dealer in the U.S., experienced widespread system outages on April 3rd, preventing advisors from executing trades for hours.
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FINRA Seeks Public Input on Rule Modernization

April 3rd, 2025 at 2:26 PM
The Financial Industry Regulatory Authority (FINRA) is conducting a comprehensive review of its rules and is soliciting feedback from industry participants. According to ThinkAdvisor, the review aims to modernize regulations, particularly concerning remote work and branch office requirements.
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Bybit Suffers Massive $1.5 Billion Crypto Hack Amid Security Concerns

April 2nd, 2025 at 3:04 PM
Bybit, a major cryptocurrency exchange, has fallen victim to a devastating security breach, resulting in the theft of approximately $1.5 billion in Ethereum.
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CFP Board Releases AI Ethics Guide for Its Certificants

April 1st, 2025 at 3:43 PM
The CFP Board has released a "Generative AI Ethics Guide" to address the growing use of artificial intelligence in financial advising.
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Margin Debt Hits Record Highs

March 31st, 2025 at 12:24 PM
Investors' use of margin trading has surged to unprecedented levels, with debit balances in margin accounts reaching a record $937 billion as of January 2025, according to FINRA.
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FINRA Arbitration Orders Stifel to Pay $133 Million Over Broker's Structured Note Strategy

March 28th, 2025 at 12:11 PM
A FINRA arbitration panel has ordered Stifel Financial’s retail broker-dealer to pay nearly $133 million in damages related to a structured note investment strategy promoted by Miami-based broker Chuck A. Roberts.
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I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!

David Y

LATEST NEWS AND ARTICLES

May 8, 2025
All 50 States Now Aligned on Annuity Sales Standards

The annuity industry officially has secured uniformity in sales regulations across all 50 states.

May 7, 2025
Jury Finds Investment Advisor Liable for Failing to Disclose Annuity Commissions

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May 6, 2025
SEC Charges Three Individuals in $284 Million Arizona Sports Complex Bond Fraud by Legacy Cares

The Securities and Exchange Commission has filed a civil enforcement action against Randall “Randy” Miller, Chad Miller, and Jeffrey De Laveaga for allegedly defrauding investors in two municipal bond offerings that raised $284 million.