Regulator says a new compliance manager instructed investigators in its broker-dealer’s anti-money laundering group to file fewer suspicious-activity reports on international customers.
Finra says Memphis adviser illegally took private information on 52 customers from his former firm and shared it with his new employer.
Most popular articles and comments from November 6 to November 10.
Managing Partner Jim Weddle scoffs at critics who say firm is crowding out existing brokers with accelerated growth strategy.
Mary Jo White says her inability to pass a uniform fiduciary standard remains the biggest disappointment of her tenure and warns that the 12% annual exam rate of registered investment advisers is a time-bomb.
Drew Hawkins abruptly leaves after spending his 28-year career at the firm.
Sandy Galuppo, already fired by Merrill, agrees to one-year industry suspension and $10,000 fine, illustrating growing employer and regulatory scrutiny of ethical lapses.
Attacking the grid, the Bank of America brokerage unit adds 2% to payout for hitting new-money and new-account targets—and deducts 2% for brokers failing to grow.