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FINRA Fines Merrill Lynch $1 Million for Failure to Arbitrate Disputes With Employees

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith $1 million for failing to arbitrate disputes with employees relating to retention bonuses. Registered representatives who participated in the bonus program had to sign a promissory note that prevented them from arbitrating disagreements relating to the note, […]

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SEC Charges Fund Managers, Analysts in Insider Trading Case

SEC Charges Seven Fund Managers and Analysts In Insider Trading Scheme, and Also Charges Hedge Fund Firms Diamondback Capital and Level Global On January 18, 2012, the Securities and Exchange Commission filed a civil injunctive action in the United States District Court for the Southern District of New York charging two multi-billion dollar hedge fund […]

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SEC charges St. Louis-based private investment funds and their principal with fraud

The Securities and Exchange Commission today announced that it has filed charges and obtained emergency relief, including an asset freeze and the appointment of a receiver, against several St. Louis, Missouri private investment funds and management companies. The SEC alleges that Burton Douglas Morriss, the principal of these entities, misappropriated over $9 million of investor […]

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Raymond James set to purchase Morgan Keegan

Raymond James is nearing an agreement to buy Region’s Morgan Keegan brokerage unit for about $930 million in cash.  Raymond James may tap Morgan Keegan Chief Executive Officer John Carson as its president and head of fixed income according to news reports. Adding Morgan Keegan would bring Raymond James one of the top underwriters of U.S. municipal […]

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Operators of real estate programs agree to settle SEC charges

The Securities and Exchange Commission announced today the resolution of an enforcement action filed by the Commission on March 1, 2010 in federal district court in Massachusetts against several Massachusetts-based parties who offered real estate investments. The court entered final judgments by consent against several defendants on January 10, 2012, and the Commission agreed to […]

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