After hearing both sides, a Financial Industry Regulatory Authority panel recently denied all claims made by the estate that was seeking more than $2 million against an investment adviser that worked for a broker-dealer acquired by SECU Brokerage Services Inc.
After weighing the evidence, a Financial Industry Regulatory Authority arbitration panel recently denied all claims against SECU Brokerage Services Inc. in an estate dispute.
The article about credit unions’ future investment options ("Natural Person CUs Plunge Into DIY Investing," Feb. 9 issue) correctly asks, "Who can you trust?" To a large degree, credit unions are currently placing their trust in firms, such as brokers, whose economic interests are contrary to their own.
The Financial Industry Regulatory Authority may have a hard time deciding whether a defunct credit union-owned brokerage firm
In a case involving an alleged failed real estate transaction through a defunct credit union broker-dealer, LPL Financial Corp., the company that acquired the firm, said it was dismissed from the claim.
On Feb. 21, a Financial Industry Regulatory Authority panel will hear the matter between SECU Brokerage, LPL Financial Corp. an investment adviser and a trust that claims its deceased client suffered losses after an alleged failed real estate investment.
Third-party brokerage arrangements for the sale of nondeposit investment products outlined in a recent NCUA guidance letter contain duties some federal credit unions may not have the ability to perform.
While it may be unclear if the two are connected, some financial advisers that use social media professionally are seeing higher revenue growth and larger client bases compared to advisers that do not use the network channels.
The very things that make social media so popular also make them a potential problem for credit unions, their members and those in charge of fighting fraud.
Of the litany of regulations coming around the bend within the retail investment space, financial advisers said they are most concerned about the fiduciary standard and additional disclosure rules.