Yesterday, October 30, 2025, the Financial Industry Regulatory Authority (FINRA) barred a former broker at Transamerica Financial Advisor, Mr. George Ndifor Jing, from associating with any FINRA member firm in all capacities as a result of failing to cooperate with an investigation. If you were a client of George N. Jing and suffered investment losses…
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Investment Advisor Representative Yvette Barrra has recently been named as a defendant in substantial civil lawsuit in Texas alleging over $21 million in damages. The complaint features allegations of recommending unregistered securities and failing to act in clients’ best interests. If you were a client of Yvette Barrera or Texas Financial Advisory and suffered investment…
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Recently, the Financial Industry Regulatory Authority (FINRA) announced disciplinary actions against two financial advisors, Eyan M. Townsend and George J. Cairnes, for serious misconduct, including unauthorized communications, undisclosed outside business activities, borrowing funds from a client, and interfering with a firm’s investigation. If you were a client of Eyan M. Townsend or George J. Cairnes…
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From September 2016 through November 2022, Ally Invest Securities LLC failed to preserve over 22.6 million business-related electronic communications, violating key federal securities laws and FINRA regulations. As a result, Ally has been censured and fined $850,000 by FINRA. The violations underscore how crucial it is for brokerage firms to maintain proper supervisory and recordkeeping…
Continue reading ›Merrill Lynch, Pierce, Fenner & Smith Incorporated has agreed to pay $9.5 million to settle a FINRA arbitration claim filed by former Miami Dolphins safety Reshad Jones. The claim stemmed from alleged misconduct by Jones’s former financial advisor, Isaiah Thomas Williams, who was accused of misappropriating over $2.5 million from the NFL veteran’s investment accounts.…
Continue reading ›The Financial Industry Regulatory Authority (FINRA) has censured and fined J.P. Morgan Securities LLC (JPMS) $150,000 for supervisory failures tied to the delivery of preliminary prospectuses in initial public offerings (IPOs). According to a FINRA Letter of Acceptance, Waiver, and Consent (AWC), between January 1, 2018, and December 30, 2021, JPMS’s supervisory system, including its…
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The Financial Industry Regulatory Authority (FINRA) has fined Interactive Brokers LLC $650,000 and issued a censure after finding that the online brokerage firm failed to exercise proper due diligence before approving certain self-directed customers to trade options. The sanctions stem from deficiencies that spanned more than five years, between November 2019 and December 2024, and…
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The GWG Wind Down Trust filed its latest status report on August 15, 2025, with the U.S. Bankruptcy Court, providing new details for GWG L Bond investors. Liz Freeman, the GWG Wind Down Trustee, also released the trust’s recent financial statements. These reports cover the Trust’s activities for the quarter and year ending June 30,…
Continue reading ›In another significant win for GWG L Bond investors, a FINRA arbitration panel has ordered Arete Wealth Management, LLC to pay $280,000 in compensatory damages to a harmed investor. The award, issued on August 11, 2025 (FINRA Arbitration Award No. 22-01257), marks the second time in as many years that the Chicago-based broker-dealer has been…
Continue reading ›The U.S. Securities and Exchange Commission (SEC) has announced significant settlements with Emerson Equity, LLC—the managing broker-dealer for the now-defunct GWG Holdings, Inc. (“GWG”) L Bond program. It also settled with Tony Barouti, one of the nation’s most prolific L Bond sales representatives. These enforcement actions provide further confirmation of what Iorio Law PLLC has…
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