Securities Industry Commentator by Bill Singer Esq WEEK IN REVIEW

April 3, 2021

Guest Blog: Considering Breaking Away from a Wirehouse? / The Pros and Cons of Going Independent by Michael King of Michael King Associates ( Blog)

Whoops: Schwab Sues Former Customer It Accidentally Sent $1.2 Million (Advisor Hub by Jake Martin)

FINRA: Firms Failed to Supervise Alt Mutual Fund Sales / Cambridge Investment Research, Securities America and J.W. Cole Financial failed to see the risk as reps sold options-laden 'short-vol' LJM Preservation and Growth Fund to investors, according to the regulator. (Wealthmanagement by Patrick Donachie)

Arizona Rubber-Stamps Trajan Wealth's Ownership of Law Firm / The new 'hybrid firm' is the latest in the growing trend toward states opening up law firm ownership to nonlawyers.(Wealthmanagement by Asia Martin)

Financial planner sentenced to 17 years behind bars / Anthony Diaz allegedly bilked clients out of millions over the course of a long-running scheme. (CityWire RIA by Andrew Foerch)

San Diego Business Leader Gina Champion-Cain Sentenced to 15 Years for Massive Ponzi Scheme and Obstruction of Justice (DOJ Release)

Washington Man Pleads Guilty to $244 Million Ghost-Cattle Scam (DOJ Release)

CFTC Charges Washington State Rancher and Feedyard with $233 Million Phantom Cattle Fraud Scheme (CFTC Release)

FINRA Fines and Suspends Rep for OBA
In the Matter of Gordon Bryan, Respondent (FINRA AWC)

FINRA Censures and Fines Merrill Lynch for Supervision of Employee Communications
In the Matter of Merrill Lynch, Pierce, Fenner & Smith Incorporated, Respondent (FINRA AWC)

First Circuit Remands NY Life Racism Case to FINRA Arbitration ( Blog)

The Great FINRA Hand Sanitizer Caper!!! ( Blog)

When An Undisclosed Settlement Gets Disclosed to FINRA ( Blog)