FINRA Sanctions Rep Over Fidelity Computer Equipment Purchase Assistance Program

We know that FINRA has been investigating numerous individuals who had worked at Fidelity, in connection with a benefit program they maintained, the Computer Equipment Purchase Assistance Program, which would allow employees to seek partial reimbursement for a personal computer purchase or related items every few years. Last week, on February 7, 2019, FINRA accepted […]

FINRA Announces 529 Plan Share Class Initiative

In late January 2019, FINRA issued Notice 19-04, announcing their 520 Plan Share Class Initiative, and offering broker-dealers the opportunity to self-report supervisory-related violations relating to certain sales of 529 plans to investors. Broker-dealers should carefully review this notice with their legal and compliance team, and evaluate their exposure, if any, to regulatory action.

News for Former Wells Fargo Bankers and Analysts Fired or Under Investigation Over Meal Expenses

Wells Fargo has reportedly terminated several investment bankers and analysts over issues regarding the after-hours meal expense policy, and are investigating many others for issues with this policy. If you've left Wells Fargo after an internal review into this matter, you need to prepare for a regulatory investigation by FINRA, as they look to determine whether there have been any rule violations for which enforcement action is appropriate. We've got critical information for those affected by these terminations.