Broker Suspended by FINRA for Marking Solicited Trades as Unsolicited

Stockbroker Law - Thursday, October 25, 2012
Broker Suspended by FINRA for Marking Solicited Trades as Unsolicited

In a recent decision of the FINRA Regulatory Authority (FINRA), Andrey V. Tkatchenko was fined $10,000.00 and given a 15-day business suspension for marking trade tickets and trade confirmation relating to stock purchase transactions as being unsolicited, when in fact they were solicited. 


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MetLife, Prudential, John Hancock, Manulife Financial, Verus Financial, LLC Agree to Forty Million Dollar Settlement Relating to Unclaimed Death Benefits

Stockbroker Law - Friday, October 05, 2012
MetLife, Prudential, John Hancock, Manulife Financial, Verus Financial, LLC Agree to Forty Million Dollar Settlement Relating to Unclaimed Death Benefits

Metropolitan Life Insurance Company agreed to pay forty million dollars to settle a multi-state probe of its alleged mishandling of insurance policy death benefits.  The Wall Street Journal (http://online.wsj.com/article/SB10001424052702303592404577361983469311186.html) reports that the deal could lead to more than four hundred million dollars in payments to the heirs of certain life insurance policyholders, who were allegedly not notified of the policyholder deaths.   


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MetLife, Prudential, John Hancock, Manulife Financial, Verus Financial, LLC Agree to Forty Million Dollar Settlement Relating to Unclaimed Death Benefits

Stockbroker Law - Friday, October 05, 2012
MetLife, Prudential, John Hancock, Manulife Financial, Verus Financial, LLC Agree to Forty Million Dollar Settlement Relating to Unclaimed Death Benefits

Metropolitan Life Insurance Company agreed to pay forty million dollars to settle a multi-state probe of its alleged mishandling of insurance policy death benefits.  The Wall Street Journal (http://online.wsj.com/article/SB10001424052702303592404577361983469311186.html) reports that the deal could lead to more than four hundred million dollars in payments to the heirs of certain life insurance policyholders, who were allegedly not notified of the policyholder deaths.  Under the terms of the agreement, MetLife has agreed to cross-check its life insurance policyholder records against death databases on a monthly basis in a number of states in order to determine if any death benefits are due. 


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FINRA Broker/Check Offers Small Investors an Opportunity to Investigate their Brokers

Stockbroker Law - Friday, October 05, 2012
FINRA Broker/Check Offers Small Investors an Opportunity to Investigate their Brokers

The Financial Industry Regulatory Authority (FINRA), the self-regulatory entity responsible for the administration of examinations for stockbrokers and financial advisors, maintains its BrokerCheck website at http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/.  This website can be used to easily access readily-available information about your stockbroker.  This information includes the examinations they have successfully completed, how long they have been Registered Representatives and stockbrokers, their current and previous investment-related and FINRA firm affiliations, and other employment-related history. 


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