Sep 30, 2015

Port Richey, Florida Transamerica and Invest Financial Representative Fined and Suspended

Garyn Angel of Port Richey, Florida submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly engaging in private securities transactions without his firm’s written approval. From February 1999 through March 2009 Angel was registered through FINRA member Transamerica Financial Advisors, Inc. (Transamerica). On March 21, 2009, Invest Financial Corporation (Invest Financial) filed a Form U4 for Angel to commence his association with Invest Financial. In February 2013, Invest filed a Form U5 terminating Angel due to a customer complaint filed in January 2013.

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May 13, 2015

JP Morgan under Investigation for Possible Breach of Fiduciary Duty in Mutual Fund Sales

JPMorgan Chase & Co (JPMorgan) is under investigation by the Securities and Exchange Commission (SEC) about a potential conflict of interest and breach of fiduciary duty with respect to its sales of mutual funds and other proprietary products. According to InvestmentNews, JPMorgan received subpoenas and inquiries from the SEC and other government authorities about the firm’s sale and recommendations of mutual funds and other proprietary investment products in its wealth management business. At question is the alleged breach of fiduciary duty, which requires that financial advisors put their customers’ best interests ahead of their own.

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