MICHAEL GARRIS Suspended By FINRA The Financial Industry Regulatory Authority (“FINRA”) announced July 22, 2019 that it issued Wells Fargo Clearing Services LLC (“Wells Fargo”) broker Michael Garris (CRD#: 1540384, Los Angeles, California) a one-year suspension beginning August 5, 2019, and a $5,000 fine for unauthorized trading. Notably, Garris who worked at Wells Fargo from […]

There will be a major revamping of suitability mandates effective July 9, 2012, that has some in the broker-dealer world worried about much broader obligations to oversee customer accounts and investment strategies, writes Dan Jamieson in an article from InvestmentNews.com, July 5, 2012. There will be a rule which requires brokers to perform reasonable diligence on products, understand those […]