Broker Financial News

Former Deutsche Bank employee and FINRA registered broker, Rashawn Russell, aged 28, has been sentenced to 41 months in prison for wire fraud and crypto fraud scheme that saw investors lose $1.5 million.

Also Read: Worried broker queries FM Nirmala Sitharaman about high taxes in share market, real estate. She replies… Shenoy, who is the CEO of SEBI-registered portfolio management service (PMS) Capitalmind.in explains that one can offset long term capital gains in anything by buying a house.

Nirmala Sitharaman found herself in a tricky situation at an event when a broker raised concerns about the high taxes imposed on stock market brokers and real estate transactions. The broker pointed out the significant tax burden on stock market operations and real estate transactions, labeling the government as a «sleeping partner» that reaps benefits from these taxes without sharing the operational burdens. Speaking at a BSE event, the broker emphasized that despite their investments and risks, the government gains substantially from various taxes, including GST, IGST, Stamp Duty, Securities Transaction Tax (STT), and Long-Term Capital Gains (LTCG) Tax. «Today Government of India is earning more than the broker. So I am investing everything, I am taking a whole lot of risk and government of India is taking away entire profit of mine. You are my sleeping partner, I am a working partner with my finance, my risk, my staff, everything,» the broker said.

Redfin has agreed to pay $9.25 million to settle federal lawsuits that claim U.S. homeowners were saddled with artificially inflated broker commissions when they sold their home as a result of longstanding real estate industry practices

A former longtime broker in Texas who ran a small investment fund that owned units of stuck-in-limbo GPB Capital private placements received a federal court’s approval this week of a $435,000 settlement resolving charges he sold the fund despite not having a securities license at the time.

₹1 lakh are tax-free. Brokers enforce risk-management practices, requiring investors to replenish their initial investment if the stock price drops below a certain threshold, usually 20-25%. If the investor fails to do so, the broker can sell the shares to recover the dues.

Palantir (NYSE:PLTR), a company renowned for its defense and intelligence work with the U.S. government, saw its shares surge significantly in February following its stronger-than-expected Q4 earnings report. Palantir stock is already up more than 42% since the beginning of 2024.

Charles C. Kulch, who has been in the crosshairs of state regulators for pumping sales of pricey nontraded real estate investment trusts, last month was barred from selling securities in New Hampshire for allegedly overcharging clients, according to a settlement posted this week on the website of the state’s Bureau of Securities Regulation.

A former Wells Fargo broker registered with its independent firm from 2019 through last year agreed Friday to being barred from the securities industry after he failed to cooperate with an investigation by the Financial Industry Regulatory Authority Inc.

Videforex is a popular online broker that provides a user-friendly proprietary platform for trading Forex, CFDs, options, stocks, indices, commodities, and cryptocurrencies. With Videforex, traders can access over 100 trading instruments across various markets. The trading platform offers leverage up to 1:500 and the ability to trade options with up to 95% payout.

Stifel Financial Corp’s independent contractor broker-dealer subsidiary – Stifel Independent Advisors – has welcomed a $335 million advisor practice, it’s second so far this year.

Insurance broking company Lockton said it is entering the Indian market with Sandeep Dadia as its country chief executive. Dadia who was previously the CEO of Aditya Birla Insurance Brokers Limited, has spent around 20 years in the insurance business, having worked with Enam Insurance Brokers and TTK Healthcare Services.

Investing.com-- CITIC Securities Co Ltd (SS:600030), China’s biggest brokerage, restricted short-selling for some clients amid growing, outsized losses in local stock markets, Bloomberg reported on Friday citing people with knowledge of the matter.

Three significant milestones have been announced by Arax Investment Partners to scale up its multi-partner platform.

Now that buying and selling bitcoin has evolved to encompass exchange-traded funds that invest in the digital asset, broker-dealers will inevitably ponder the Shakespearian question about a bitcoin ETF: to sell or not to sell?

Jane Street, the firm where FTX’s Sam Bankman-Fried learned how to trade, is so far the broker-dealer of choice for issuers of proposed exchange-traded funds that aim to invest directly in bitcoin.

Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news.

A former Wells Fargo Advisor broker in Salt Lake City was barred from the securities industry yesterday for not turning over information and documents that the Financial Industry Regulatory Authority Inc. wanted in its investigation of the broker, Louis Goff.

Even though it is devoid of any high-flying tech stocks like Apple or Google, the NYSE ARCA Securities Broker/Dealer index, with the ticker symbol .XBD, has managed this year to keep pace with the broad S&P 500 stock index.

A veteran Philadelphia-area broker, Austin Dutton, who for years has been under the scrutiny of securities regulators, is now facing one of the most dire developments in the career of a financial advisor: a Wells Notice.

A tax-focused team of financial professionals has switched firms to further their practice and expand the advisory services they offer.