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A brokerage app hired an army of 1,700 influencers and misled investors on social media, regulators say—and it just got slammed with a massive fine. https://t.co/tY40I1xcdY
US CFTC hits U.S. Bank, Oppenheimer with fines over record keeping failures https://t.co/WbOeojWQWd https://t.co/kRtAHZIBYa
The Financial Industry Regulatory Authority settled its first formal enforcement disciplinary action stemming from a firm's supervision of social media influencers, fining financial services provider M1 Finance $850,000 for misleading posts. https://t.co/ZWr0Jj5Yzr https://t.co/6spZJNzciJ
JPMorgan's federally-insured bank is fined $348 million for losing track of billions of trades. FINRA fines M1 Finance $850,000 for misleading social media influencer posts. The CFTC orders U.S. Bank to pay $6 million and Oppenheimer to pay $1 million for recordkeeping and supervision failures related to unapproved communication methods.
