Enforcement actions

Transamerica Financial Advisors has agreed to pay $321,167 in restitution as part of a settlement of Financial Industry Regulatory Authority charges that it failed to properly supervise its brokers selling shares of 529 plans.

This is the latest case to involve 'flipping' — improperly allocating bonds meant for retail customers and instead selling them to other market participants — following multiple related actions made by the SEC over the years.

To win a summary judgment, a party to a lawsuit must show that there is no factual dispute at issue and that the facts of the case can only support a finding in that party’s favor.

Charles Doraine settled with the Financial Industry Regulatory Authority on Monday without admitting or denying FINRA’s findings.

First Manhattan Co. bought municipal securities from an unaffiliated dealer without making a reasonable effort to obtain fair and reasonable prices, FINRA said.

The Lincoln-Way high school district won a Moody's upgrade to Baa2 ahead of a $23 million refinancing deal.

The investigation appears to be linked to the supervision of Deborah Kelley, a broker who was convicted and sanctioned for bribing a state pension fund officer.

The orders issued Dec. 23 bring to a close the Securities and Exchange Commission enforcement action against Navnoor Kang, Deborah Kelley and Gregg Schonhorn.

The Financial Industry Regulatory Authority found D.A. Davidson & Co. provided inaccurate pricing in issue price certificates.

The SEC brought four civil lawsuits and 10 stand-alone administrative proceedings, according to its annual report released Wednesday.