FINRA’s New 2026 Annual Priorities Target GenAI

On December 9, 2025, FINRA released its 2026 Annual Regulatory Oversight Report, a forward-looking document that identifies some of FINRA’s regulatory priorities for 2026 (the “Report”). For 2026, FINRA introduced a new priority of Generative Artificial Intelligence (“GenAI”). In addition, FINRA provided an update on manipulative trading in...

Moloney Securities Co., Inc. Closes Its Doors After GWG Holdings, Inc. L-Bond Fallout

On December 9, 2025, after years of facing significant scrutiny over the sale of high-risk GWG Holdings, Inc. (“GWG”) corporate bonds (“L-Bonds”) from investors, state regulators, federal agencies, and self-regulatory organizations, Moloney Securities Co., Inc. (“Moloney Securities”) ceased doing business. Before shutting its doors, Moloney Securities had over...

Osaic Wealth, Inc.’s $3 Million Bill For Securities America, Inc.’s $3.8 Billion In Sales Of Class A Mutual Funds To Public Investors Without Proper Supervisory Systems In Place

On December 1, 2025, FINRA accepted a Letter of Acceptance, Waiver, and Consent (“AWC”) from Osaic Wealth, Inc. (“Osaic”) related to the sale of Class A mutual funds. According to the filings, during a routine regulatory examination, FINRA discovered that from January 2018 to June 2024, Osaic’s predecessor, Securities America, Inc., generated...

Suspended Financial Advisor Kirk James Crossen Faces FINRA Disciplinary Proceeding For Allegedly Borrowing $400,000 From Client Suffering From Dementia

On November 11, 2025, FINRA Enforcement lawyers filed a complaint against suspended financial advisor Kirk James Crossen (CRD No. 2742256), alleging that he concealed borrowing $400,000 from a senior investor suffering from dementia, in violation of his employer and FINRA’s rules. According to the filings, during the period...

Broker Mack Leon Miller Suspended For Churning Senior Investor’s Account In Violation Of Reg BI

On August 11, 2025, FINRA accepted a Letter of Acceptance, Waiver, and Consent (“AWC”) from Mack Leon Miller CRD No. 2822317 related to his alleged recommendations of trades to two senior investors that were not in their best interests. According to the filings, during a routine regulatory examination...