FINRA has suspended financial advisors Wenru Liang (“Liang”) and Jenny Xinfang Feng (“Feng”) from the securities industry for a six-month period. Neither is currently associated with any FINRA member. FINRA found that Liang and Feng engaged in unethical conduct between April 2017 and August 2020 by designating themselves as beneficiaries…
FINRA has sanctioned Transamerica Financial Advisors, Inc. (“Transamerica Financial”) for its failure to reasonably supervise its financial advisors’ recommendations of three different products – variable annuities, mutual funds, and 529 plans. These recommendations resulted in significant customer harm and financial loss. Transamerica Financial was ordered to pay $4.4 million in…