FINRA

Roger Hobby Joins Empower as EVP for Personal Wealth

Retrieved on: 
Monday, March 25, 2024
Professional Services, Consumer, Seniors, Finance, Asset Management, Consulting, Personal Finance, EVP, Empower, Harvard Business School, Wealth management, Wealth, University, Hobby, Wilmington Trust, Thought, Fidelity, Fidelity Investments, Investment, Multimedia, Workplace, FINRA

View the full release here: https://www.businesswire.com/news/home/20240325760082/en/

Key Points: 
  • View the full release here: https://www.businesswire.com/news/home/20240325760082/en/
    Roger Hobby Joins Empower as EVP for Personal Wealth.
  • (Photo: Business Wire)
    Hobby will join Empower on April 1 and bring extensive wealth management, executive benefits, workplace, and general management skills.
  • He will lead the company’s in-plan and direct-to-consumer long-term customer focus, which will include delivering outstanding service, financial planning, and advice expertise.
  • “Roger has a very deep understanding of our customers’ needs and choices, and I am confident he will help Empower Personal Wealth create valuable experiences for them,” said Carol Waddell, President of Empower Personal Wealth.

First Trust High Income Long/Short Fund Declares its Monthly Common Share Distribution of $0.105 Per Share for April

Retrieved on: 
Wednesday, March 20, 2024
Other Professional Services, Asset Management, Professional Services, Finance, Uncertainty, Hamas, New York Stock Exchange, FTP, Taft–Hartley Act, Infection, ERISA, Risk, FTA, COVID-19, Federal, AIB (NI), Terrorism, Research, Movement, Judgement, Loss, Investment, Fraud, FSD, Internal Revenue Code, Federal Reserve, Fund, FINRA, Security (finance)

First Trust High Income Long/Short Fund (the "Fund") (NYSE: FSD) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.105 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.

Key Points: 
  • First Trust High Income Long/Short Fund (the "Fund") (NYSE: FSD) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.105 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.
  • First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
  • FTA and its affiliate First Trust Portfolios L.P. ("FTP"), a FINRA registered broker-dealer, are privately-held companies that provide a variety of investment services.
  • FTP is also a distributor of mutual fund shares and exchange-traded fund creation units.

First Trust/abrdn Global Opportunity Income Fund Declares its Monthly Common Share Distribution of $0.06 Per Share for April

Retrieved on: 
Wednesday, March 20, 2024
Asset Management, Professional Services, Finance, Uncertainty, Hamas, New York Stock Exchange, FTP, Infection, Central bank, ERISA, Risk, FTA, COVID-19, Federal, AIB (NI), Terrorism, FAM, Movement, Judgement, Abrdn, Loss, Organic, Investment, European, Fraud, Internal Revenue Code, Federal Reserve, Fund, FINRA, Government, European Central Bank, Security (finance)

First Trust/abrdn Global Opportunity Income Fund (the "Fund") (NYSE: FAM) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.06 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.

Key Points: 
  • First Trust/abrdn Global Opportunity Income Fund (the "Fund") (NYSE: FAM) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.06 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.
  • The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income.
  • FTP is also a distributor of mutual fund shares and exchange-traded fund creation units.
  • Market risk is the risk that a particular investment, or shares of a fund in general may fall in value.

First Trust Intermediate Duration Preferred & Income Fund Declares its Monthly Common Share Distribution of $0.1375 Per Share for April

Retrieved on: 
Wednesday, March 20, 2024
Professional Services, Finance, Uncertainty, Hamas, New York Stock Exchange, Bankruptcy, FTP, Infection, ERISA, Risk, Trust, FTA, Federal, AIB (NI), COVID-19, Terrorism, NAV, Judgement, Investment, Fraud, Interest, Internal Revenue Code, Federal Reserve, Fund, FINRA, Security (finance)

First Trust Intermediate Duration Preferred & Income Fund (the "Fund") (NYSE: FPF) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.1375 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.

Key Points: 
  • First Trust Intermediate Duration Preferred & Income Fund (the "Fund") (NYSE: FPF) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.1375 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.
  • The Fund has a practice of seeking to maintain a relatively stable monthly distribution which may be changed periodically.
  • The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income.
  • The Fund seeks to achieve its investment objectives by investing in preferred and other income-producing securities.

First Trust Energy Infrastructure Fund Declares its Monthly Common Share Distribution of $0.10 Per Share for April

Retrieved on: 
Wednesday, March 20, 2024
Banking, Professional Services, Finance, Uncertainty, Hamas, New York Stock Exchange, Natural gas, FTP, Plan, Infection, EIP, ERISA, Risk, FTA, Trustee, Federal, AIB (NI), COVID-19, Terrorism, Policy, Security (finance), Judgement, Investment, Internal Revenue Code, Federal Reserve, MLP, Petroleum, FINRA, Life insurance

First Trust Energy Infrastructure Fund (the "Fund") (NYSE: FIF) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.10 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.

Key Points: 
  • First Trust Energy Infrastructure Fund (the "Fund") (NYSE: FIF) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.10 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.
  • Under the Plan, the Fund intends to continue to pay a recurring monthly distribution that reflects the distributable cash flow of the Fund.
  • This distribution will consist of net investment income earned by the Fund and return of capital and may also consist of net short-term realized capital gains.
  • The Fund seeks to achieve its investment objectives by investing primarily in securities of companies engaged in the energy infrastructure sector.

First Trust High Yield Opportunities 2027 Term Fund Declares its Monthly Common Share Distribution of $0.13 Per Share for April

Retrieved on: 
Wednesday, March 20, 2024
Professional Services, Finance, Uncertainty, Hamas, New York Stock Exchange, FTP, Infection, ERISA, Environment, Risk, FTA, COVID-19, Federal, AIB (NI), Terrorism, NAV, Judgement, Debt-to-GDP ratio, Investment, Internal Revenue Code, Federal Reserve, Nationalization, Fund, FINRA, Security (finance)

First Trust High Yield Opportunities 2027 Term Fund (the "Fund") (NYSE: FTHY) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.13 per share payable on April 25, 2024, to shareholders of record as of April 2, 2024.

Key Points: 
  • First Trust High Yield Opportunities 2027 Term Fund (the "Fund") (NYSE: FTHY) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.13 per share payable on April 25, 2024, to shareholders of record as of April 2, 2024.
  • The Fund has a practice of seeking to maintain a relatively stable monthly distribution which may be changed periodically.
  • High yield debt securities include U.S. and non-U.S. corporate debt obligations and senior, secured floating rate loans ("Senior Loans").
  • The Fund is not a "target term" Fund and its primary objective is to provide high current income.

First Trust Mortgage Income Fund Declares its Monthly Common Share Distribution of $0.0825 Per Share for April

Retrieved on: 
Wednesday, March 20, 2024
Consulting, Professional Services, Finance, Failure, Uncertainty, Hamas, New York Stock Exchange, FTP, Infection, ERISA, Risk, FTA, COVID-19, Federal, AIB (NI), Terrorism, Sale, Judgement, Investment, Internal Revenue Code, Federal Reserve, Fund, FINRA, FMY

First Trust Mortgage Income Fund (the "Fund") (NYSE: FMY) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.0825 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.

Key Points: 
  • First Trust Mortgage Income Fund (the "Fund") (NYSE: FMY) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.0825 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.
  • The Fund is a diversified, closed-end management investment company that seeks to provide a high level of current income.
  • First Trust Advisors L.P. ("FTA") is a federally registered investment advisor and serves as the Fund's investment advisor.
  • FTP is also a distributor of mutual fund shares and exchange-traded fund creation units.

First Trust Senior Floating Rate Income Fund II Declares its Monthly Common Share Distribution of $0.097 Per Share for April

Retrieved on: 
Wednesday, March 20, 2024
Professional Services, Finance, Uncertainty, Hamas, New York Stock Exchange, FTP, Infection, ERISA, Debtor, Risk, FTA, COVID-19, Federal, AIB (NI), Terrorism, NAV, Judgement, Investment, Internal Revenue Code, Federal Reserve, Fund, FINRA, Security (finance)

First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.

Key Points: 
  • First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.097 per share payable on April 15, 2024, to shareholders of record as of April 2, 2024.
  • The Fund has a practice of seeking to maintain a relatively stable monthly distribution which may be changed periodically.
  • The Fund pursues these investment objectives by investing primarily in senior secured floating-rate corporate loans.
  • Under normal market conditions, the Fund will invest at least 80% of its Managed Assets in lower grade debt instruments.

The Standard Hires James Gilligan, Lauren Davi and Mathew Nesbitt as Regional Vice Presidents in Retirement Plans

Retrieved on: 
Tuesday, March 19, 2024
Finance, Professional Services, Fintech, Insurance, Human Resources, The Standard, St. Bonaventure University, Pension, Standard, Villanova University, Multimedia, Knowledge, Davi, Saint Louis University, FINRA, Financial adviser

The Standard welcomes three new regional vice presidents in Retirement Plans — James Gilligan, Lauren Davi and Mathew Nesbitt.

Key Points: 
  • The Standard welcomes three new regional vice presidents in Retirement Plans — James Gilligan, Lauren Davi and Mathew Nesbitt.
  • Each has in-depth knowledge of the retirement plans industry and embodies the company’s customer-centric values.
  • He has 30 years of experience in the retirement plan and financial services industry, with previous roles as regional director, managing director and sales consultant.
  • “Lauren, James and Mathew each demonstrate our company’s commitment to building and nurturing relationships as well as doing what matters for our customers,” said Jason Burlie, vice president of Retirement Plan Sales at The Standard.

FINRA Fines M1 Finance $850,000 for Violations Regarding Use of Social Media Influencer Program

Retrieved on: 
Monday, March 18, 2024
Social Media, Influencer, Other Professional Services, Legal, Other Communications, Law Enforcement, Emergency Services, Finance, Consulting, Banking, Communications, Business, Accounting, Professional Services, Public Policy, Government, Digital Marketing, Online, M1 Finance, Letter, Public, Principle, Rulemaking, Social media, Sale, Communication, Acquisition, Municipal Securities Rulemaking Board, FINRA, Financial adviser

This case arises from FINRA’s targeted exam of firm practices related to the acquisition of customers through social media channels and represents the first formal FINRA Enforcement disciplinary action involving a firm’s supervision of social media influencers.

Key Points: 
  • This case arises from FINRA’s targeted exam of firm practices related to the acquisition of customers through social media channels and represents the first formal FINRA Enforcement disciplinary action involving a firm’s supervision of social media influencers.
  • “As investors increasingly use social media to inform their financial decisions, FINRA’s rules on communicating with the public are especially critical.
  • M1 Finance also provided its influencers with graphics and a “Welcome Guide” that described specific services and features available through M1 Finance that influencers could highlight to make their social media posts more effective.
  • For example, an influencer advertising M1 Finance’s margin lending program stated that customers could “pay [margin loans] back at any given time .