MML Investors Services, a subsidiary of MassMutual Holdings, has settled charges with the Securities and Exchange Commission (SEC) over allegations of delayed disclosures. The disclosures that MML Investors Services delayed making included customer complaints and arbitrations, criminal charges and bankruptcies. The SEC alleged that MML failed to promptly disclose material information about its brokers, which is required by law.
Under the settlement, MML agreed to pay a $350,000 penalty and to cease and desist from committing any future violations of the reporting provisions of the federal securities laws. MML neither admitted nor denied the SEC's findings.
The most recent Form 13F filing that MML Investment Services LLC has submitted to the SEC shows that the firm manages over $17 billion in assets. The filing discloses the firm's holdings of publicly traded securities as of the end of the third quarter.
MML Investment Services LLC decreased the number of Skyworks Solutions, INC (NASDAQ: SWKS) owned during the third quarter, as stated in the 13F filing. The firm sold 39,485 shares, reducing its position by 16.47%.
Ivan Illán has joined LPL Financial as a Hybrid RIA with the launch of Aligne Wealth Advisors Investment Management (AWAIM®). Illán was previously affiliated with MML Investors Services, where he was a senior financial advisor.
In a recent case, a former MML broker was barred by the Financial Industry Regulatory Authority (FINRA) for allegedly pressuring clients into buying unsuitable, high-commission insurance products. The broker was terminated by MML in March 2019.
OnPoint Industrial Services, a company headquartered in Houston, Texas, specializes in industrial safety. The firm recently announced that it has secured a $20 million equity investment from MML Investors Services.
MML Investors Services is a dually registered investment advisor and broker/dealer. As a broker/dealer, MML is regulated by FINRA, while as an investment advisor, it is regulated by the SEC.
In 2019, MML Investors Services was ranked as the 46th largest independent broker-dealer in the United States by revenue, according to InvestmentNews' annual survey.
Finding the right financial advisor can have a profound impact on your financial future. Luckily, these experts are here to help. MML Investors Services offers a wide range of financial planning and investment services to help clients achieve their goals.
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