FINRA has ordered Bank of America Merrill Lynch to pay $800,000 in compensatory damages to two brokers who were owed compensation by the firm when they were fired without cause.
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FINRA has ordered Bank of America Merrill Lynch to pay $800,000 in compensatory damages to two brokers who were owed compensation by the firm when they were fired without cause.
An arbitration award revealed that two UBS advisors in Philadelphia, Elijah Dornstreich and Ryan DePaul, are required to pay approximately $334,000 in damages, legal fees, and costs to their former firm, AllianceBernstein, due to a dispute over customer solicitation.
The U.S. Securities and Exchange Commission (SEC) has taken action against two money managers, Delphia (USA) Inc. and Global Predictions Inc., for allegedly making false and misleading statements regarding their utilization of artificial intelligence (AI) technology.
In a legal battle between a former advisor and Hightower Holdings, a Washington state court has issued a temporary restraining order (TRO) against the Chicago-based firm.