Tagged with "adviser"

LPL Implements New Policy to Put Pressure on Affiliates to Recruit Advisers to its Corporate Registered Investment Adviser

Posted on September 27th, 2017 at 10:12 AM
LPL Implements New Policy to Put Pressure on Affiliates to Recruit Advisers to its Corporate Registered Investment Adviser

LPL Financial has announced in a memo that it is instituting a new policy which will affect advisers who want to use outside RIAs instead of LPL’s corporate RIA.

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New Jersey Adviser Accused of Running a Ponzi Scheme to Fund Gambling Habit

Posted on September 25th, 2017 at 3:39 PM
New Jersey Adviser Accused of Running a Ponzi Scheme to Fund Gambling Habit

The SEC has filed a lawsuit against adviser Scott Newsholme of Farmingdale, New Jersey for allegedly defrauding elderly clients in a $1 million Ponzi-like scheme.

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SEC Obtains Emergency Court Order to Freeze Assets of a Former LPL Adviser

Posted on September 20th, 2017 at 10:56 AM
SEC Obtains Emergency Court Order to Freeze Assets of a Former LPL Adviser

The United States District Court for the District of Colorado has issued an emergency court order to freeze all assets of former LPL adviser, Sonya Camarco along with her investment companies, Camarco Investments Inc. and Camarco Living Trust.

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Adviser Likely to Appeal Prison Sentence and 7.5 Million Restitution Payment to NBA Star

Posted on August 4th, 2017 at 9:57 AM
Adviser Likely to Appeal Prison Sentence and 7.5 Million Restitution Payment to NBA Star

In June, a federal judge in the Texas Western District Court in San Antonio, Texas sentenced Charles Augustus Banks IV to 4 years in prison and ordered him to pay $7.5 million in restitution to his former client, former NBA player Tim Duncan.

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Adviser Defrauds Clients of $10M by Blaming Losses on the 2016 Election, Brexit and Falling Oil Prices

Posted on July 11th, 2017 at 10:30 AM
Adviser Defrauds Clients of $10M by Blaming Losses on the 2016 Election, Brexit and Falling Oil Prices

New York Attorney General Eric Schneiderman has filed a complaint against adviser Dean Mustaphalli, accusing him of defrauding his clients out of millions. 

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Stephany McLaughlin Shares Her Input OnWallStreet

Posted on December 23rd, 2016 at 11:58 AM
Stephany McLaughlin Shares Her Input OnWallStreet

Recently, Stephany McLaughlin shared her thoughts on former Southwest Securities adviser Kimberly Rose and her journey through arbitration.

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Ex-Wells Fargo Adviser Receives 2-Year Suspension

Posted on December 9th, 2016 at 10:28 AM
Ex-Wells Fargo Adviser Receives 2-Year Suspension

FINRA has charged a former Wells Fargo adviser named Jack Donnarumma from White Plains, New York, with allegedly misrepresenting himself as a Wells Fargo personal banker and bank officer when in fact he was only an adviser. 

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Three Advisers in Hot Water with the CFP Board

Posted on November 9th, 2016 at 9:51 AM
     Three Advisers in Hot Water with the CFP Board

The CFP Board found that adviser Charles Zsarnay of Toledo, Ohio,allegedly copied certain individual drivers’ licenses in violation of Ohio law and failed to promptly disclose to his firm that he had been charged with a felony. 

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LATEST NEWS AND ARTICLES

August 16, 2022
SEC Warns Financial Advisory Firms Regarding Conflicts of Interest Tied to Compensation

The Securities and Exchange Commission (SEC) has sent a warning to financial advisory firms that they must go above and beyond solely disclosing conflicts of interest related to employee pay programs in order to avoid regulatory scrutiny. 

August 15, 2022
FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices

The Financial Industry Regulatory Authority (FINRA) has filed proposed changes to FINRA Rule 3110 with the Securities and Exchange Commission (SEC).

August 12, 2022
SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.