The U.S Attorney for Maryland has announced that former Washington D.C. investment adviser representative, Dawn J. Bennett has been found guilty of 17 federal charges, including conspiracy, securities fraud and bank fraud.
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Former Investment Adviser Representative Convicted of Orchestrating a $20 Million Dollar Ponzi Scheme
Posted on October 19th, 2018 at 3:12 PM
Former Robert W. Baird Recruiter Files Lawsuit Against Firm
Posted on October 18th, 2018 at 2:08 PM
A former Robert W. Baird recruiter has filed a lawsuit in Colorado state court against his former firm for failing to pay him commissions, discriminatory and unfair employment practices, and breach of the covenant of good faith and fair dealing.
J.P. Morgan Seeks Restraining Order Against Advisor Who Left for Merrill
Posted on October 16th, 2018 at 10:40 AM
J.P. Morgan Securities is seeking a temporary restraining order against an advisor who defected for Merrill Lynch.
SEC Hiring Freeze Results in the Decline of RIA Examiners
Posted on October 15th, 2018 at 5:00 PM
Despite the fact that the number of SEC registered investment advisers has risen by more than 15 percent and assets under management by 40 percent, a 2017 hiring freeze has triggered an overall 5 percent decline in SEC staff.
Michigan-Based Investment Adviser Stole $2.7 Million from His Clients
Posted on October 12th, 2018 at 11:26 AM
The SEC has filed a lawsuit against Michigan-based investment adviser, Ernest J. Romer III for defrauding his clients, including many elderly retirees, out of more than $2.7 million.
After 1.75 Billion Acquisition of Genstar Capital, Cetera Financial Group Announces a New Alignment Program
Posted on October 11th, 2018 at 10:00 AM
Cetera Financial Group has announced a new alignment program in an effort to depart from its past industry compensation practices and raise its level of engagement for its 8,000 advisors. Cetera’s announcement proceeds the firm’s $1.75 billion acquisition of Genstar Capital.
Canada’s Government Pension Plan Invests $285 Million in Collateralized Loan Obligations
Posted on October 10th, 2018 at 2:07 PM
Canada’s government pension plan, Canada Pension Plan Board (CPPIB) is investing $285 million in collateralized loan obligations (CLOs) managed by Sound Point Capital Management, a New York-based credit hedge fund founded by former Bank of America investment banker Stephen Ketchum.
More Than 70 Teams and Solo Producers Have Changed Firms Since July 1st
Posted on October 9th, 2018 at 1:44 PM
Aggressive recruiting on behalf of regional brokerages has led to an uptick in advisors leaving wirehouses. Since July 1st alone, more than 70 teams and solo producers have changed firms.
SEC Obtains Court Order to Freeze Assets of Three Businessmen Accused of Orchestrating a Ponzi Scheme
Posted on October 8th, 2018 at 10:00 AM
The SEC has obtained a Maryland federal district court order to freeze the assets of three businessmen working out of Maryland, Deleware, and Texas who orchestrated a Ponzi scheme that raised more than $345 million from investors across the U.S.
University of Florida Study Demonstrates an Uptick of Unprofitable Companies in 2018 Filing IPOs
Posted on October 4th, 2018 at 11:52 AM
University of Florida finance professor, Jay Ritter has released a study examining the financial health of companies in 2018 before they filed Initial Public Offerings (IPOs) and compared the data to other years dating back to 1980.
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