According to a study conducted by the New York University Pollack Center for Law & Business and Cornerstone Research, there has been an uptick in enforcement actions taken by the SEC against public companies and subsidiaries in the second half of this year.
According to a recent report issued by industry consultant Cerulli; independent broker-dealers (IBDs) have posted the highest compound annual growth rate in the last five years in comparison to any other type of broker-dealer.
UBS Financial Services is facing a claim from a customer that it failed to supervise one of its former brokers, Alex G. Herrera of Coral Gables, Florida.
Since UBS and Morgan Stanley’s decision to pull out of the Protocol for Broker Recruiting last year, the number of advisors departing those firms appears to have slowed. This is good news for Morgan Stanley and UBS which want to reduce recruiting costs and instead focus on the growth of their advisors’ book of business through investments in technology.
UBS has announced that will replace the non-solicitation language that was introduced in its 2017 bonus agreements with a standard, but still onerous, 12-month non-solicitation provision.
Robert W. Baird has announced that it has acquired Louisville, Kentucky-based Hilliard Lyons Brokerage along with Hilliard Lyons Trust Co.
In March 2016, the SEC filed a complaint in federal court against Oregon based registered investment adviser, Aequitas Investment Management, and its sister company Aequitas Capital Management, accusing the firms of orchestrating widespread fraud. The federal court granted the SEC’s request to install Ronald Greenspan as a receiver to oversee the company.
Ohio National’s decision to stop trail payments has started a wave of legal actions — and this is before the change is set to take effect on Dec. 12, 2018.
The SEC has filed charges in Salt Lake City, Utah against businessmen J.T. Bramlette, Anthony Hartman, Travis Kozlowski and Aaron Wernli for carrying out a long-running and complex fraud on individuals who invested in the Melrose Resort on Daufuskie Island, South Carolina.
The SEC’s whistleblower program has been an important tool for individuals since 2011. The awards are distributed from an investor protection fund established by Congress. To obtain an award, the whistleblower’s information must be unique, useful and lead to a successful enforcement action.
