A federal bankruptcy judge in Houston has approved $91.3 million in settlements from several professional firms, company founders, and former executives tied to the collapse of GWG Holdings Inc.
A former LPL Financial advisor has agreed to an eight-month suspension and a $5,000 fine after the Financial Industry Regulatory Authority (FINRA) found he improperly named his immediate family members as beneficiaries on a client’s accounts without firm approval.
Michael J. Collins, the former chief marketing officer of the CFA Institute, has been accused of embezzling nearly $5 million from the financial education organization through a long-running fraud scheme designed to fund a lavish personal lifestyle.
A former San Diego-based advisor has filed a second lawsuit against Prime Capital Financial, alleging breach of contract after the firm failed to honor agreed-upon terms related to his equity buyout.
Federal authorities have charged a Wisconsin man with orchestrating a multimillion-dollar Ponzi scheme that defrauded more than 120 investors over six years.
The Financial Industry Regulatory Authority (“FINRA”) is moving forward with a proposal that would give broker-dealers limited ability to market performance projections and targeted returns under specific conditions.
The SEC has permanently barred Brite Advisors USA from operating as an investment adviser, citing serious custody rule violations and undisclosed conflicts of interest tied to its offshore affiliate, as reported by Financial Advisor News.
UBS Group AG has confirmed that a cyberattack on one of its third-party suppliers resulted in stolen company information, though no client data was compromised.
Two former advisors from Edge Capital Group have filed a federal lawsuit challenging what they describe as excessively restrictive employment agreements following their departure amid a major merger.
The Maryland Securities Commissioner has barred financial advisor Timothy Pickett and his firm, Blue Anchor Capital Management, from operating in the securities industry within the state.
I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.
UBS Group AG has begun liquidating two invoice finance funds with direct exposure to First Brands Group, marking one of the earliest moves by a major financial institution to contain the fallout from the bankrupt auto-parts supplier’s collapse, as reported by Bloomberg Law.
Federal prosecutors have intensified scrutiny of the long-running collapse of GWG Holdings Inc., unveiling criminal charges against Bradley Heppner, the former chair of both GWG and Beneficient.
A financial advisor affiliated with a credit union connected to Raymond James Financial agreed to an industry bar after declining to cooperate with FINRA’s investigation into allegations that he misappropriated client funds.
