In a significant development in the GPB Capital fraud litigation, several audit firms have agreed to pay a combined $46 million to settle claims tied to their alleged involvement in the $1.8 billion scheme that impacted roughly 15,000 investors, as reported by DI Wire.
The Financial Industry Regulatory Authority (FINRA) has fined and suspended former broker Thomas Vigil for making unsuitable variable annuity recommendations that resulted in customers paying higher fees.
Two former top executives at GPB Capital Holdings received prison sentences for their roles in a years-long investment fraud scheme.
New York’s Attorney General announced the arrest of Miles Burton Marshall, an upstate New York tax preparer and insurance agent accused of orchestrating a decades-long Ponzi scheme that defrauded nearly 1,000 investors out of more than $50 million.
Joseph A. Eisler has agreed to a permanent ban from the brokerage industry, according to a recent settlement with the Financial Industry Regulatory Authority (“FINRA”).
The CFP Board of Directors has approved a $120 increase to the annual certification fee for CFP® professionals, raising the total to $575.
A retiree has filed a lawsuit accusing Charles Schwab & Co. and Hightower Advisors of financial elder abuse, fraud, and breach of fiduciary duty.
The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former advisor for what FINRA alleged were excessively risky investments that left clients exposed to significant losses.
UBS Wealth Management USA has filed a petition in federal court to vacate a nearly $95 million FINRA arbitration award, arguing the decision overstepped legal bounds and imposed punitive damages that defy Iowa law, as reported by AdvisorHub.
A federal jury in Massachusetts has found investment advisor Jeffrey Cutter and his firm, Cutter Financial Group, liable for failing to disclose significant commissions and conflicts of interest tied to an annuity replacement strategy sold to clients.
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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.
