The criteria defining who qualifies as an "accredited investor" has not seen inflation adjustments for four decades, resulting in a significant increase in households meeting this definition.
Wells Fargo & Co. recently terminated over a dozen employees following an investigation into allegations of fake work activities.
The Financial Industry Regulatory Authority’s (FINRA) attempt to update its rules on advisors’ outside business activities has stalled, according to Robert Colby, FINRA's chief legal officer.
Victims of Bernie Madoff's Ponzi scheme, Christopher and Silvana Pascucci, cannot claim an $8.2 million tax deduction for their investment in life insurance premiums.
Merrill Lynch has reached an $825,000 settlement with FINRA over allegations of inadequate supervision concerning retail orders and recordkeeping practices dating back to 2017.
The Securities and Exchange Commission (SEC) has issued a new Risk Alert, advising broker-dealers that their prior disciplinary history, financial stress indicators, and media reports could make them likely candidates for an examination.
Oppenheimer & Co. has agreed to a $500,000 fine to settle allegations made by FINRA regarding inadequate supervision of certain trades conducted by its advisors directly with fund companies on behalf of customers.
Multiple regulatory agencies, including the U.S. Securities and Exchange Commission (SEC) and the Office of the Comptroller of the Currency (OCC), are conducting investigations into Morgan Stanley's wealth management division, as reported by the Wall Street Journal.
In a recent FINRA arbitration, an investor was awarded close to $100,000 due to unsuitable investments in GWG L bonds purchased in 2018 and 2020.
The U.S. Securities and Exchange Commission (SEC) has taken legal action against Robert M. Thompson and Financial Freedom Foundation (F3 Mastermind), a private entity under his control, for allegedly defrauding investors through three securities offerings.
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The Financial Crimes Enforcement Network (FinCEN) has imposed a $125 million civil money penalty against UBS Financial Services Inc.
The Financial Industry Regulatory Authority (FINRA) suspended a former UBS Wealth Management USA broker for three months and fined him $10,000 after finding that he executed hundreds of trades in two customers' accounts without the required written authorization.
