Tricolor Holdings, a subprime auto lender that combined used-car sales with high-interest financing for borrowers with limited or no credit history, has collapsed into bankruptcy amid a federal investigation into alleged fraud.
JPMorgan Chase & Co. failed in its effort to block an 85-year-old widow from pursuing claims in FINRA arbitration over allegations that the bank failed to prevent her son from siphoning more than $8 million from her accounts.
The Securities and Exchange Commission (SEC) has charged Daryl F. Heller of Pennsylvania, along with his companies Prestige Investment Group, LLC, and Paramount Management Group, LLC, for operating a Ponzi scheme that caused investor losses of roughly $400 million.
Mercer Advisors has strengthened its presence in the West by acquiring two registered investment advisory firms with offices in Oregon, Idaho, and Southern California.
A New Jersey resident has filed suit against a financial advisor, his firm, two insurance companies, and other parties over losses tied to a premium financing arrangement for life insurance.
The Securities and Exchange Commission (SEC) has censured and fined Vanguard Advisers $19.5 million, alleging the firm failed to properly disclose financial incentives tied to its Personal Advisor Services (PAS) program.
The Securities and Exchange Commission (SEC) has released its Spring 2025 Unified Agenda of Regulatory and Deregulatory Actions, signaling a sweeping shift in rulemaking priorities.
Federal regulators say thousands of investors may have lost money in what they allege was a massive Ponzi scheme tied to the Prestige Funds and WF Velocity Funds.
The Financial Industry Regulatory Authority (FINRA) has suspended Joseph Kelly, a broker at Spartan Capital Securities, for nine months and ordered him to pay a $10,000 fine and $69,830 in restitution.
The role of the chief compliance officer (CCO) has never carried more weight or more complexity, according to Wealth Management.
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The Financial Industry Regulatory Authority (FINRA) has approved significant amendments to its Codes of Arbitration Procedure designed to rebalance public arbitrator selection, increase transparency, and formalize several long-standing practices in the arbitration forum.
Several industry associations are urging the U.S. Senate to pass the Financial Exploitation Prevention Act, legislation that would allow mutual fund companies and their transfer agents to delay redemptions when they reasonably suspect elder financial abuse.
A UBS report signals that credit stress likely will intensify next year as borrowers confront inflation, elevated interest costs, and softening consumer conditions.
