Mariner Wealth Advisors has recently become the target of multiple lawsuits from competitors, including Edelman Financial Engines, Avantax, and RWA Wealth Partners.
New York Attorney General Letitia James has shifted away from her filing a politically motivated action to now file a lawsuit against Citibank, accusing the bank of
inadequately safeguarding customers from online banking scams and refusing to reimburse victims.
LPL Financial has agreed to pay over $6 million to settle charges by FINRA, alleging violations of Regulation Best Interest in recommending trades involving certain listed business development companies.
A former Wells Fargo advisor, Robert J. DeHayes, faced fines and suspension from the Financial Industry Regulatory Authority (FINRA) for maintaining an undisclosed outside brokerage account in his wife's name.
Jim Eccleston was recently quoted in a Financial Advisor IQ article concerning an ex-Hightower advisor suing to escape covenants.
Lincoln L. Mason has agreed to a 90-day suspension and a $5,000 fine following allegations of deceiving the firm into leasing office space he owned.
Brent Seaman of Naples, Florida, has accepted a settlement in an SEC civil action, admitting to acting as an unregistered broker or dealer in the sale of securities for Accanito Equity, LLC, Accanito Equity II, LLC, Accanito Equity III, LLC, and Accanito Equity IV, LLC, from June 2019 to September 2022.
John A. Dougherty, a veteran advisor with 23 years of experience, agreed to an AWC (Acceptance, Waiver, and Consent) after refusing to cooperate with a regulatory investigation into allegations of undisclosed outside business activities.
While rating agencies like Fitch and S&P Global Ratings generally highlight the strength of annuity issuers, advisors still should scrutinize certain factors in their assessment process.
As reported by the Wall Street Journal, the Securities and Exchange Commission (SEC) has charged Morgan Stanley & Co. LLC and its former head of equity syndicate desk, Pawan Passi, with a multi-year fraud involving the disclosure of confidential information related to block trades.
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The Securities and Exchange Commission (SEC) has approved FINRA's long-awaited overhaul of the rules governing outside business activities and private securities transactions by financial advisors.
A federal judge has sentenced Siddharth Jawahar, who operated Texas-based investment adviser Swiftarc Capital, to 11 years in prison for running a $35 million Ponzi scheme.
Investors considering pre-IPO investments should watch for common warning signs of fraud, according to the Securities and Exchange Commission (SEC).
