A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Morgan Stanley to pay $7.8 million after its improperly recruited two financial advisors from Charles Schwab in 2019.
Prospect Floating Rate and Alternative Income Fund Inc. (“Prospect”) announced in its most recent quarterly report submitted to the Securities and Exchange Commission (SEC) that “there is substantial doubt about the company’s ability to continue as a going concern” for at least one year after February 13, 2023.
The Securities and Exchange Commission’s (SEC’s) Examinations Division will target advisors’ recommendations of complex derivatives and leveraged ETFs, as well as annuities and nontraded REITs in Regulation Best Interest (Reg BI) investigations in 2023.
A federal judge has denied Edward Jones’ request to restrict an Illinois-based advisor from contacting his former clients after departing for Ameriprise.
Hightower Advisors has filed suit against a Texas-based advisor, James McGinness, for allegedly misappropriating confidential client information and improperly soliciting his former clients in violation of his employment agreement.
Hartman vREIT XXI announced that its sponsor, Hartman Income REIT Management, has indefinitely suspended investor distributions.
The Securities and Exchange Commission (SEC) has agreed to a settlement with Centaurus Financial, branch manager Ricky Mantei, and financial advisor Atul Makharia over unsuitable recommendations of variable interest rate structure products (VRSPs) to certain retail customers.
U.S. Department of Justice (DOJ) prosecutors have launched a criminal investigation into Silvergate’s dealings with FTX and Alameda Research, including Silvergate’s hosting of accounts tied to Sam Bankman-Fried’s businesses.
After Las Vegas investigative reporter Jeff German was killed outside his home in September 2022, The Washington Post and the Las Vegas Review-Journal collaborated to complete one of the stories German had planned to pursue prior to his death.
The Financial Industry Regulatory Authority (FINRA) has suspended two New York-based advisors for violating Regulation Best Interest (Reg BI).
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Artificial Intelligence (AI) continues to dominate headlines, promising sweeping efficiencies in nearly every industry. Financial Planning reports that financial advisors remain divided on its role and value.
The Easterly ROCMuni High Income Municipal Bond Fund (tickers RMHIX, RMHVX, RMJAX) suffered a significant collapse in mid-2025, wiping out hundreds of millions in value and leaving many investors with steep losses.
FINRA has suspended a Centaurus Financial broker, William Burks, for four months after finding he placed as much as 91 percent of a client’s net worth into illiquid alternative investments.
