A Georgia Superior Court judge has vacated an arbitration award that Wells Fargo had obtained nearly 3 years ago involving a client who sued the firm for mismanaging his account and, in doing so, has rocked the industry with sweeping, serious allegations of misconduct and conspiracy.
The Financial Industry Regulatory Authority (FINRA) has issued a 10-day suspension and a $2,500 fine against another former Morgan Stanley advisor over an alleged miscoding of trades on inherited accounts.
Stephens, Inc. has won nearly $18.2 million in an arbitration claim against Benjamin Edwards & Company over the raiding of an Arkansas branch.
The Financial Industry Regulatory Authority (FINRA) has barred a former Bank of America advisor after he allegedly forged a client’s signature and misappropriated $58,000 of client funds.
An alternative asset manager that had issued a collection of high-yield bonds known as L Bonds, GWG Holdings Inc., has struggled to cover its interest payments.
The U.S. Supreme Court has reversed an appellate court’s decision involving Northwestern University, which may impact numerous other pending lawsuits that target retirement plans with underperforming investments and excessive fees.
The Financial Industry Regulatory Authority (FINRA) has suspended a former Edward Jones advisor who allegedly borrowed $150,000 from a client to cover debts incurred by an unprofitable golf-cart business operated by he and his wife.
The Securities and Exchange Commission (SEC) has charged a former UBS advisor, German Nino, for allegedly misappropriating $5.8 million of client funds.
Massachusetts securities regulators have filed suit against Fidelity Brokerage Services alleging unethical practices relating to the firms’ rubber-stamping of options trading applications.
Hightower Advisors has filed suit against two advisors for allegedly soliciting their clients to join them at their new firms.
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Mariner Wealth Advisors LLC disclosed a data breach that exposed personal information of 8,995 customers, according to AdvisorHub.
Financial Industry Regulatory Authority (FINRA) regulators are raising concerns about the increasing influence of social media personalities and artificial intelligence (AI) on retail investors, particularly those managing their own investments without professional guidance.
A former regional branch manager at a broker-dealer has agreed to Financial Industry Regulatory Authority (FINRA) sanctions after the regulator found that he failed to supervise registered representatives who engaged in excessive trading and churning of customer accounts.
