A prominent Morgan Stanley advisor has accepted a 45-day suspension and a $10,000 fine for unauthorized money transfers and using personal communication channels for business-related texts, according to a FINRA settlement letter known as an Acceptance, Waiver, and Consent (“AWC”).
InvestmentNews recently covered the sluggish start to nontraded real estate investment trust (REIT) sales in the current year, observing that the slump reflects the challenges facing commercial real estate investors, hinting at potential devaluation in certain REITs, especially net asset value (NAV) products.
A recent settlement between a Florida-based brokerage firm and the Financial Industry Regulatory Authority (FINRA) has drawn attention to the importance of retaining
business-related text messages and conducting due diligence on private placement offerings.
Financial advisors often partner with other financial advisors, but how they document the arrangement is critically important.
A federal judge has issued a restraining order against two Raymond James advisors, preventing them from contacting their former clients at TD Bank.
Eddy Ray Blizzard, a former financial advisor, has been sentenced to 3.5 years in federal prison for stealing nearly $1 million from an elderly client.
A FINRA arbitration panel ruled against advisor Nicole E. Sennett for allegedly attempting to solicit former clients after selling her practice to Monocacy Wealth Partners.
The Internal Revenue Service (IRS) has concluded its annual Dirty Dozen campaign, spotlighting the most egregious tax scams. According to WealthManagement.com, this year's focus includes schemes aimed at high-net-worth individuals (HNWI).
FinancialPlanning.com recently asked, “How much liability can a firm have for the actions of third-party vendors or clients?” This question has surfaced in various legal
contexts, most recently in a lawsuit against Wells Fargo, which faces allegations of failing to detect a $300 million Ponzi scheme perpetrated by a client.
Merrill Lynch has begun enhancing its recruitment efforts- now offering headhunters a 10 percent referral fee, up from 8 percent, for successful placements. This increase targets 34 specific markets, including key locations like Los Angeles and certain rural areas outside the Bank of America footprint in an attempt to attract veteran advisors.
You were most helpful with my FINRA deposition. You are a good lawyer and a good person.
LPL Financial and Ameriprise Financial Services recently notified certain clients about separate cybersecurity incidents that exposed private information and, in one case, led to unauthorized trading activity.
A federal bankruptcy court in Fort Worth has ordered Emerson Equity to produce documents connected to the sale of private securities issued by Inspired Healthcare Capital, according to InvestmentNews.
Concorde Investment Services is facing increased scrutiny following the bankruptcy of Inspired Healthcare Capital, whose private investment offerings were widely sold through independent broker dealers, according to InvestmentNews.
