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.
The Commodity Futures Trading Commission (CFTC) is investigating major Wall Street banks to determine if their non-disclosure agreements (NDAs) are preventing potential whistleblowers from reporting violations.
Registered Investment Advisors (RIAs) are facing a pivotal moment as they gear up to comply with the Securities and Exchange Commission's (SEC) Private Fund Advisers Rules, with the most stringent requirements set to take effect later this year and early in 2025.
The criteria defining who qualifies as an "accredited investor" has not seen inflation adjustments for four decades, resulting in a significant increase in households meeting this definition.
Wells Fargo & Co. recently terminated over a dozen employees following an investigation into allegations of fake work activities.
The Financial Industry Regulatory Authority’s (FINRA) attempt to update its rules on advisors’ outside business activities has stalled, according to Robert Colby, FINRA's chief legal officer.
Victims of Bernie Madoff's Ponzi scheme, Christopher and Silvana Pascucci, cannot claim an $8.2 million tax deduction for their investment in life insurance premiums.
Merrill Lynch has reached an $825,000 settlement with FINRA over allegations of inadequate supervision concerning retail orders and recordkeeping practices dating back to 2017.
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Cybercriminals continue to refine account takeover schemes, driving billions of dollars in losses for businesses and consumers each year.
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Arkadios Capital to pay $2.7 million in damages to an investor who alleged the firm failed to supervise a former registered representative whose father operated a long-running Ponzi scheme, according to InvestmentNews.
The Securities and Exchange Commission (SEC) has censured a former LPL Financial broker and imposed a $125,000 civil penalty after finding that he failed to disclose conflicts of interest related to private real estate securities offerings that generated nearly $1.5 million in compensation, as reported by AdvisorHub.
