Former Edward Jones financial advisor, Bernard Parker was sentenced to 87 months in federal prison for running a six-year $1.2 million Ponzi scheme.
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Former Edward Jones financial advisor, Bernard Parker was sentenced to 87 months in federal prison for running a six-year $1.2 million Ponzi scheme.
Morgan Stanley has announced that it has pulled out of the Protocol for Broker Recruiting (“Protocol”) and thereafter any broker moving to another firm will be subject to its one-year non-solicitation agreement.
As you know, your firm has withdrawn as a member of the Protocol for Broker Recruiting. Now what are your rights?
Wells Fargo Advisors has filed a lawsuit against former broker, Robert D. Meyers and his son, Mathew Meyers in order to prevent them from contacting former customers in an effort to recruit them to their new registered investment adviser firm in Columbus, Ohio.
The SEC has barred Massachusetts portfolio manager, Kevin J. Amell for allegedly diverting at least $1.95 million to his personal brokerage account from a fund over which he had trading authority for his clients.
According to financial industry experts, new financial advisers are having difficulty navigating the discrepancies between states in terms of the way regulators are allowing them to charge their clients’ fees for services.
The SEC has asked a Texas federal court to order two California companies, Team Resources, Inc. and Fossil Energy Corp. to disgorge $17 million of the proceeds of an alleged fraudulent scheme.
The SEC has awarded a whistleblower $1 million for reporting information that helped the agency successfully prosecute a registered entity that harmed retail customers.
FINRA has fined Wells Fargo Clearing Services LLC and Wells Fargo Advisors more than $3.4 million in restitution for selling customers “unsuitable” exchange-traded products (ETPs) and for its failure to supervise reps.
Former investment adviser, Richard G. Cody, of Jacksonville, Florida has been indicted for allegedly defrauding Massachusetts retirees, as well as for lying to the SEC under oath.
Amidst swirling speculation regarding its connections with a client linked to the Prophecy Asset Management collapse, B. Riley Financial Inc. has conducted an internal
review, concluding no affiliations with the defunct hedge fund.
A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investment advisor (RIA)
insurers.
According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.