A $6 million advisor team led by Wade Martin left Morgan Stanley to join RBC Wealth Management-U.S. in October 2020.
A $6 million advisor team led by Wade Martin left Morgan Stanley to join RBC Wealth Management-U.S. in October 2020.
The U.S. Securities and Exchange Commission (“SEC”) has filed a lawsuit against Eric C. Malley, and his company MG Capital Management L.P.
The U.S. Securities and Exchange Commission (“SEC”) has filed a lawsuit against DeAndre P. Sears and his company MASears LLC, also known as Picasso Group
Matthew T. Shafer, a former advisor for Morgan Stanley Wealth Management, has filed a putative class action against Morgan Stanley, AdvisorHub reported.
In a settlement with the Texas State Securities Board, Brooklynn Chandler Willy agreed to pay $2.75 million and have her license as an investment adviser representative suspended for one year.
Convenience store chain Wawa has agreed to pay $21.6 million to settle a 2018 class-action lawsuit regarding the company’s employee stock option plan (“ESOP”). The settlement is still pending court approval. Wawa previously paid $25 million to settle a class-action lawsuit in 2016 that involved similar allegations relating to Wawa’s ESOP.
UBS Wealth Management USA has filed a lawsuit against former advisor, Alexandra VanMeurs. After 13 years at UBS, VanMeurs left the firm in May to join Morgan Stanley. UBS is seeking to enjoin VanMeurs from calling clients she serviced at UBS. Although such lawsuits are not uncommon in the industry, the case has an interesting twist.
This is the first in a series which highlights an InvestmentNews article concerning the recent uptick in the sale of unregistered securities and how those transactions have resulted in the proliferation of fraudulent schemes.
Franklin Templeton Investments has agreed to pay approximately $14 million to settle a 2016 class-action lawsuit filed in the U.S. District Court for the Northern District of California.
In an unprecedented move, Ohio National Life Insurance Company (Ohio National) announced that starting mid-December the company will be terminating its selling agreements with brokerage firms and ceasing payments on all brokers’ trail commissions on variable annuity sales.