A federal judge has denied Merrill Lynch's second attempt to compel Dynasty Financial Partners to arbitrate a high-profile dispute arising from allegations that the registered investment adviser (RIA) platform orchestrated the departure of a large Atlanta-based advisory team, according to AdvisorHub.
Merrill Lynch has agreed to pay a $225,000 fine and accept a censure to resolve allegations that it failed to properly identify and report more than 1,600 customer complaints submitted through post-call surveys, according to a Financial Industry Regulatory Authority (FINRA) Acceptance, Waiver and Consent letter ("AWC").
FINRA has disciplined a former Merrill Lynch representative after determining that he issued inaccurate and misleading statements about a client’s financial ability to complete a home purchase.
Financial advisors are placing more client assets into digital currencies, even as major firms caution investors about the asset class's volatility and speculative nature.
Merrill Lynch has warned that the expanded use of artificial intelligence and machine learning introduces material operational, compliance, and cybersecurity risks for advisory firms.
Merrill Lynch updated its required client disclosure brochure to address, for the first time, the evolving risks tied to cryptocurrency-linked investments and the firm’s expanding use of Artificial Intelligence tools.
The Financial Industry Regulatory Authority (FINRA) issued a six-month suspension and a $7,500 fine against former Merrill Lynch broker Jeremiah Householder after finding that he accepted referral commissions from an unapproved third-party lender.
A federal judge has rejected Merrill Lynch’s request for a temporary restraining order (TRO) against a group of former financial advisors who left the firm to launch their own independent practice, OpenArc Corporate Advisory, under Dynasty Financial Partners’ platform with custody at Charles Schwab.
A dozen former Merrill Lynch advisors who launched their own firm, OpenArc Corporate Advisory, in Atlanta are pushing back against accusations that they orchestrated a “pre-meditated corporate raid.”
The Financial Industry Regulatory Authority (FINRA) has initiated disciplinary proceedings against former Merrill Lynch broker Ali F. Chehab of Portland, Oregon. According to ThinkAdvisor, FINRA alleges that he refused to cooperate in an investigation into potential misconduct, including unauthorized trading and material misrepresentations to clients.
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A financial advisor allegedly exploited a client's grief over the deaths of her father and husband, showering her with attention before persuading her to hand over millions of dollars in gifts, according to reporting by InvestmentNews.
Washington state securities regulators have charged an Austin, Texas registered investment adviser (RIA) and its founder with making misleading statements about the risks tied to one of its model portfolios, which invested heavily in crypto-backed products and volatile exchange-traded funds, according to InvestmentNews.
Guggenheim Partners CEO Mark Walter has sold his majority stake in the Los Angeles Lakers just as federal regulators investigate potential financial improprieties at insurance and annuities companies that he owns, InvestmentNews reports.
