Morgan Stanley is seeking a temporary restraining order (TRO) in an effort to block two of its former New-Jersey based advisors from soliciting clients whom they inherited via the firm’s Former Advisor Program (FAP).
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Morgan Stanley is seeking a temporary restraining order (TRO) in an effort to block two of its former New-Jersey based advisors from soliciting clients whom they inherited via the firm’s Former Advisor Program (FAP).
Hightower Advisors has filed suit against two advisors for allegedly soliciting their clients to join them at their new firms.
J.P. Morgan Chase’s brokerage business has requested that a Louisville, Kentucky, federal court issue a temporary restraining order (TRO) barring one of its former advisors from soliciting its clients.
A federal judge has rejected a former J.P. Morgan advisor’s unusual bid to halt private bankers at her prior firm from soliciting her clients in a “high-stakes” client poaching case.
A New York state judge is considering whether to grant Morgan Stanley’s request for a temporary restraining order (TRO), which would bar two advisors from soliciting former clients at their new firm.
After filing for a TRO in early June, Merrill Lynch has elected to dismiss a federal lawsuit against a Maryland-based team that left for RBC Wealth Management.
J.P. Morgan Securities (J.P. Morgan) has asked the court to issue a temporary restraining order (“TRO”) barring Gabriel Gomez from soliciting his clients and using customer contact information.
The U.S. Securities and Exchange Commission announced that it had obtained a temporary restraining order (“TRO”) against Paul Horton Smith, Sr. in an effort to halt an on-going Ponzi scheme. The SEC said that it also froze Smith’s assets. According to the SEC, Smith was running a Ponzi scheme that targeted senior citizens in Southern California. The SEC alleged that Smith used eGate, LLC, his investment advisory firm, and Planning Services, Inc., his insurance and estate planning company, to market securities in another one of his companies, Northstar Communications, LLC.
A federal court judge in Florida denied Regions Bank’s motion to reinstate a temporary restraining order (“TRO”) filed against the bank’s former financial advisors, Michael Montalvo and Mauricio R. Cardenas. Regions Bank sought a TRO in an effort to restrain Montalvo and Cardenas from soliciting former clients serviced at Regions Bank.
Following his termination from Investacorp, Ian James sued the firm alleging that the firm engaged in deceptive and unfair trade practices, among several claims. According to James, Investacorp told him that he would be terminated “for cause” unless he sold his book of business to another representative at Investacorp. If he sold his book to the advisor selected by Investacorp, he would be allowed to resign. According to James, the price that he was offered to sell his book of business as part of this deal was far below market value.
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.