Financial crimes

The company's outgoing CFO discussed ways the asset cap is stunting growth, but provided no updates at an industry conference on when the restriction might be lifted or the types of jobs it will cut.

The broker hasn't been registered in over a decade, and was using clients’ usernames and passwords to make trades in their self-directed brokerage accounts, according to the regulator.

The former broker allegedly also used his client’s money to pay bills at gas stations, grocery and hardware stores, according to the regulator.

After an SEC lawsuit, Dan Kamensky now faces criminal charges including securities fraud, extortion and obstruction of justice.

The advisor sold securities out of one account to buy a Camaro ZL1 — then resold the car to the same victim, the regulator alleges.

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

The executive shuffle at the company continues as Credit Suisse America’s Paula Dominick is hired to replace Mike Roemer as chief compliance officer. It also hired or promoted four line-of-business chief risk officers and an enterprise testing leader.

The firm will also pay a penalty and offer to buy back variable annuities the former broker sold to 21 other investors.

During rapid growth, the firm allegedly failed to detect a cascade of red flags.

To thwart a multifactor verification system, he once used a victim’s home phone to authorize transactions.

Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank.

After the client died at age 98, the advisor allegedly moved on to bilk another elderly investor, authorities say.

The onetime CFP pleaded guilty to violating his parole after previously avoiding prison time through a plea deal in 2018.

The advisor had been previously arrested at the airport prior to boarding a flight.

After serving 18 months in jail, Craig Rothfeld knew “other people would need help too.”

A watchful planner might have saved a matriarch’s IRA from being allegedly pillaged by her son.

Five years of alleged promises, checks that never arrived, and a mysterious employee named “Tryg Nederloe” add up to a bizarre saga with wide ramifications.

The major custodian lost its second arbitration case — with even more filings likely — over the services it provided to a brokerage later proved to be engaged in massive fraud.

The settlement marks the bank’s largest yet from a series of scandals that claimed two chief executive officers.

The former investment advisor, convicted of running one of the biggest Ponzi schemes ever, says he suffers from terminal kidney failure and other ailments.