Financial crimes

Even in the present deregulatory climate, the Treasury Department is pressing ahead with a rule to require advisors to screen for and report suspicious activity.

The SEC is investigating the bank for selling clients mutual funds that charge marketing fees when other, cheaper funds were available. SunTrust expects an enforcement action.

“It starts out small,” the advisor told his compliance officer, authorities say. “You think you are going to pay it back.”

A Senate bill would provide liability protections for advisors who report suspected abuse of senior clients.

The former broker, who pleaded guilty to securities fraud last month, allegedly promised clients returns of up to 15% and used proceeds for personal expenses.

Charles J. Dushek allegedly made trades without designating in advance whether he was trading personal money or client assets.

The firm’s review process is called "paper-thin" after an adviser is charged with selling retirees unsuitable variable annuities and fabricating client information.

Friends and business associates lost $2 million in a Ponzi-like scheme.

Regulator comes down hard on compliance failures; additional $6.3 million must be paid back to investors.

One of the sanctioned advisers has 26 disclosure events listed on his FINRA BrokerCheck record while remaining in good standing with Ameriprise.

Prosecutors served a warrant seeking names of employees who opened unauthorized accounts, as well as the bank’s fee structure and a calculation of losses suffered by affected customers.

Paul T. Lebel excessively traded shares that carried large front-end loads and "willfully disregarded the customers' interest," the agency said.

The former RIA and fund advisor was cited for multiple fiduciary violations in a day-trading scheme, pocketing profitable trades from a pooled account while burdening clients with the losses.

An ex-American Realty Capital executive allegedly overstated a key accounting metric by roughly $13 million, according to the SEC and federal prosecutors.

The RIA owner got insider tips from an attorney drunk on several glasses of wine, according to the SEC.

In a rare interview, Andrew Ceresney reveals the commission's beefed-up efforts, and what advisers should know.

Nicholas Mitsakos allegedly used the funds to pay his credit card bills and make payments on his Mercedes, authorities charge.

Richard W. Davis also took $1.5 million in fees while he was entitled to just $150,000, the commission alleges.

The Massachusetts-based planner, who allegedly told clients their money would be invested in a hedge fund, was also ordered to pay $1.89 million to victims.

Louis Martin Blazer III allegedly stole $2.35M from clients through his concierge firm Blazer Capital Management.