Financial crimes

In a compliance case, the SEC accused LPL of failing to verify conflicting information when it opened a customer account and processed wire transfers.

Here's what you missed this week in wealth management.

While the pandemic slowed down investigations and court cases, state regulators continued to chase financial scamsters, data shows.

A new report from PIABA says independent advisors are as bad as brokers when it comes to cheating investors and paying awards.

Doug Elstun catered to NBA and NFL sports stars, many of whom may not have known about his confidential client settlements outside of FINRA.

The securities lawyer and former NASD regional attorney explains why cases can be so hard to detect and what the industry can do to help.

Brokerages that want to hire someone with a checkered past have to undergo a “consultation” with the watchdog and may have to try to renew their memberships.

‘Millions unaccounted for’ in an alleged 10-year fraud as court freezes assets of dually registered planner and his fund.

Defense cites a heart condition caused by a Brazilian parasite as a reason for lesser time.

A longtime Merrill Lynch veteran, Michelle Avan advocated for Black women and other under-represented talent.

Nearly 100 clients Mata allegedly defrauded for $14.5 million have received paltry restitution after exhausting every possible method.

The managing director was arrested for two domestic violence incidents over a three-week period.

FINRA arbitrators decided not to hold the major custodian liable for transactions prior to 2008, an attorney for the clients says.

John Robert Jones Jr. is accused of convincing two dozen financiers to invest in two private unregistered funds with false promises of growth and limited risk.

Former clients of Isaiah L. Goodman shared the financial losses and other harmful impact of the $2.3-million scheme.

The Advisor Group IBD missed 55 alerts suggesting suspicious disbursements by clients of Hector May, according to the SEC.

The Internal Revenue Service is focusing on cryptocurrency tax evasion with virtual currencies like Bitcoin and nonfungible tokens, employing data analytics to uncover transactions that crypto users assumed were hidden.

The judge declined the barred rep’s request for sentence reduction based on his “severe” bipolar disorder and restitution efforts.

The barred ex-rep funneled clients’ money into a shell company he falsely called a sub advisor, according to investigators.

The barred ex-Mutual of Omaha rep stole from 27 mostly older fellow members of his church, YMCA and local business organizations, investigators say.