Law and legal issues

Dynasty accuses Merrill of acting in distorting the court record in its attempt to force a dispute over a giant breakaway team before FINRA arbitrators.

A FINRA arbitration panel ordered Eileen Cure to pay back recruiting-loan debt and more after she was let over a "no Blacks" order she sent to her staff.

The latest victory in court for Jayne W. Di Vincenzo over Devin J. Garofalo may have finally ended the saga.

In a sternly written footnote, federal Judge Steven Merryday said the SEC's refusal to release information on its penalty calculations appears to "countenance duplicity, gamesmanship, neglect, insouciance" or worse.

Mario Payne — an independent advisor who had used Charles Schwab and TD Ameritrade for custodial services — lands both firms in hot water over his recommendations of risky investment products.

Lawyers note that Ameriprise, despite its win, got relatively little of what it wanted and question whether the fight was worthwhile.

The lawsuit claims ShinyHunters, a prominent cybercrime group behind breaches at other wealth firms, exposed personal information after its ransom demands were refused.

The dispute highlights how control over assets in increasingly popular DAFs can become contested — and what that could mean for advisors and their clients.

Paul Reid Galietto's lawyer says he was let go by Credit Suisse in 2021 after the firm tried to unfairly blame him for losses from the collapse of the giant family office Archegos Capital Management.

A pair of putative class-action lawsuits this month accuse Edward Jones of allowing information clients enter online to be harvested for use in targeted marketing campaigns.

A federal judge rejected Stifel's bid to dismiss a FINRA penalty. The firm has paid millions to former clients, with 20 more cases still in the works.

A federal judge rejects arguments that U.S. Bank has a fiduciary duty toward uninvested cash sitting in clients' brokerage accounts.

At a hearing Tuesday, executives at the Swiss banking giant faced tough questions from both Republicans and Democrats. The lawmakers are unhappy with the bank's recent decision to withhold certain documents from a lawyer who's overseeing research regarding Nazi accounts.

The SEC's decision marks a startling reversal from the full-court press it had mounted against Commonwealth Financial Network in 2019 over alleged failures to disclose conflicts of interest in its brokers' mutual fund recommendations.

Linda Friedman, who has made a career with Wall Street discrimination and harassment cases, is representing an ex-Citi executive in a bombshell lawsuit this week. Things didn't have to take this turn, she contends.

In a court petition, Citi cites numerous messages showing former global head of platform and experiences Julia Carreon allegedly praising Sieg for his work overhauling the firm's wealth management division.

Rather than investigate her claims against the head of the firm's wealth unit, the accuser claims that Citi's human resources turned its spotlight on her. Citi denies the claims.

A Ninth Circuit appellate panel ruled that10 advisors recruited to LPL from Ameriprise have the right to resist turning over their personal devices to a forensic examiner to be searched for evidence of misappropriated client data.

The justices are scheduled to resolve disagreement among lower courts over whether market regulators can order fraudsters to repay ill-gotten gains to victims.

Kyle Busch's lawsuit against Pacific Life and his former insurance agent provides a window into potential issues around complexity, suitability and more in indexed universal life policies.