Law and legal issues

The arbitration award comes amid the industry's aggressive push to make sure departing wealth managers pay back money owed on recruiting loans.

FINRA's settlement with Merrill gives the wirehouse credit for "extraordinary cooperation" with its investigation.

Huntington Investment Company is accusing a former advisor of resigning with no advance notice and then using confidential information to drum business from ex-clients.

The broker-dealer self-regulator argues that the enforcement decline is a result of its success in driving bad actors from the industry.

The high court ruling deals a serious blow to a system that critics contended had allowed regulators to act as proverbial judge, jury and executioner.

LPL accuses its rival of hindering "competition in the financial services space" through its "cynical" attempts at frightening advisors into staying put.

The latest legal challenge to the firm's "cash sweeps" policies argues advisors violated their fiduciary duties by not procuring higher yields for clients.

An industry recruiter notes that many wealth managers who switch firms receive money from their new employer to cover forfeited deferred compensation.

The payout of nearly $20 million reflects the mixed status of Black representation among financial advisors at the largest wealth management firms.

A decision backing the surviving shareholder in a family business could have carried major tax implications to succession plans. Instead, SCOTUS backed the IRS.

The American Securities Association accuses the industry regulator of violating federal sunshine law for rebuffing its requests for insight into more than $3 billion in recent settlements with Wall Street giants.

The new court action comes amid ongoing litigation over Gregg Desmarais' alleged poaching of clients and assets for Raymond James.

An industry lawyer says the firm's liability in a complex insurance-related scam will hinge on what it "should have known" or "must have known."

The lawsuit alleges that Jim Chanos "planned on using his power as general partner to run the company into the ground, enjoy the tax benefits of his financial shenanigans, and leave his partners with nothing."

The independent broker-dealer giant contends in court that a federal judge went too far in telling a pair of its advisors that they couldn't reach out to clients they had while at TD Bank.

Brokerages and industry lawyers say the conduct standard's key provision is its requirement that advisors consider alternatives to risky and expensive investments.

The federal banking regulator agrees that the former employees' claims against the failed regional bank don't belong in FINRA arbitration.

The once-discraced firm has benefited from the recent strong rallly in cryptocurrencies.

Arbitration panels and courts have already shown openness to arguments that deferred compensation is protected under federal retirement law.

The disturbing nature of the claims and puzzling sequence of events add a fraught layer to what was already going to be a challenging CEO handoff from the founder.