Law and legal issues

Extra diligence on the advisor's end can help HNW clients avoid potentially disastrous lawsuits

A lawyer representing Keith Todd Ashley argues prosecutors overreached in arguments used to obtain life sentence against his client.

A brokerage client's portfolio was gradually invested almost exclusively in the fund manager WisdomTree over a decade.

James Tuminello argues in court documents that he only reached out to clients he formed with relationships before joining the large wirehouse.

Missouri requires brokers who recommend investing on environmental, governance or social principles to sign statements saying they "are not solely focused on maximizing" returns.

A lawyer representing advisors warns the new rule will drive the forum fees of arbitration hearings well above $10,000.

Advisors and brokers rarely put up fights when a former employer comes for loan paybacks as successes are few and far between.

Popular online brokerage has paid $175 million to resolve recent actions by federal and state regulators.

Employees at 11 firms, some ranking as high as senior executive, stood accused of using WhatsApp and similar services to conduct business in violation of recordkeeping rules.

Under settlements with the SEC, Wells Fargo and BNP Paribas will pay millions of dollars in penalties for employees using unofficial communications like WhatsApp. In all 11 firms agreed to pay penalties, while the CFTC took separate actions.

After the regulator's report raised questions about fairness to investors, PIABA is seeking new rules that would require advisory firms to make it easier to file complaints.

Financial advisor Mark J. Dickman had filed his FINRA arbitration case against the firm and officials with Independent Advisor Alliance nearly four years ago.

A staff member in the firm's fraud investigations group found reporting failures dating back to 2009.

State regulators accused the wealth management giant of charging customers commissions of $75 or more for small equities transactions.

In an 'infinitely rare' move, one member of FINRA's arbitration panel wrote a lengthy dissent noting the ex-employee's extensive training in anti-money laundering measures.

The regulator's court victory wraps up years of litigation against a financial planner accused of defrauding at least nine clients of more than $1 million.

The plaintiffs plan to argue the current system deprives them of their right to a jury trial in cases involving securities allegations.

The principals at Legend Venture Partners stand accused of making millions by offering shares in pre-IPO companies without disclosing markups to investors.

More than 60% of registered investment advisory firms force complaints into forums that cost more and may give them fewer rights than FINRA, the regulator said.

In a cautionary tale, Jayne Di Vincenzo and Devin Garofalo have been fighting in FINRA arbitration and court for nearly three years after their M&A deal fell apart.