Law and legal issues

He says the industry has become much more diverse and supportive, but there’s still a long way to go.

The SEC says Marguerite Cassandra Toroian waited to allocate stock purchases to herself, her family or clients once she knew if the purchases were winners or losers.

Joseph Orazio DeGregorio convinced his victims to invest in promissory notes and companies that never even existed.

A judge’s decision puts new pressure on the brokerage industry watchdog and the SEC.

The firm and a former rep recommended a course of actions that helped the wirehouse and hurt the customer, according to the FINRA arbitration case.

The grandsons lost a bid to force Beverley Schottenstein to negotiate a FINRA award in her favor.

A former Chase bank-based financial advisor won the arbitration award as critics say giant brokerages abuse U5 termination disclosures.

After two stints as a rep for Charles Schwab, Russell Joseph Mutter started a Ponzi scheme that ran for nearly a decade in his home county.

About 20% of FINRA client arbitration awards are unpaid every year, but there are signs that the former First Standard clients could receive some restitution.

The firm that helped dozens of practices go independent is using the tactic most often deployed by its previous main rivals.

Rapidly growing multifamily office Cresset and similar firms have been adding advisors in droves even as wealth managers take them to court.

Officials said when he could no longer keep his investment fraud running, Scott Nicholson admitted to his clients that their money was gone and their investment was worthless.

R. David Yost and his soon-to-be-former son-in-law are slugging it out in court over allegations of tax evasion.

Furman Alexander Ford, who once jumped his fence to avoid federal agents, will head back to trial in May for a separate criminal case involving Medicare fraud.

Jeffrey Santulan and his company, Safeguard Metals, are facing enforcement actions by the SEC, the Commodity Futures Trading Commission and 27 state securities regulators.

The wirehouse and its attorney “manipulated the arbitrator selection process” and “introduced perjured testimony,” according to the ruling.

A client received damages, interest and attorney fees as wealth managers await more fallout from a major fraud case.

FINRA alleges the firm failed to maintain control of billions of dollars in securities and spent more than a decade inaccurately disclosing potential conflicts of interest.

Officials said for nearly a decade, former New York advisor Perry Santillo defrauded clients to throw six-figure birthday parties and fill his closet with $10,000 suits.

Clients with a dispute against their advisor are often compelled to pay upfront for arbitration, which is unfair, write attorneys Christine Lazaro and Michael Edmiston.