Law and legal issues

FINRA arbitrators tossed the case alleging negligence and fraudulent misrepresentation based on the wirehouse’s earlier settlement with the estate.

Brokerages cannot be held to the same standard as financial advisors, the fintech company argued.

The bank’s star recruit, a veteran advisor to famous authors, financiers and professional athletes is not happy about what she alleges is 'poaching.'

The settlement follows at least three other cases involving the bank-based brokerage’s supervision this year.

The case revolved around unit investment trusts, the same product that later showed up in a major SEC enforcement action against the brokerage.

Avantax Wealth Management says it had to cancel its advisor event because of COVID. But the Nashville resort that planned to host the meeting says it’s still owed $1.3 million, despite the circumstances.

An arbitrator ordered the minuscule payment despite taking the wirehouse to task in the ruling.

Ronald T. Molo of Illinois allegedly stole money from his clients for mortgage payments, home renovations, luxury SUVs and more.

In early September, a California jury awarded former Edward Jones broker Dalas Gundersen $30 million in damages for defamation from the firm, nearly $9 million more from the two ex-colleagues.

Amid rising criticism of bans on court filings in wealth management, the firms’ customer agreements are getting as much scrutiny as those of brokerage firms.

Lina Maria Garcia, president and chief compliance officer of UCB Financial Advisers, has been charged for her alleged role in a fraud that funneled millions of dollars to her romantic partner’s parents.

Despite standout defamation awards, such as a $13.5 million payout to an ex-UBS rep, advisors and attorneys say firms are abusing their U5 power.

Breaking ties with your firm can be a smooth transition with no hitches in business, or a daily struggle that requires years in the courtroom. Here's how to navigate the path, no matter where it takes you.

FINRA alleges that the firm caused clients to incur more than $2.9 million in trading costs.

As the U.S. commonwealth’s fiscal restructuring awaits court approval, a fixed-income brokerage firm’s CEO is trying to drum up votes — or at least a quorum.

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

From compliance to the Broker Protocol, advisors should understand their obligations and restrictions before they make a move.

Allison Herren Lee and Robert Cook also vowed to continue reforming expungements after the tabling of a new proposed rule earlier this year.

Cresset added five more advisors to the previous 10 that the megabank claims a founding partner recruited in violation of the terms of his resignation.

Plaintiffs claim the firm’s high cash allocations juiced revenue for Schwab at the expense of client performance.