Law and legal issues

The “commission free” trading app did not disclose that it collects payment from market makers in exchange for executing trades, according to the lawsuit.

The popular trading app omitted information about its payment for order flow practice, the regulator says.

An employee who left in 2018 said she experienced a barrage of racial and sexual antagonism while at the firm, such that “it is not possible to list all of the comments and conduct in one document."

Two women employees at the firm’s Newport Beach, California office say they were demoted after reporting instances of bias and harassment.

Former CEO John Stumpf agreed to pay a $2.5 million penalty to settle civil charges tied to the bank’s fake-accounts scandal. Former community bank head Carrie Tolstedt did not agree to a settlement and is now facing a lawsuit that alleges she committed fraud.

But the regulator also ordered record payouts in 2020, including restitution through a self-reporting program that drew industry ire.

Although in-person hearings aren’t banned outright, none have taken place since the onset of the coronavirus pandemic.

He allegedly told his employer that he had been diagnosed with cancer, and took medical leave from June until September. Wells Fargo notified him that he was being let go while he was away, according to the complaint.

The former J.W. Cole advisor’s practice allegedly sold more than $40 million worth of unsuitable and unregistered promissory notes.

Firms' legal brawls with departing advisors don’t exactly enhance their stature among clients. But there's reason to think this may become a thing of the past, writes recruiter Mark Elzweig.

The discrimination case revolves around allegations of disparate treatment in the firm’s agency distribution channels.

The firm’s talent-analytics associate director had claimed the company hired fewer women than men and that she was paid less than her male counterparts.

The bank was seeking to overturn some $400,000 in attorney fees awarded to four advisors as part of a $2 million case.

To protect client nest eggs, advisors must know which savings vehicles are protected — and they’re not all created equal.

After an SEC lawsuit, Dan Kamensky now faces criminal charges including securities fraud, extortion and obstruction of justice.

The advisor sold securities out of one account to buy a Camaro ZL1 — then resold the car to the same victim, the regulator alleges.

Pressing the bank for examples of non-solicitation violations, the judge cut off JPMorgan’s attorney: “you are dancing all around my question.”

The saga lays bare the rough-and-tumble ways of distressed investing, where investors look to pull every lever in their favor.

It’s the latest dramatic twist in the story of USO, which was at the center of the storm as crude prices plunged earlier this year.

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.