Law and legal issues

Mutual fund costs have fallen to 48 basis points in 2016 from 77 basis points in 2000 for plan participants, according to data from Investment Company Institute.

Clients thought they were investing in real estate developments that would be flipped for profit.

Overall, the advisor defrauded at least nine clients out of $1 million, which he used to pay for tuition and mortgage payments, federal prosecutors say.

The Ponzi-like scheme used investor funds to pay other investors’ debts and cover personal expenses.

A company’s refusal to hire a candidate because their work authorization papers will ultimately expire “may constitute illegal discrimination,” according to the Department of Homeland Security.

Miguel Ballestas was discharged from the firm after allegations of insider trading.

Allegations of undisclosed private securities transactions by a former advisor followed two significant mutual fund cases involving the IBD network’s practices.

The firm incorrectly coded her payout at the institutional rate, a mistake that impeded her ability to move up the pay grid and attain bonuses, she alleges.

Wall Street whistleblowers just got another reason to take their gripes directly to the SEC.

The claim alleged negligence, fraud and misrepresentation, according to the regulator.

The brokerage ranks shrank by 258 from the year-ago period.

The firm warned Friday that it may take a charge of as much as $1 billion to settle a U.S. probe of its consumer business.

Former CEO Mark Casady disclosed in arbitration testimony what led to the firing that resulted in a $30 million claim against the firm.

The payout brings the distribution to more than $1.2 billion, a fraction of the more than $50 billion scam.

The advisor, a former employee, has been soliciting more than two dozen clients at the bank, JPMorgan says.

“Chase promised so many things and they didn’t keep those promises,” the juror said of the firm.

Investors brought a class-action suit against brokerage alleging a "scheme to churn revenue from essentially dead assets."

David Olson, an advisor of nearly 30 years, worked at Morgan Stanley until his termination in 2016.

The Advisor Group IBD added three new teams, but state regulators required enhanced oversight of one new recruit.

In addition to winning a $25,000 award, ex-J.P. Morgan rep Mihail Naumovski was able to expunge erroneous information on his Form U5 that he violated investment-related regulations.