Law and legal issues

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.

The firm falsely claimed on his Form U5 that he deliberately changed a customer’s address from California to New Hampshire to facilitate the sale of an annuity, the broker alleged.

The firm is asking a judge to dismiss a class action suit and force a former broker into arbitration, instead.

Only 17 states permit these trusts, which can play an important role in planning for income taxes and estate taxes.

The broker misappropriated his clients’ investment money for rent, credit card bills and other personal uses, investigators say.

Barry Snyder’s complaint depicts him as a victim of federal investigators and the bank, with both sides threatening to turn on him.

National Financial Services accused the brokers' former IBD of breach of contract in a case displaying the complexities of such moves.

The accusations shed light on the massive back-office systems maintained by regulators and the difficulty of keeping the sensitive information in them private.

The regulator moved to eliminate a $400 fee for “explained decisions.”

Steven A. Cohen’s firm says a female executive is required by her employment contract to confidentially arbitrate her dispute with the asset manager.

The two IBDs have agreed to pay restitution in one of the largest securities fraud cases in the advisor’s home state.

The organization awarded millions to firm insiders that provided information in a 2016 case against BofA.

Even after a federal appeals court struck down the rule, more clashes over the regulation of sales versus advice are inevitable.

The $11 billion hedge fund is accused of operating like a “boys’ club” where women were paid less than their male counterparts.

The Department of Labor has an incentive to defend its rule-making authority even though it is considering revisions to the regulation.

Focus turns to the SEC as it considers creating its own higher standard of client care.

Investors were bilked out of approximately $611,000, say federal prosecutors.