Law and legal issues

A former vice president in the private wealth management group claims she was fired for investigating suspicions that a client might be involved in fraud or money laundering.

"This bill is a giant wet kiss to Wall Street,” Senator Elizabeth Warren says.

Advisors should address client issues in-house, which sometimes means taking a hard look at supervisory controls, regulators say.

Authorities say increased regulatory coordination has boosted scrutiny of firms and advisors.

The bank is embroiled in consumer spats over unwanted car insurance, mortgage lending and overdraft fees.

Stockholders had alleged “false and misleading” financial statements.

The storm devastated Puerto Rico, which has seen a surge of client complaints.

In recruiting more women and minorities, the regulator aims to reshape its homogeneous roster of arbitrators.

The firm, which has faced racial discrimination allegations, is trying an alternative approach suggested by a professor at Harvard.

The impartial conduct standards have boosted clients’ chances, a longtime arbitrator says.

The advisor used the money on cars and gambling in the latest Ponzi-like scheme, investigators say.

The defendants profited more than $3 million by trading before and after mergers and acquisitions were announced, according to U.S. prosecutors.

Attorneys are preparing written objections to the settlement, which they may file in the next 15 to 30 days.

The SEC's June 2016 settlement with Merrill Lynch was one of its biggest cases of the year by dollar amount.

The broker persuaded clients to write checks payable to him, the regulator claims.

IRA balances are up, and so are divorces, particularly among baby boomers. These so-called gray divorces have roughly doubled over the past 25 years, according to the Pew Research Center.

Experts say such cases are commonly filed by advisors yet difficult to win.

David Bahnsen told the president that that Milken’s prosecution was a result of “a period of class envy run amok.”

Payouts from advisory firms have reached nearly $80 million as the regulator targets excess fees.

The RIA rep fabricated account statements and used forged letterheads as part of the deception, investigators say.