Lawsuits

As judges have shown in other recent cases involving UBS and Stifel, firms have a high bar to clear if they want an arbitration award vacated.

A federal judge finds that the embattled brokerage Alpine Securities' argument that FINRA should answer to the federal executive branch amounts to " wishful thinking" that "collapses under the weight of spiraling aspiration."

A California man's complaint alleges that Morgan Stanley's website enabled tracking tech from Google and Microsoft to collect web visitors' browsing data for targeted online ads.

A three-judge panel on the Fourth Circuit Appeals agrees with Merrill that its deferred compensation policies are a bonus used to reward brokers for loyalty to the firm.

SEC regulators instead take aim at their predecessors in the Biden Administration, saying the outsized fines were partly the result of a desire to "pursue media headlines and run up numbers."

The investment recommendations from a now-barred broker may ultimately cost the St. Louis-based firm more than $200 million in various penalties and awards.

Commonwealth was hit with the landmark penalty over its advisors' mutual-fund recommendations the year before its acquisition by LPL Financial. But it will pay only a fraction of that now.

Andrea Bethune contends in federal court that Carson Group moved her into a new role to make way for a woman 20 years her junior. Eventually, her position was eliminated.

Federal Judge David Nye sides with a broker fired over five years ago for placing trades without first obtaining his client's permission.

Dynasty accuses Merrill of acting in distorting the court record in its attempt to force a dispute over a giant breakaway team before FINRA arbitrators.

A FINRA arbitration panel ordered Eileen Cure to pay back recruiting-loan debt and more after she was let over a "no Blacks" order she sent to her staff.

The latest victory in court for Jayne W. Di Vincenzo over Devin J. Garofalo may have finally ended the saga.

In a sternly written footnote, federal Judge Steven Merryday said the SEC's refusal to release information on its penalty calculations appears to "countenance duplicity, gamesmanship, neglect, insouciance" or worse.

Lawyers note that Ameriprise, despite its win, got relatively little of what it wanted and question whether the fight was worthwhile.

The lawsuit claims ShinyHunters, a prominent cybercrime group behind breaches at other wealth firms, exposed personal information after its ransom demands were refused.

The dispute highlights how control over assets in increasingly popular DAFs can become contested — and what that could mean for advisors and their clients.

A pair of putative class-action lawsuits this month accuse Edward Jones of allowing information clients enter online to be harvested for use in targeted marketing campaigns.

A federal judge rejects arguments that U.S. Bank has a fiduciary duty toward uninvested cash sitting in clients' brokerage accounts.

The SEC's decision marks a startling reversal from the full-court press it had mounted against Commonwealth Financial Network in 2019 over alleged failures to disclose conflicts of interest in its brokers' mutual fund recommendations.

Linda Friedman, who has made a career with Wall Street discrimination and harassment cases, is representing an ex-Citi executive in a bombshell lawsuit this week. Things didn't have to take this turn, she contends.