Litigation

Prosecutors accused firm founder David Gentile and his partner of putting at risk more than $1.8 billion raised from thousands of investors.

Firms' practice of offering low returns on clients' uninvested cash is becoming the latest hot legal target.

Wells Fargo joins Morgan Stanley, Merrill and Ameriprise in facing questions over its handling of clients' uninvested cash.

The latest court dispute between the two wealth management giants issues a widespread indictment against LPL's recruiting practices.

The latest legal action over the industry's handling of clients' uninvested cash suggests sweeps are a bigger profit generator than most firms let on.

The Wall Street powerhouse is now the subject of two class action suits questioning whether it has been providing unreasonably low returns on clients' uninvested cash.

A broker argues the Supreme Court's recent decision in the Jarkesy case means he should get to defend himself against fraud allegations before a jury.

The arbitration award comes amid the industry's aggressive push to make sure departing wealth managers pay back money owed on recruiting loans.

FINRA's settlement with Merrill gives the wirehouse credit for "extraordinary cooperation" with its investigation.

Huntington Investment Company is accusing a former advisor of resigning with no advance notice and then using confidential information to drum business from ex-clients.

The broker-dealer self-regulator argues that the enforcement decline is a result of its success in driving bad actors from the industry.

The high court ruling deals a serious blow to a system that critics contended had allowed regulators to act as proverbial judge, jury and executioner.

LPL accuses its rival of hindering "competition in the financial services space" through its "cynical" attempts at frightening advisors into staying put.

The latest legal challenge to the firm's "cash sweeps" policies argues advisors violated their fiduciary duties by not procuring higher yields for clients.

An industry recruiter notes that many wealth managers who switch firms receive money from their new employer to cover forfeited deferred compensation.

The new court action comes amid ongoing litigation over Gregg Desmarais' alleged poaching of clients and assets for Raymond James.

An industry lawyer says the firm's liability in a complex insurance-related scam will hinge on what it "should have known" or "must have known."

The independent broker-dealer giant contends in court that a federal judge went too far in telling a pair of its advisors that they couldn't reach out to clients they had while at TD Bank.

Brokerages and industry lawyers say the conduct standard's key provision is its requirement that advisors consider alternatives to risky and expensive investments.

The federal banking regulator agrees that the former employees' claims against the failed regional bank don't belong in FINRA arbitration.