Litigation

Beverley Schottenstein accused the bank and the brokers of unauthorized trading of “multiple auto-callable structured notes and various other securities,” among other alleged misconduct.

The troubled alts manager’s charges will trigger many more arbitration proceedings and potential regulatory cases, plaintiff attorneys say.

Wealth managers acting as “downstream broker-dealers” allegedly made $187 million in commissions and other selling fees on GPB Capital investments.

But the regulator also ordered record payouts in 2020, including restitution through a self-reporting program that drew industry ire.

He allegedly told his employer that he had been diagnosed with cancer, and took medical leave from June until September. Wells Fargo notified him that he was being let go while he was away, according to the complaint.

The former J.W. Cole advisor’s practice allegedly sold more than $40 million worth of unsuitable and unregistered promissory notes.

Firms' legal brawls with departing advisors don’t exactly enhance their stature among clients. But there's reason to think this may become a thing of the past, writes recruiter Mark Elzweig.

The bank was seeking to overturn some $400,000 in attorney fees awarded to four advisors as part of a $2 million case.

Pressing the bank for examples of non-solicitation violations, the judge cut off JPMorgan’s attorney: “you are dancing all around my question.”

Mary Mack is expected to say that other employees were scared of Carrie Tolstedt, according to the bank’s regulators. Tolstedt, one of five former Wells executives facing civil charges in connection with the bank’s phony-accounts scandal, could be fined as much as $25 million.

The advisor is asking a judge to reconsider the order, saying he wasn’t given a chance to defend himself against accusations of violating a non-solicitation agreement.

The St. Louis-based firm claims its rival “instructs incoming recruits to compile client information from their former firm” as a matter of course.

A court ruling may also potentially help dozens of other advisors in their efforts to claim what they say is millions in deferred compensation they are due.

A lawsuit will turn on whether UBS can demonstrate that Alexandra Van Meurs violated contract agreements when she and her team jumped to Morgan Stanley.

Earlier this year, FINRA arbitrators granted the former advisor’s expungement request, but still sided with the firm on its demands for repayment of two promissory notes.

Marylin Booker accuses the company of failing to support Black advisors and criticizes its use of mandatory arbitration to settle employee disputes.

SagePoint Financial failed to adequately supervise reps who recommended that clients exchange the products before maturity, the regulator says.

The onetime CFP pleaded guilty to violating his parole after previously avoiding prison time through a plea deal in 2018.

Production companies claim fraudsters bilked them out of $3.5 million under the bank's watch.

Lawsuit claims woman advisor was denied revenue opportunities and administrative support amid an alleged climate of harassment and discrimination.