Litigation

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.