Risk

Securities America has paid more than $15 million in an SEC case and settlements with the fraud victims of Hector May and his daughter, Vania May Bell.

A Centaurus financial advisor racked up hundreds of thousands of dollars in extra commissions through sales of pricey products, the regulator says.

A basic scam victimizing a client who has since been diagnosed with dementia evaded any red flags for eight years, according to the SEC.

A $775,000 settlement for Waddell & Reed relating to its pre-LPL days displays how the regulator is ramping up enforcement of such cases, experts said.

With the broker behind bars since last year, the firm has paid nearly $2 million in client restitution and a regulatory fine over its mishandling of the account.

While diversification is hot again, these funds haven't always managed to work as advertised.

The wirehouse fabricated the terms of its recruiting bonus loan and client churning allegations against Anil Bhandari, he said in his first interview on the case.

Midsize wealth manager Kovack Securities and its CEO settled two matters last month dating to his time as a member of FINRA's Board of Governors.

IFS Securities once had about 150 financial advisors and 20,000 clients. Now it's seeking millions it owes third-party firms three years after it shut down.

The firm terminated the longtime financial advisor. But experts say that isn't always a best practice, and many female professionals continue to report abuses.