Nine months after FINRA began a process to publicly label firms as ‘restricted’ if they or their brokers had a significant history of misconduct, no firms have received that scarlet letter, according to a review of the regulator’s…
Securities Fraud
[…] Mark S. O’Dell, of Morrisville, filed the class action lawsuit last week against Berkshire Bank, alleging it knew Marshall was running an investment scam commonly known as a “Ponzi” scheme prior to Marshall’s bankruptcy filing in 2023….
Law360 (May 14, 2024, 9:40 PM EDT) — Massachusetts-based Berkshire Bank is facing a proposed class action brought by an investor seeking to hold the bank liable for providing financial services to a bankrupt local business person whom…
The U.S. Department of Labor on Tuesday said it has finalized a fiduciary rule governing retirement accounts that will close loopholes and widen the swath of financial advisors who must put their clients interests ahead of commissions or…
When you walk into a financial adviser’s office, you expect them to put your best interests above all else — in the same way a doctor would, rather than, say, a car salesman. But many people don’t realize…
Some financial advisors did not get a lot of love from the White House bully pulpit on Tuesday when President Joe Biden rolled out the Department of Labor’s newly proposed fiduciary rule governing retirement accounts. The proposed rule…
“A trade group representing plaintiffs’ lawyers on Tuesday called for the Securities and Exchange Commission to end a “broken” arbitration system for investors bringing claims against registered investment advisors and to force RIAs to be more transparent about…
“Following last month’s report by the SEC to the House Appropriations Committee on private arbitration (and the use of forced arbitration clauses) in the RIA industry, investor advocates vow that if the commission won’t mandate more industry transparency, they’ll push…
The Securities and Exchange Commission has no way to track the number of registered investment advisor arbitrations or unpaid arbitration awards, according to a just-released report. Last year, the House Appropriations Committee expressed concerns about the proliferation of…
SALT LAKE CITY, UTAH- Antiguos clientes de Wealth Navigation Advisors (WNA) d/b/a Oak Lane Advisors, con sede en Centerville, Utah, presentaron una demanda contra la firma de asesoría por más de $ 850,000 perdidos en un esquema Ponzi…