Matthew Weitzman, a former principal of AFW Asset Management Inc., was sentenced to 97 months in prison after he pleaded guilty last year to stealing from the firm's clients.
A weak report on housing starts made investors nervous that the economy will be slower to recover even as profits at many companies exceed expectations.
Despite the 60% stock market rally since the March low, many consumers remain fixated on the immediate reality of unemployment, and that is preventing a lot of investors from participating in the rally, according to Kevin Mahn, chief investment officer with Hennion & Walsh Asset Management Inc.
Two former Nebraska City brokers say they shouldn't be prosecuted for securities fraud because the investors who lost more than $20 million acknowledged the risks in writing, but prosecutors said Monday the records don't tell the full story.
Construction of new homes edged up slightly in September, helped by a rebound in single-family construction. However, in a worrisome sign for future housing work, applications for building permits fell by the largest amount in five months.
A judge has thrown out a lawsuit against Vice President Joe Biden's youngest son and brother over their 2006 purchase of a hedge fund firm, saying an investor failed to be specific enough in claiming that they underhandedly shoehorned him out of the deal.
Fears abound about the potential for change in the regulatory and compliance arena.
Based on a draft amendment of the Investors Protection Act that was distributed today by the House Financial Services Committee to select members of the financial services industry, the duty of care applied to both brokers and financial advisers would be at least as high as the standards that the SEC applies to investment advisers.
Morgan Stanley has agreed to pay a $90,000 fine to the Financial Industry Regulatory Authority Inc. to settle charges that it traded municipal bonds at unfair prices.
Over the past year, we have heard from advisers that the economy has not only hit clients hard; it has also affected their children who have recently graduated from college.
