James Walesa "should have been barred from the industry years ago," one attorney said.
Fights over compensation are a common area of hostility between wealth management firms and their employees, including financial advisors.
Plaintiff's lawyers are eying both broker-dealers for potential client complaints.
American Century and Mariner Wealth have moved to settle pay disputes with $25.5 million fund.
Most notably, two chief compliance officers have also recently left the firm.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Changes in legislation or additional laws historically have created opportunities for the alternative investment marketplace to expand.
Some in the industry say that more UBS financial advisors this year will be heading for the exits.
At the end of May, the Bluerock Total Income + Real Estate Fund said the net asset value, or NAV, of its Class A and Class C shares, respectively, was $25.74 and $23.71.
TradeStation Securities' communications violated industry rules, including falling short on describing the risks involved in investing in volatile crypto assets.
