Ex-Wachovia employee sold banking product that didn't exist, pocketed the money, bought zebras, helicopter; sentenced to seven years in jail
Netschi bilked clients out of $80M; Wall Street banker who lost $4M now waiting tables
Steven Salutric allegedly stole from his clients and gave to his church; barred 'from association with any investment adviser'
Agency claims investment adviser pitched funds as 'immensely' diversifed; turns out they weren't, agency alleges
SEC says Sandra Venetis targeted retirees in long-running fraud; allegedly used money for trips, gambling
CRM Software Inc. has released significant updates to both its popular CRM system and its separate ClientView Live secure web portal.
Missouri says Otto set up unregistered brokerage to liquidate client accounts; he settled similar charges with SEC this year
Revisions to disclosure form seen as better for investors; could create headaches for advisers, though
Units of Bank of America Corp.'s Merrill Lynch & Co., UBS AG and Bear Stearns Cos. were sued by Charles Schwab Corp. over claims they lied or omitted information on mortgage-backed securities
A federal judge has upheld a $1.47 million arbitration award given last fall to former NBA star Horace Grant for losses he sustained on investments in failed Regions Morgan Keegan Select bond funds.
BNY Mellon on Friday said it reached a deal to buy I(3) Advisors of Toronto, an independent company with more than C$3.5 billion ($3.4 billion) in assets under advisement.
Bank of New York Mellon Corp. named Lawrence Hughes head of its wealth-management unit, replacing David Lamere, who resigned.
Morgan Keegan & Co. has been granted an administration hearing on allegations that its brokerage firm cost investors, including retirees, more than $2 billion in losses through fraudulent and reckless business practices.
Plaintiff's attorneys who are suing Morgan Keegan & Co. Inc. over its failed Regions Morgan Keegan Select bond funds are in an uproar about what they claim is the firm's cover-up of embarrassing documents.
Rockefeller & Co., Inc., the wealth management firm that has been looking for a chief executive since the suicide of CEO James McDonald last fall, has changed its name to Rockefeller Financial.
Goble barred from securities industry for illegal transaction; co-founded FIA
The Massachusetts Securities Division today filed a complaint against Securities America Inc., charging that the broker-dealer and subsidiary of Ameriprise Financial Inc. misled investors when it sold them private-placement securities.
Financial advisers to some private-equity funds fear that efforts to reduce systemic risk in the financial markets, a key theme of the massive reform bill signed into law last week, are unfairly targeting them.
With their day-to-day business practices likely to change as a result of the new financial-reform law, broker-dealers are scrambling to assess their technology preparedness.
