Securities America Inc. was tagged last month with a lawsuit from Massachusetts regulators alleging that the firm misled investors who were sold high-risk private placements.
A Securities America adviser named last week in a class action said he had no way of knowing that securities he sold would later blow up.
In strikingly unenthusiastic fashion, federal Judge Jed Rakoff signed off on the Securities and Exchange Commission's plan to fine Bank of America $150 million after failing to tell shareholders of about $16 billion in impending losses at Merrill Lynch.
Few Small Firms are Able to Sell Themselves to Big Firm Advisors
A federal judge in Minnesota today ordered Trevor G. Cook jailed for failing to surrender more than $35 million in assets.
After all of the controversy and consolidation in the wirehouse sector, Morgan Stanley Smith Barney LLC remains the top-rated firm among high-net-worth investors, according to Cogent Research LLC's 2010 Investor Brandscape report, released today.
A December study of Justice Department records showed that federal prosecutions of financial crimes have dropped dramatically nationwide over the past six years, despite the recent media frenzy over big-time Ponzi schemes and insider trading scandals.
A lawsuit accuses an energy company owned by Dallas Cowboys owner Jerry Jones of aiding and abetting an alleged $15 million securities fraud.
Major life carriers' earnings will take just a minor hit from President Obama's proposed Financial Crisis Responsibility Fee, according to a report from securities firm Keefe Bruyette and Woods.
A New York couple who lost more than $2 million on financial and health care stock investments made by their independent adviser in 2008 and who stopped opening their monthly statements has failed in a bid to collect damages from Fidelity Investments, the custodian for their RIA.
Users of the do-it-yourself trading site collective2.com received an “urgent” e-mail at a few minutes past noon Wednesday notifying them that the company's computer database had been breached by a hacker and that all users should log in to change their passwords immediately.
The FBI is investigating a hacker attack on Citigroup Inc. that led to the theft of tens of millions of dollars, The Wall Street Journal reported Tuesday.
Key members of Congress will begin an investigation to determine whether officials from Merrill Lynch deliberately misled lawmakers about bonuses the brokerage firm intended to pay out to top executives for its 2008 performance.
A sister who sued her brother and his brokerage firm won a $608,000 arbitration decision last month in a case that alleged, among other claims, churning of highly volatile stocks in the weeks leading up to the market collapse of September 2008.
The Labor and Treasury department have put out a request for information on the use of annuities in defined-contribution plans.
The benefits that financial advisers provide to a client going through a divorce start when that client first informs you of the wedding plans.
Like many financial advisers, Rick Kahler struggled for years over whether to hire a peer to review his personal financial plan.
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