A federal judge in New York has thrown out an antitrust lawsuit seeking to block the $26 billion takeover of TD Ameritrade Holding Corp. by the Charles Schwab Corp.
District Judge Gregory H. Woods said the suit, brought by BlackCrown, an Old Westbury, N.Y.-based registered investment adviser, violated federal procedure because it was not filed by an attorney, as is required for corporate entities bringing suits.
The judge said the suit could be refiled if BlackCrown is represented by a lawyer.
BlackCrown Chief Executive Franklin Tsung signed the complaint as a pro se litigant, meaning that he was representing himself.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
