New class-action securities lawsuits not involving mergers and acquisitions totaled 117 in the first half of the year, down 18% from the second half of 2019, according to a report by Cornerstone Research.
Despite the decline, the total number of filings is high based on historical averages, Cornerstone said.
Not surprisingly, the report said, “allegations related to issuers’ responses to Covid-19 began appearing in filings in mid-March.”
Suits against issuers of cryptocurrencies and cannabis companies continued in 2020, it noted.
Andrew Komarow pleaded guilty Thursday in federal court in Hartford to defrauding three financial services companies of close to $3.3 million.
Elsewhere, Cetera picks up a $210 million Connecticut team from MML, while Wells Fargo FiNet adds a San Diego family practice from LPL
“We needed to become a more agile and efficient organization,” said American Express CEO Stephen Squeri.
Examiners will scrutinize fee conflicts, complex products and super intelligence threats as broker-dealers face fresh Reg BI and AML reviews
New launches tackle succession planning, AI-driven email management and heir retention ahead of the great wealth transfer
Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
