Finra isn't backing down from its position that it has jurisdiction over broker-dealers' financial planning activities.
Finra has expelled an investment firm in Southfield, Mich., for inappropriate practices that occurred in its retail foreign-currency business and repeated violations of registration and related rules, according to a statement.
Legitimate offshore banking by wealthy Americans may be the next casualty of the UBS AG tax evasion case.
Denver Nuggets basketball star Carmelo Anthony filed a lawsuit in federal court last week alleging that his former financial and business adviser transferred more than $2 million from his accounts without his knowledge or consent.
American International Group Inc. yesterday dismissed as “without merit” a lawsuit filed by two investors who claim the insurer should have covered the losses they suffered because they invested with Bernard L. Madoff.
A securities arbitration claim of $5 million has been filed against Merrill Lynch by a Freeport, Bahamas couple who say the preferred financial company stocks the company sold them were unsuitable, according to the law firm representing the couple.
Two law firms are investigating potential claims on behalf of retail investors who purchased leveraged, inverse and leveraged-inverse exchange traded funds and held them in their brokerage accounts for longer than one day.
Florida Atlantic University's College of Business yesterday stripped life insurance guru Barry Kaye's name from the school, according to published reports.
Boston's Fidelity Investments spent $940,000 — both directly and via third-party firms – during the second quarter to lobby Washington lawmakers on financial regulatory reform, retirement, taxes and other issues, according to recent filings with the Office of the Clerk of the House of Representatives.
The Financial Planning Association has urged the Securities and Exchange Commission to restrict the Financial Industry Regulatory Authority Inc.'s enforcement power.
I like to read important proposed legislation. Actually, I don't so much like it — the text is often mind-numbing — but I make myself do it because I think that it is important.
A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which the Securities and Exchange Commission sued last month for fraud.
History is rife with examples of adverse, unintended consequences resulting from well-intentioned lawmaking acting in the face of a crisis.
A retired Michigan couple has filed a securities arbitration claim against Merrill Lynch & Co. Inc. alleging that improper sales practices led to a loss of $650,000 — the latest example of what some securities lawyers see as a rising tide of claims involving the preferred stock of financial firms.
The Department of the Treasury last Tuesday sent to Capitol Hill the final piece of its financial regulatory reform legislation, a 115-page bill aimed at reforming regulation of over-the-counter derivatives.
A former broker with Wells Fargo Advisors LLC of St. Louis has sued the firm for sexual discrimination.
The state of Ohio yesterday reached a $115 million settlement with ex-AIG chief executive Maurice R. “Hank” Greenberg and a handful of former AIG executives in a suit that alleged bid rigging and accounting fraud.
Daniel Andersen, a promoter serving time in prison, was permanently barred from marketing fraudulent tax schemes by the U.S. District Court for the Western District of Washington in Seattle.
The Securities and Exchange Commission on Tuesday filed an administrative proceeding against Axa Advisors LLC for failing to supervise a former registered representative who pleaded guilty to securities fraud in January 2008.
Just months before his now-infamous Ponzi scheme collapsed, Bernie Madoff snookered a Merrill Lynch adviser who was attempting to perform due diligence on him for a foundation that serves the elderly, according to a lawsuit filed in federal court in Florida last week.
