The team at Lewitas Hyman recently employed an Illinois state statute known as the “Respondent in Discovery” statute to uncover facts that allowed us to name Village Bank & Trust, a Wintrust Community Bank, as a defendant in a Ponzi scheme case stemming from a $2...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: September 2021
SEC Commissioner and FINRA CEO support central database for regulatory disclosures
The concept of a centralized database where investors could check the backgrounds of financial professionals drew strong support at a recent meeting of securities regulators, according to the journal Financial Planning. SEC Commissioner Allison Herren Lee and...
CFP Board announces sanctions against 51 financial planners
Fifty-one current or former professional financial planners have been sanctioned by the Certified Financial Planner Board of Standards for violations of ethical standards, the CFP Board recently announced. The sanctions involved a range of violations by the...
FINRA issues 7 tips for protecting yourself against cyber criminals
As the threat of cyber crime continues to grow, it is becoming even more urgent for financial institutions and their customers to keep vital information out of the hands of criminals. Given the ongoing risk to online financial accounts, cyber security has become a key...
Investors file class-action complaint against Charles Schwab over excess cash allocations
Three investors have filed a class-action complaint against Charles Schwab for allegedly placing too much of their robo-advisor portfolios in cash positions, ThinkAdvisor reports. Lauren Marie Barbiero, Kimberly Jo Lopez and William Kenneth Lopez, who held Schwab...
