JPMorgan Chase & Co. is reportedly in discussions to settle a case involving its failures to properly monitor employee communications, according to AdvisorHub. The firm could pay about $200 million in sanctions following an investigation by the Securities and...
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Month: December 2021
SEC Chairman looks to tighten regulation involving SPACs
The chairman of the Securities and Exchange Commission is calling for a review of the rules regarding special purposes acquisition companies, according to a report in InvestmentNews. SEC Chairman Gary Gensler addressed the topic last week in a speech before the...
Wells Fargo fined $2.25 million by FINRA over recordkeeping violations
Two divisions of Wells Fargo & Co. have been fined by the Financial Industry Regulatory Authority over violations involving customer recordkeeping, AdvisorHub reports. According to a Letter of Acceptance, Waiver and Consent issued this week, FINRA fined Wells...
Former NY financial advisor charged with misappropriating over $1 million from clients
Federal prosecutors have charged a New York financial advisor with orchestrating a scheme to misappropriate over $1 million from current and prospective clients, according to ThinkAdvisor. 43-year-old Jeffrey L. Slothower is facing charges of wire fraud, investment...
Advisor who jumped to J.P. Morgan sues firm over alleged poaching of clients
An advisor for J.P. Morgan who claims the firm’s private banking division has been poaching her clients is now filing a lawsuit against her employer, reports ThinkAdvisor. The advisor, Gwen Campbell, moved from Merrill Lynch to J.P. Morgan in October 2020 with her...