A former financial advisor in Illinois who pleaded guilty to swindling some of his elderly clients out of money was sentenced to federal prison recently, Financial Advisor reports. U.S. District Judge Iain D. Johnston sentenced 41-year-old Naseem Salamah to four years...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: April 2022
Supreme Court sides with former Ameriprise broker who challenged FINRA arbitration ruling
The U.S. Supreme Court sided with a former independent broker for Ameriprise Financial who had challenged the outcome of a Financial Industry Regulatory Authority arbitration award, AdvisorHub reported. The case involved Denise Badgerow, a Louisiana broker who had...
2 former UBS advisors agree to order banning solicitation of ex-clients
Two former advisors with UBS Wealth Management USA have signed an agreement not to solicit certain former clients to their new firm, AdvisorHub reports. UBS had filed a lawsuit in federal court seeking a temporary restraining order against the brokers, Travis...
Judge orders former Transamerica representative to pay over $747K for defrauding investors
A federal judge has ordered former Transamerica representative Scott Allen Fries to pay over $747,000 for defrauding at least ten investors, according to FinancialAdvisor. The Securities and Exchange Commission charged Fries, 56, with misconduct that started in...
SEC proposes new rules for companies to disclose climate-related information
The Securities and Exchange Commission has announced a set of proposed new rules requiring public companies to disclose climate-related information, AdvisorNews reports. The SEC said the information would be required of firms when they register as public companies...