The United States Supreme Court has ruled against a former Wells Fargo Advisors broker who was attempting to overturn an arbitration award, AdvisorHub reports. The nation’s highest court denied Christopher Caputo’s request for a hearing in the case of a $1.6 million...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: November 2022
Former chief financial officer sentenced to prison for embezzling from his firm
A federal judge in North Carolina has sentenced a company’s former chief financial officer for stealing money from his firm, Insurance NewsNet reports. 62-year-old Samuel Allen Mouzon, who was CFO for a company in High Point, North Carolina for about 20 years, was...
SEC proposes stricter requirements for outsourcing by RIAs
The Securities and Exchange Commission is proposing measures aimed at tightening the requirements for registered investment advisors who use third-party service providers, AdvisorHub reports. The SEC’s proposed new rule and rule amendments would prohibit RIAs from...
Former broker charged with embezzling money from clients for his own use
A former Michigan broker has been charged with embezzling funds from his clients for investments and diverting it for his own use, reports ThinkAdvisor. 45-year-old Jaime Westenbarger, the founder of Forest Hills Financial, is facing seven criminal counts filed by...
Investment advisor barred, fined by SEC for deceiving clients
A California-based investment advisor and his company have been charged with engaging in practices that deceived and defrauded hundreds of their clients, the Securities and Exchange Commission announced. The SEC obtained a final judgment against Keith Springer and...