UBS Wealth Management USA has terminated one of its brokers over what it said were violations of the company’s policies on outside business activity, according to AdvisorHub. The action against Patrick R. Murray was detailed in his Central Registration Depository...
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Broker Misconduct
Three wealth management advisors accused of improperly soliciting clients for new firm
Three financial advisors are facing a lawsuit over allegations they improperly solicited clients from their former employer, according to ThinkAdvisor. David Wheatley, Timothy O’Shea, and William McDonald are the subject of a complaint filed in federal court in...
FINRA decision to bar broker over deposit of over $1 million upheld after appeal
The Financial Industry Regulatory Authority has upheld an earlier decision to bar a broker for misconduct involving the transfer of funds, Think Advisor reports. Thomas Lee Johnson, a former broker with RBC Capital Markets, allegedly deposited over $1 million that was...
Former managing director charged with fraud and misconduct after bankrupting firm
The Securities and Exchange Commission said a former executive for an Atlanta-based broker-dealer has been charged with unauthorized trading that caused his firm to go bankrupt. Separate actions were filed by the SEC and the U.S. Attorney’s Office against Keith A....
Lewitas Hyman Successfully Argues for Village Bank, a Wintrust Community Bank, to Be Named as a Defendant in a Case Seeking Recovery of a $2 Million Loss in an Alleged Ponzi Scheme
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...