A federal judge imposed a prison sentence on a former New Jersey broker who pleaded guilty to a securities fraud scheme, reports Financial Advisor. 55-year-old Mark Marchi was ordered to spend 63 months behind bars, along with three years of supervised release....
Wells Fargo manager files lawsuit accusing firm of gender discrimination
A sales manager with Wells Fargo Securities LLC has filed a lawsuit accusing the company of widespread gender discrimination, Financial Advisor reports. The suit was filed last week in California State Superior Court by Vanessa Carney, who has spent 16 years with the...
FINRA rule on business continuity plans left unchanged
Following a review of its rule involving business continuity plans during the COVID-19 pandemic, the Financial Industry Regulatory Authority has decided to maintain the rule without change, ThinkAdvisor reports. Under Rule 4370, FINRA members are required to have a...
Lewitas Hyman Partner Douglas Hyman quoted by financial planning concerning financial advisor transitions
For financial professionals who are transitioning employment in their industry, it is important to consider the legal implications and potential risks involved in making the move. Understanding these issues ahead of time can make the entire process smoother and help...
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...
