RBC Wealth Management is facing a lawsuit from one of its former client associates who alleges racial discrimination and retaliation, reports AdvisorHub. The complaint was filed in California state court by Daniell A. Dolphin, an African American and Hispanic...
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At least 240 brokers file claims against Merrill Lynch over deferred compensation
At least 240 brokers are filing arbitration claims against Merrill Lynch in a dispute over deferred compensation, AdvisorHub reports. The Feb. 13 court filing alleges Merrill Lynch wrongly withheld their deferred compensation when they changed firms, in violation of a...
Request denied for restraining order against ex-Wells Fargo broker accused of violating agreements
A federal judge has issued a ruling in the case of Wells Fargo Advisors' complaint against one of its former brokers, according to AdvisorHub. Judge Matthew F. Kennelly denied Wells Fargo's request for a temporary restraining order against the broker, Elias S....
Judge rules against Hightower in bid to enforce non-compete agreement with former advisor
Hightower Advisors lost a round in federal court in a legal battle with one of its former advisors, reports AdvisorHub. The matter involves Darren Reinig, who provided financial services and investment advice through the firm from July 2019 to December 2021. District...
UBS to pay $3.5 million over failures in supervising brokers’ short-term trading
A settlement has been reached over allegations that UBS Wealth Management USA's broker-dealer failed to adequately supervise its brokers, according to AdvisorHub. In a disciplinary letter published recently, the Financial Industry Regulatory Authority said the...
