An arbitration panel has sided with an Indiana broker-dealer in a dispute with his former company over the circumstances surrounding his departure, AdvisorHub reports. The Financial Industry Regulatory Authority arbitrators ordered Indianapolis-based Sanctuary Wealth...
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Former Oregon securities broker found guilty of tax evasion
A former registered broker has been convicted of evading millions of dollars in income taxes and using the proceeds to pay for his lavish lifestyle, reports ThinkAdvisor. 65-year-old James Millegan of McMinnville, Oregon was found guilty recently by a federal jury of...
Wells Fargo ordered to pay $22 million for firing Chicago-area executive who alleged financial misconduct
Wells Fargo has been ordered to pay $22 million to an executive based in the Chicago area who was fired after alleging financial misconduct, Financial Advisor reports. The U.S. Department of Labor’s Occupational Safety and Health Administration issued the order after...
Former UBS broker files suit to block amended entry on U5 form
A former broker for UBS Wealth Management USA has gone to court to prevent the firm from posting what he says is defamatory information on his U5 termination form, AdvisorHub reports. Brandon Thomas, who was terminated in March after eight years with the company,...
NY appeals court overturns UBS whistleblower verdict
A new trial has been ordered by a federal appeals court in a whistleblower case involving a former UBS AG strategist, according to a report by Financial Advisor. The 2nd U.S. Circuit Court of Appeals in Manhattan overturned a 2017 jury verdict that had gone in favor...