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A former broker for Edward Jones has won a request to have the circumstances surrounding his departure revised on his record, reports AdvisorHub. A Financial Industry Regulatory Authority arbitration panel issued an award in favor of the expungement request of Michael...
A Louisiana town and its former mayor are among those facing fraud charges over two municipal bond deals, the Securities and Exchange Commission announced. The SEC filed a complaint against the town of Sterlington, former mayor Vern A. Breland, Sterlington’s...
A former broker for UBS was ordered to pay the firm back over $2.3 million but also had the language on his U5 termination form revised, AdvisorHub reports. A Financial Industry Regulatory Authority arbitration panel issued the ruling last month in the case of Bruce...
The Securities and Exchange Commission announced that it is penalizing a registered investment advisor and broker-dealer for misconduct involving the receipt of third-party compensation, reports ThinkAdvisor. The SEC took the action against San Diego based-Madison...
RiverSource Distributors Inc., a subsidiary of Ameriprise Financial Services LLC, has been fined $5 million by the Securities and Exchange Commission for improper switching or replacing of variable annuities, Financial Advisor reports. The charges involve sales...
A former Wisconsin financial advisor pleaded guilty in federal court recently to charges of defrauding his clients through a number of misrepresentations, according to ThinkAdvisor. 32-year-old Michael Francis Shillin, a former broker with Raymond James Financial and...
A Detroit-based hedge fund and its sole owner have been charged with defrauding investors out of $39 million in a multi-year scheme, the Securities and Exchange Commission announced. The SEC filed a complaint in the Eastern District of Michigan against EIA All Weather...
A panel of Financial Industry Regulatory Authority arbitrators sided with The David and Heather Weir Family Trust in their dispute with UBS Financial Services, ThinkAdvisor reports. The case involved UBS’s Yield Enhancement Strategy, a managed-account options strategy...
The Securities and Exchange Commission is proposing new rules to prevent misleading claims about funds’ environmental, social or governance (ESG) credentials, AdvisorHub reports. The SEC said the amendments are designed to promote consistent, comparable and reliable...
A former broker for Credit Suisse has won compensatory damages from two units of Wells Fargo in a dispute over deferred compensation, according to ThinkAdvisor. Anthony Aris Dertouzos had failed a claim against Wells Fargo Advisors and Wells Fargo Clearing Services in...
