Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Advisor Execs Rip Hightower for Suing Breakaway RIA
By Jeff BermanLPL's Burt White likened the suit against Michael Policar to "hanging beheaded pirates in the harbor" as a warning.
February 04, 2022
Ex-NYLife Rep Gets 11-Year Prison Sentence for Stealing $1M From ClientHe spent the money on items including a BMW, Rolex watches, guns and child support payments, according to the DOJ.
February 02, 2022
Wells Fargo 'Manipulated' FINRA Arbitration Process: JudgeFINRA allowed one lawyer to "secretly red line" the list of arbitrators under consideration, according to a ruling.
February 02, 2022
Ex-LPL Rep Charged With Fraud, Could Get 37 Years Behind BarsThe former LPL broker is accused of raiding clients' annuities, the Justice Department says.
January 25, 2022
Ex-UBS Broker Spent $4.6M of Client Money on Gifts for Women: SECThe former broker is charged with defrauding a family out of more than $5 million.
January 24, 2022
Merrill Fires Advisor Who Threw Racist Insults, Drink at Smoothie ShopJames Iannazzo was charged with intimidation based on bigotry or bias, breach of peace and criminal trespass.
January 21, 2022
New Court Date Set for Suspect in Merrill Exec's MurderThe date for a preliminary hearing in Anthony Duwayne Turner's case has yet to be set, according to the Los Angeles County District Attorney's Office.
January 14, 2022
Ex-Broker Gets 17.5 Years in Prison for 'Masterminding' Ponzi SchemeAt least 1,000 investors were bilked out of more than $100 million over a decade, according to the Justice Department.