California
Get the latest news and insights on California's financial regulations, enforcement actions and litigation.
December 15, 2021
Ex-Ameriprise Rep Who Defrauded Retirees Gets 14 Years in PrisonThe former broker scammed clients out of over $12 million as part of a real estate investment scheme.
December 13, 2021
7 Worst Bogus Advisors in America: 2021The head of an investment club called Amongst Friends and a dentist were among those accused of running investment scams.
November 24, 2021
2 More States Adopt Commission-Friendly Annuity Sales RulesAdvocates of the model hope to ward off the imposition of a broad fiduciary standard.
November 11, 2021
Schwab Asks Court to Dismiss Class-Action Suit Over Cash SweepsThe firm says the case should be dismissed "for lack of jurisdiction" and a "failure to state a claim on the merits."
August 31, 2021
California Supreme Court Applies Life Policy Termination Rules to Pre-2013 PoliciesThe court says the state's grace period and notice law affect policies issued before the Jan. 1, 2013, effective date.
August 20, 2021
Health Care Group to Pay $2M for Misleading ClientsHealth Plan Intermediaries Holdings left consumers with limited coverage and tens of thousands of dollars in bills, says California's insurance commissioner.
August 10, 2021
Jefferson National to Pay $150K Penalty Over Annuity SalesThe life insurer also will repay $14,000 to an 86-year-old consumer who purchased an annuity she didn't understand.
June 03, 2021
Dually Registered Firm Must Pay SEC $1.2M Over 12b-1 FeesCentaurus Financial breached its duty to seek best execution, the SEC said.
May 12, 2021
DOL Withdrawal of Independent Contractor Rule Threatens Indie Advisor Business Model: FSIDOL's decision to withdraw the rule stands to increase costs for advisors and their firms, FSI's David Bellaire tells ThinkAdvisor.
February 05, 2021
Lawsuit Alleges Broad Conspiracy on GameStop Trading RestrictionsInvestors are suing nearly three dozen defendants including Robinhood, Schwab, Apex Clearing and Citadel.