Ponzi scam artists will have greater freedom to flourish if state regulators get expanded oversight of registered investment advisory firms, according to attorneys on a panel today at the annual Financial Services Institute conference in New Orleans.
Securities America Inc. was tagged last month with a lawsuit from Massachusetts regulators alleging that the firm misled investors who were sold high-risk private placements.
A Securities America adviser named last week in a class action said he had no way of knowing that securities he sold would later blow up.
As part of her leadership role at Merrill Lynch & Co. Inc., Sallie Krawcheck has shown clear deference to the firm's storied past and has assiduously worked the phones, reaching out to leading members of the firm's old guard, including former chief executives David Komansky and Daniel Tully.
A sister who sued her brother and his brokerage firm won a $608,000 arbitration decision last month in a case that alleged, among other claims, churning of highly volatile stocks in the weeks leading up to the market collapse of September 2008.
The father of modern portfolio theory plans to spend plenty of face time with advisers at 1st Global Capital
A wrecking ball has hit ING Groep NV's global supermarket of financial services, whose many parts include a $600 billion global asset management business and a U.S broker-dealer network of 8,700 reps and advisers.
Finra officials are trying to determine if GunnAllen Financial Inc., already reeling from the abrupt departure of its holding company's chairman, has enough capital to stay in business.
In a rarity, an arbitrator last month cited elder abuse in tripling the damages a discount securities firm must pay a 95-year-old client.
