When Louis Hanna was fired in 2017, he was 50 years old, had early-stage prostate cancer and was seeking medical leave, according to the complaint.
MacKenzie Capital is offering investors of Business Development Corp. of America $2.50 per share compared to its recent value of $7.43.
While Morgan Stanley had backed away from recruiting advisers from direct competitors in recent years, the company has recently returned to the market for top-flight advisers.
The adviser, Nicholas Spagnoletti, used his personal cellphone to upload, possess and distribute images of child pornography, according to the Morris County Prosecutor's Office in New Jersey.
Nearly a quarter of RIAs eligible for assistance received loans in the first round of the program last year, according to a recent study. Firms that abused the program were much more likely to disclose a history of past fraud and other legal or regulatory misconduct.
Marcus Boggs pleaded guilty to wire fraud in March, and on Thursday was sentenced to 42 months in prison. One of the victims was a man who received approximately $5 million in a wrongful conviction settlement.
Advisory firms for years have continued to be plagued by imposters seeking access to clients' accounts.
MML Investors Services has entered into a placement agent agreement with NYDIG, a provider of technology and investment solutions that focuses on Bitcoin.
Anthony Turner, a commercial banker, faces one felony count each of murder and first-degree residential burglary, according to the Los Angeles County District Attorney's office. The case remains under investigation.
The company unveiled a new tool, called My Financial Plan, that is certainly akin to the work done by financial advisers, but is stressing publicly that it is not eying an avenue back into the wealth management business.
