A federal judge in Minnesota last week ordered Trevor G. Cook jailed for failing to surrender more than $35 million in assets.
A Southern New Jersey securities broker who operated a $1.8 million investment fraud scheme has been sentenced to more than eight years in prison.
A former stockbroker accused of running a $21 million Ponzi scheme from his suburban Denver home for 15 years has pleaded guilty to felony mail fraud.
The game of musical chairs at Citgroup and Bank of America goes on. Citi announced today that its private banking operation has hired Steve Bodurtha as head of investments for North America. Mr. Bodurtha will oversee the investments platform for Citi Private Bank across the U.S. and Canada.
National Planning Corp., <a href=http://www.investmentnews.com/apps/pbcs.dll/section?category=datajoe&djoPage=basicchart&djoProjId=10815> one of the ten largest independent broker-dealers </a>, has reached a $3.9 million settlement with Massachusetts to reimburse a set of elderly investors in the state who lost money from investments that an NPC adviser allegedly described as safe.
Penson Worldwide has agreed to buy the clearing contracts of Broadridge Financial Solutions for $60-$70 million as part of a new partnership the two firms revealed Monday evening.
Gilbert Van Hassel has been named global CEO of the unit, while Jeff Becker will now be the CEO of ING Investment Management in the Americas
While The Charles Schwab Corp. reported a 34% drop in overall earnings for the third quarter, its adviser services business proved to be a bright spot.
After a year in which many investors lost substantial chunks of their wealth, mass affluent individuals are ditching their full-service brokers in favor of independent financial planners at a significant clip, according to a report released today.
