Stephen Moleski, who was arrested for a 1989 scheme, was alleged to be running an unregistered offering and acting as an unregistered broker.
A retailing matriarch won the decision against her grandsons, who invested her money in complex products. J.P. Morgan and the grandsons were also found liable for elder abuse under Florida law.
Word-of-mouth from satisfied clients has always been an important channel for generating new business. Now advisers can directly reach out to potential clients and share testimonials.
A change in test governing whether workers are classified as employees or independent contractors could upend the business models of FSI members.
Stefan He Qin stole investor money from his Virgil Sigma Fund and attempted to dip into his VQR Multistrategy Fund to pay back investors in the first fund, prosecutors say.
The Coca-Cola Bottlers' Association this week was sued over fees and investments in its multiple employer plan. Former participants in a terminated 403(b) sponsored by a health care system also filed claims.
Regulator charges the firm failed to act on a former broker who was loading customer accounts up with energy sector master limited partnerships.
Regulators say the insurance company’s American General Life subsidiary operated in the state without a license, undertaking four large-scale pension risk transfers and bidding on others.
GPB raised $1.8 billion from investors starting in 2013 through sales of private partnerships, but it has not paid investors steady returns, called distributions, since 2018.
The SEC has awarded more than $738 million to 134 whistleblowers since 2012. But becoming a tipster could involve sacrifices.
Few automatically match unclaimed retirement accounts with their owners. In most cases, only about 3% of accounts are claimed within two years of being turned over to the state.
The majority of newbies in 2020 were under 45, according to the survey; they were more likely to be racially diverse and said they were investing for retirement.
The meeting with the SEC, the Fed, the New York Fed and the CFTC is the Treasury secretary's first public effort to address the tumult involving GameStop shares.
The Democratic senator wants to know whether the limits the online brokerage set on trading shares of GameStop and other companies were influenced by hedge fund investors or financial services partners.
Fiduciary advocates are pressing the Securities and Exchange Commission to overhaul the measure. FSI and other industry groups will lobby to keep it intact.
The broker-dealer self-regulator cited a surge of new retail investors entering the markets via online platforms, which has led to a spike in more sophisticated kinds of trading, such as options.
The Certified Financial Planner Board established a 15-member commission to review and recommend changes to its sanction guidelines for current mark holders as well as its fitness standards for candidates for certification.
The VirginiaSaves program would be similar to automatic IRAs used in several states, including Oregon, Illinois and California. Virginia’s House of Delegates passed the measure last week by a vote of 56 to 44.
The first investor arbitration claims involving the products have been decided over the past few months, but the claim against Arete Wealth Management appears to be the first substantial win for investors against a broker-dealer.
The Labor Department has stepped up its audits of plans that have lost track of participants, and noted last month that in 2020 alone, investigators had helped reunite missing participants with plan benefits “with a present value in excess of $1.4 billion.”
