N.Y. Action on Standard Chartered Surprised Other Regulators
Not only was Standard Chartered apparently blindsided by the move, so were federal regulators; negotiations had been ongoing for some time for what the bank hoped would be a quiet settlement.
Death, Delusional Clients and Other Hard Lessons From a Breakaway Broker
How a friend’s death led a wirehouse broker to go independent; lessons learned from a difficult, delusional client—these are just a few of the stories veteran advisor Bob Collins tells...
Protecting the Family Jewels
Whether your clients are decked-out glitterati or simply treasure Great-Grandma’s pearls, here’s what you should know.
Could You Have Saved These Clients? 7 Scams That Hit Celebrities Hard
Financial scandals are usually named for their perpetrators, not their victims, unless those ripped off are the famous.
PFGBest Collapse Leads to CFTC, FBI Inquiries
The CFTC and FBI have taken action against a Cedar Falls, Iowa-based broker after the discovery that $220 million was missing out of $225 million in customer funds. PFGBest founder Russell Wasendorf attempts suicide outside the firm’s offices.
SEC, FINRA Enforcement Roundup: FBI Hunts Fugitive Advisor
In recent enforcement actions, an advisor on the lam who defrauded clients of nearly $40 million had his assets frozen by the SEC, and FINRA launched a pilot program for large arbitration cases.
The SEC Sure Isn’t Describing the Mark Spangler I Know
A cautionary tale or a rush to judgment? Why I'm giving the benefit of the doubt to the former NAPFA chairman.
Ross Mandell Sentenced to 12 Years in Prison
Ross Mandell was sentenced by Judge Paul Crotty for his conviction at trial last summer on conspiracy and securities fraud charges. The government asked that he be sent away for life.
Pension Plans’ Fiduciary Officer Indicted for Fraud, Theft
A trustee and fiduciary for a number of employer pension plans was indicted on April 10 for 17 counts of wire fraud and 14 counts of theft from an employee pension benefit plan.
SEC Warns: Watch Out for Agency Imposters
The SEC has issued an investor alert to warn of impersonators who claim to be SEC employees for the purpose of defrauding individuals.