Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Ex-Raymond James Rep Who Stole From Elderly Clients Gets 5 Years in Prison
By Jeff BermanThe firm's former broker and executive pleaded guilty to defrauding two clients out of nearly $1 million.
May 14, 2021
FSI Sues DOL for Nixing Independent Contractor RuleThe rule gave indie advisors "much-needed certainty regarding their classification status," said FSI CEO Dale Brown.
May 13, 2021
Ex-LPL Rep Pleads Guilty to Stealing More Than $600K From Retired ClientThe broker transferred funds from his 73-year-old client's investment accounts to a joint bank account and withdrew most of it for his own use.
May 03, 2021
Advisor Group Seeks at Least $900K From Venerable in LawsuitThe broker-dealer alleges the variable annuity firm is guilty of breaching the terms of a marketing agreement.
April 30, 2021
Barred Long Island Broker Charged in Pre-IPO Share ScamThe broker and his partner allegedly took $436,000 from investors who thought they were buying shares of Peloton, WeWork or Airbnb.
April 29, 2021
New York Best-Interest Rule for Annuity Sales Struck DownThe rule uses "subjective terms" and "fails to provide sufficient concrete, practical guidance," the judges said.
April 26, 2021
JPMorgan Gets Restraining Order Against Ex-AdvisorsThe firm's former advisors resigned from JPMorgan and joined LPL network firm Professional Wealth Advisors, allegedly soliciting clients to follow them.
April 20, 2021
Ex-Broker Charged With Stealing a Client's Life SavingsThe client was left with a $63,000 tax bill and his home in foreclosure, according to prosecutors.