Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Wells Fargo to Pay $32.5M in 401(k) Suit
By Melanie WaddellIt put employees' retirement assets into proprietary CITs with high fees and no track record, the suit states.
March 29, 2022
House Passes Secure Act 2.0, Including RMD ChangesA top annuity advocate hopes for a bill to reach Biden this year.
March 28, 2022
Ex-Broker Sentenced to Over 4 Years in Prison for Elder FraudThe ex-rep, who worked for Morgan Stanley before the fraud took place, also must pay over $968,000 to the victims.
March 23, 2022
April Court Date Set for Suspect in Merrill Executive's KillingA preliminary hearing is scheduled for April 25, according to a spokesman for the Los Angeles County district attorney.
March 18, 2022
Billionaire Robert Brockman Offers to Put Up $1.45B to Ease IRS LiensRobert Brockman is facing both criminal and civil charges that he evaded taxes on $2 billion in income and laundered money.
March 17, 2022
Rep Fired From Merrill After Smoothie Incident Has a New GigJames Iannazzo is now a registered rep at Aegis Capital, according to FINRA's BrokerCheck.
March 16, 2022
Ex-LPL, Wells Rep Stole $500K, Gambled With Client Money, Prosecutor SaysIf convicted of stealing over $500,000 from clients, the barred broker faces a maximum of 65 years in prison.
March 15, 2022
Vanguard Hit With Class-Action Suit Over Target Date Fund Tax BillsVanguard intentionally created a selloff resembling an "elephant stampede" when it slashed minimums for institutional TDFs, according to the suit.