Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Interactive Brokers Hit With Class-Action Suit Over $23M Ponzi Scheme
By Melanie WaddellThe firm disregarded its own compliance department's red flags and written internal compliance policies to further aid the scheme, the suit states.
July 16, 2021
Broker Who Won $34M Bias Suit Praises Firm's Diversity EffortsPledges can be tough to fulfill and follow-through is crucial, says former Edward Jones advisor Wayne Bland, the lead plaintiff in the class-action suit.
July 08, 2021
Merrill Faces Discrimination Suit by Black Ex-RepsTwo former Merrill brokers allege Black advisors at the firm received less compensation and were promoted less often than white advisors.
July 08, 2021
LPL Advisor Charged in Hit-and-Run DeathThe LPL broker and advisor allegedly struck a 41-year-old man with his car and then fled on foot.
June 21, 2021
Goldman Gets Review of Investor Suit in Supreme Court RulingInvestors, led by the Arkansas Teacher Retirement System, say they were deceived by the firm's assurances that it was avoiding conflicts of interest.
June 14, 2021
Dentist Turned Advisor Fined Over Fraudulent OfferingsThe advisor has agreed to pay $600,000 to settle allegations he engaged in three separate securities frauds, the SEC says.
June 11, 2021
Ex-LPL Broker Faces Up to 20 Years in Prison for Raiding Clients' AnnuitiesThe former broker has been charged with three counts of wire fraud, one count of mail fraud and one count of aggravated identity theft.
June 10, 2021
Ex-Broker Who Defrauded Older Clients Sentenced to Over 5 Years in PrisonThe former Mutual of Omaha rep was also ordered to pay restitution of $2.4 million to his victims.