Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
SEC Won't Modify Texting Settlements for LPL, Raymond James, 14 Others
By Melanie WaddellSixteen firms sought to change their off-channel messaging orders, saying firms that settled later got better terms.
April 02, 2025
Ex-Morgan Stanley Advisor Sentenced to 12 Years in Fraud SchemeJesus Rodriguez of El Paso, Texas, spent clients' money on himself, including a Lamborghini purchase, authorities found.
April 02, 2025
Commonwealth Wins Reversal of $93M SEC Revenue Sharing PenaltyA court last year found Commonwealth liable for failing to disclose a mutual fund revenue-sharing pact.
March 27, 2025
FINRA Orders Firm Expelled After Chief Justice Denies Emergency ClaimThe expulsion of Alpine Securities, which is challenging FINRA's constitutionality, won't take effect unless the SEC upholds it.
March 26, 2025
Coventry Asks Court for a Life Expectancy Forecaster's RecordsThe firm thinks the forecaster, Lapetus, is too pessmistic about how long people will live.
March 25, 2025
When to Consider a Stock Redemption Agreement for ClientsThe Supreme Court's Connelly ruling puts the buy-sell landscape in a different light.
March 25, 2025
Barred Broker Charged in Alleged $1.24M Ponzi SchemeMarat Likhtenstein, who was fired from Osaic in 2024, now faces grand larceny charges.
March 25, 2025
JPMorgan Fights New 401(k) Lawsuit Alleging ‘Devastating’ Participant LossesEmployees are suing over $2.4 billion in plan assets invested in an in-house stable value fund.