Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
New DOL Fiduciary Rule Faces Another Delay
By Melanie WaddellThe department is grappling with two fiduciary-related lawsuits and other regulatory priorities.
September 21, 2022
Advisor Charged With Securities Fraud in Insider Trading SchemeAn advisor allegedly traded after a friend discussed a potential acquisition at the company he worked for.
September 19, 2022
Ex-Morgan Stanley Broker Pleads Guilty to $7M Ponzi SchemeShawn Edward Good bought at least five luxury cars with clients' money, according to prosecutors.
September 14, 2022
Pretrial Hearing Set for LPL Network Firm Employee Charged in Double MurderThe next hearing for Ramy Fahim has been scheduled for Dec. 2.
September 14, 2022
SEC Charges Advisor With Stealing Over $743K From Clients, Including MLB PlayerThe fund transfers were used to pay for charges on his dead mother's American Express card, according to the SEC.
September 14, 2022
Judge Orders Ambassador Advisors to Pay $2M Over 12b-1 Fee InfractionsIn March, a jury ruled in favor of the SEC against Ambassador Advisors and three of its executives.
September 13, 2022
TD Ameritrade, BofA Among 4 Firms Sued Over Biometric Voice PrintsFour separate complaints allege the firms violated the California Invasion of Privacy Act.
September 09, 2022
Ex-LPL Rep Pleads Guilty to Witness Tampering, FraudThe barred broker pleaded guilty to fraud and identity theft last year but scrapped the plea deal.