Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Ex-LPL Rep Pleads Guilty to Stealing More Than $600K From Retired Client
By Jeff BermanThe 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.
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.
April 16, 2021
Robinhood Sues to Kill Fiduciary Rule in MassachusettsThe state said on Thursday it would seek to revoke Robinhood's license, according to Robinhood.
April 13, 2021
JPMorgan Sues Ex-Advisor for Moving Clients to Wells FargoThe advisor has been calling former clients, with at least one reporting he was annoyed by multiple calls, JPMorgan says in the suit.
April 13, 2021
Ex-Schwab Client Arrested for Refusing to Return $1.2M Transferred by MistakeThe ex-client was charged with theft, bank fraud and illegal transmission of monetary funds, according to a news report.
April 12, 2021
Edward Jones Sued by Ex-Rep Over Sexual HarassmentA former advisor at the firm says a manager pressured her into "into a forced sexual encounter," according to court documents.