The Financial Industry Regulatory Authority (FINRA) has fined and suspended a former Cetera Advisors broker in Tucson, Arizona for failing to invest his customers’ funds in a way that would have qualified for mutual fund breakpoint discounts, according to a settlement finalized on Thursday and as reported on Advisor Hub…
Merrill terminated 38-year Birmingham, Alabama based Advisor after settling a customer claim for $4.25 million, according to Advisor Hub and FINRA Brokercheck. Merrill fired the advisor for “conduct including making an unsuitable investment strategy recommendation and misrepresentation to a client” tied to an options investment and also for failing “to…
Fulton County Superior Court ***EFILED***QW Date: 1/25/2022 1:53 PM Cathelene Robinson, Clerk IN THE SUPERIOR COURT OF FULTON COUNTY STATE OF GEORGIA BRIAN LEGGETT and BRYSON HOLDINGS, LLC, vs. Petitioners, Civil Action File No. 2019CV328949 WELLS FARGO CLEARING SERVICES, LLC d/b/a WELLS FARGO ADVISORS, LLC and JAY WINDSOR PICKETT…
The Financial Industry Regulatory Authority hired an “independent” law firm to conduct a review of its arbitrator selection procedures after a Judge rebukes FIRNA in an order vacating a Wells Fargo award in a controversial case, according to FINRA. Finra, whom denied any flaw in its process, hired the law…
According to Advisor Hub, the Financial Industry Regulatory Authority has censured and imposed a $950,000 fine on Merrill Lynch Wealth Management for allegations that they engaged in ignoring flaws in its fraud detection systems allowed for two of their brokers to steal $6 million from clients. “Merrill’s systems did not…
According to Advisor Hub and FINRA Website, in a decision overturning an arbitration award, a Georgia state court judge vacated an Arbitration decision in which Wells Fargo successfully beat an investor’s $1.7 million damage claims over investment losses. According to the Order, Judge Belinda E. Edwards based her ruling in…
Miller Stern Lawyers is currently investigating claims against J.P. Morgan. According to Advisor Hub and industry records, J.P. Morgan Advisors was ordered to pay $4 million in damages to a former client in their San Francisco office. Industry records confirms that Lacey Winston Keath alleged unsuitability in filings against J.P.…
According to Advisor Hub and other industry news sources the Financial Industry Regulatory Authority levied sanctions against Merrill Lynch and two of its brokers over allegedly early rollovers of Unit Investment Trusts. Miller Stern Lawyers is currently investigating matters pertaining to early rollovers of Unit Investment Trusts and other such…
Miller Stern Lawyers – 410-Law-Firm is currently investigating for clients of former Morgan Stanley broker Barry F. Connell and all firms and broker dealers who may be victims of, and suffered damages and losses, due to abuses such fraud, mutual fund abuses, unsuitable mutual fund investments and failure to supervise, breach…
Miller Stern Lawyers – 410-Law-Firm is currently investigating clients of Ex Ameriprise Broker Angel Bardeche CRD4698117 and all firms and broker dealers who may be victims of, and suffered damages and losses, due to abuses such as flipping “A” Shares, mutual fund abuses, unsuitable mutual fund investments and failure to…