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…
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.…
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…
FINRA’s ongoing campaign to rein in alleged sales abuses involving short-term trading of unit investment trusts in customer accounts has led a 23-year veteran advisor to accept a $10,000 fine and three-month suspension. Miller Stern Lawyers – 410-Law-Firm is currently investigating clients of Stifel Nicolaus and all firms and broker…
Miller Stern Lawyers – 410-Law-Firm is currently investigating clients of Merrill Lynch and Charles Kenahan and Dermond Cavanaugh who are may be victims of, and suffered damages and losses, due to abuses such as churning, beach of fiduciary duty, overcharging , and unauthorized trading. According to CNBC and other new…
Morgan Stanley terminated around ten brokers following a nationwide probe of alleged abuses in its inherited account program, according to lawyers, firm sources and former managers per advisor Hub. Miller Stern Lawyers – 410-Law-Firm is currently investigating clients of Morgan Stanley who are victims of, and suffered damages and losses,…
Securities Experts Roundtable The Expert’s Examiner Stifel, Nicolaus & Co. v. Stern, No. 1:20-cv-00005 (D. Md. Mar. 31, 2020). September 6, 2020 We reach back in time a bit to present this Explained Award, but for good reason, we think. First, it’s still timely, in that a post-Award challenge…