Connecticut has sued an investment advisor for charging investors over $26 million in fees based on inflated values of assets. Meanwhile, the SEC says the firm defrauded hedge fund investors.
Final details of the distribution of billions of dollars of assets as
part of Barclays Plc's purchase of Lehman Brothers Holdings Inc.'s
brokerage unit were never approved, the judge said.
by
Dorothy Hinchcliff
The U.S. District Court has frozen the assets of a New Jersey investment
advisor charged with misappropriating approximately $2.5 million from
clients to support a lavish lifestyle.
by
Ray Fazzi
The Securities and Exchange Commission has charged two hedge fund
managers with allegedly stealing $1.6 million in fund
warrants and collecting fees on assets that they purposely overvalued.
Employer-sponsored 401(k)
retirement plans will have to disclose fees that savers pay by 2012, the U.S. Department of Labor said.
Though a new definition of the family office signals
status quo for most ultra-wealthy families, it could force some to
register as investment advisers like their commercial counterparts.
by
Ray Fazzi
The Securities and Exchange Commission has proposed new rules that
define when an advisory firm is a "family office" and exempt from
regulation under the Investment Advisers Act of 1940.
by
Karen DeMasters
Financial advisors should integrate compliance activities, and possibly
compliance software, into their entire practice, says a recent FPA report.
Citigroup Inc. has lost an
arbitration ruling that will force it to pay almost $12 million in
damages in a case against actor Larry Hagman
Lincoln Financial Advisors Corp. must pay more than $4.3 million to a
group a 22 investors who accused a manager at the firm of "selling
away," according to a securities arbitration ruling.
by
Karen DeMasters
In response to recent shenanigans, law enforcement has boosted its resources
devoted to investigating and prosecuting financial white-collar crime.
by David J. Drucker
This tool should make your SEC audit go more smoothly.
by Leila B. Boulton
Are high-frequency traders running over investment advisors and their clients?
Elizabeth
Warren, the Harvard Law School professor appointed to help set up a new
U.S...
by
Dorothy Hinchcliff
A broker who formed his own RIA has been charged with fraud by the SEC for misleading clients so
they would move more than $100 million in assets to his new firm.
by
Ray Fazzi
The SEC has charged a San
Francisco Bay Area advisor with urging his clients to switch assets between related
funds without disclosing that his firm reaped extra commissions as a result.
by
Ray Fazzi
Advisors reveal how they were impacted by the first "Wall Street" movie and protagonist Gordon Gekko's maxim:
"Greed is good."
SEC officials told lawmakers the agency has strengthened its investigations and is pursuing several people linked to the Texas-based executive.
by Bloomberg News
Executives are more likely to end up in court for their employees'
misconduct now that Congress has handed broader powers and more money to
the SEC.
A former Citigroup stockbroker was fined $500 and
received no prison sentence or probation for his involvement in a scheme
to let day traders eavesdrop over brokers'
"squawk boxes."
