When Kathy Birk retires next month as manager of Morgan Stanley’s local operations, she’ll achieve a rare milestone in a stressful industry where most people wash out or get fired first.
The case against the former star Merrill Lynch broker centered on his practice of keeping clients in commission-based accounts even as the securities industry moved toward fee-based accounts, which in many cases were cheaper for clients.
J.P. Morgan has won a preliminary injunction against three former employees in its Carmel office, who are accused of taking at least 20 clients with millions of dollars in assets to a competing firm.
Investment firm LPL Financial has agreed to pay a civil penalty for "various deficiencies" related to supervision of its Indiana operations, the Secretary of State’s office said Monday.
Thomas. J. Buck, a former top investment broker who was fired by the local office of Merrill Lynch in 2015 after nearly 34 years with the firm, is scheduled to be sentenced next month after pleading guilty in January to one count of securities fraud.
Regulators say the broker violated industry rules by refusing to cooperate in the investigation of a customer complaint against him.
In an attempt to reopen his case, Keenan Hauke says Barnes and Thornburg partner Larry Mackey—who is now married to Hauke’s ex-wife—did not adequately represent him.
Thomas. J. Buck, a former top investment broker who was fired by the local office of Merrill Lynch in 2015 after nearly 34 years with the firm, is now facing serious prison time, according to federal officials.
Authorities say the man defrauded a longtime client out of nearly $1.2 million and spent that money on vacations, golf club memberships, meals and retail purchases.
A prominent Indianapolis family that filed a complaint against an RBC Wealth Management broker seeking nearly $20 million in damages recently accepted $3.5 million to resolve the dispute.
Authorities say David Girton failed to disclose several civil judgments and tax liens against him in a timely fashion, in violation of financial industry regulations.
FINRA permanently banned a former stockbroker from practicing in the securities industry after he refused to testify about an ongoing civil Ponzi scheme suit.
Cooke Financial Group LLC, which oversees $1.7 billion in assets, is parting ways with Wells Fargo Advisors LLC. Principals Chris Cooke and Brian Cooke have bought into Chicago-based Noyes and will run the largest of its seven offices.
The sale ends a 92-year run of ownership by the Peterson family, which opened the business five years before the onset of the Great Depression and built a preeminent position in the municipal bond business that continues today.
Financial industry regulators banned one brokerage firm employee for life for impersonating customers, suspended another one for making unauthorized trades and are seeking punishment for a third.
The action, in rules issued Wednesday by the Labor Department, could shake up how billions of dollars in Americans' retirement investments are handled by brokers.