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Congress Considers Expanding the Accredited Investor Definition

March 13th, 2025 at 2:30 PM
A recent congressional hearing examined potential reforms to the accredited investor definition, a critical threshold determining who can participate in private market investments.
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GPB Capital Investors May Receive Some Compensation Under Proposed Distribution Plan

March 12th, 2025 at 11:59 AM
GPB Capital Holdings investors have not received returns on their investments since 2018. According to InvestmentNews, after years of litigation, a court-appointed receiver has submitted a plan to return funds to the 17,000 investors who purchased $1.8 billion in GPB limited partnerships.
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Former CNBC Analyst Pleads Guilty to $2.7 Million Securities Fraud Scheme

March 11th, 2025 at 2:04 PM
James Arthur McDonald Jr., a former financial advisor and frequent CNBC guest analyst, has agreed to plead guilty to securities fraud, admitting to defrauding investors out of at least $2.7 million, as reported by ThinkAdvisor. The felony charge carries a maximum sentence of 20 years in federal prison.
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Ä¢¹½´«Ã½lls Fargo and Merrill Lynch Settle SEC Charges Over Cash Sweep Program Policies

March 10th, 2025 at 12:19 PM
The Securities and Exchange Commission (SEC) has announced settlements with Ä¢¹½´«Ã½lls Fargo Clearing Services LLC, Ä¢¹½´«Ã½lls Fargo Advisors Financial Network LLC, and Merrill Lynch, Pierce, Fenner & Smith Incorporated over allegations that they failed to implement proper policies and procedures for their cash sweep programs.
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FINRA Orders $8.2 Million in Restitution for Mutual Fund Customers

March 7th, 2025 at 1:59 PM
FINRA has directed Edward Jones, Osaic Ä¢¹½´«Ã½alth, Inc., and Cambridge Investment Research, Inc. to pay more than $8.2 million in restitution to customers harmed by failures to provide mutual fund sales charge waivers and fee rebates. 
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FINRA Fines Newbridge Securities $105,000 for Failing to Supervise Margin Trading

March 6th, 2025 at 11:28 AM
Newbridge Securities Corp., an independent broker-dealer based in Boca Raton, Florida, has agreed to pay a $105,000 penalty for failing to supervise financial advisors who recommended margin trading to clients.
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Morgan Stanley Advisor Wins Expungement Under FINRA's Stricter Rules

March 5th, 2025 at 1:42 PM
A FINRA arbitration panel granted a financial advisor’s request to expunge a 2022 customer complaint from her record, marking another test of FINRA’s stricter expungement rules.
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Federal Judge Strikes Down Hightower's Non-Compete Agreement in California

March 4th, 2025 at 10:51 AM
A federal judge in Wilmington, Delaware, ruled against Hightower Advisors in its effort to enforce non-compete agreements against a former advisor in California who sold his firm to Hightower.
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UBS Warns of Increased Advisor Departures Following Compensation Overhaul

March 3rd, 2025 at 2:19 PM
UBS Group AG executives cautioned that the firm may see a rise in advisor departures this year due to changes in its 2025 compensation plan.
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SEC Sanctions One Oak Capital and Advisor for Improper Conversions to Fee Based Accounts

February 28th, 2025 at 1:42 PM
The Securities and Exchange Commission (SEC) has penalized a New York-based registered investment adviser and its veteran adviser for converting brokerage accounts into advisory accounts that resulted in significantly higher fees without providing additional services.
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