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Fidelity Advisor Files Lawsuit Alleging Wrongful Termination Over Whistleblowing

May 17th, 2024 at 11:41 AM
A former Fidelity Investments advisor, Michael Maeker, has initiated legal action against his former firm, alleging wrongful termination in response to his reporting of anti-investor sales tactics.
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CFTC Investigates Banks for Potential Whistleblower Suppression

May 16th, 2024 at 10:26 AM
The Commodity Futures Trading Commission (CFTC) has initiated inquiries into several banks, including JPMorgan Chase, Bank of America, and Citigroup, regarding potentially hindering whistleblowers from disclosing information, as reported by Bloomberg News.  
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NFA Issues Order Against 50.ai Investments LLC

May 15th, 2024 at 2:54 PM
The National Futures Association's (NFA) Business Conduct Committee (BCC) has taken action against 50.ai Investments LLC, a former NFA Member commodity pool operator and forex firm, for violating multiple NFA compliance rules.
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Former Edward Jones Advisor Cleared to Solicit Clients for Ä¢¹½´«Ã½lls Fargo Advisors

May 13th, 2024 at 1:12 PM
In a recent decision, a panel of three Financial Industry Regulatory Authority (FINRA) arbitrators ruled against Edward D. Jones & Co., allowing one of its former advisors, Justin P. Mackay, to solicit his former clients to transfer their assets to Ä¢¹½´«Ã½lls Fargo Advisors.
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SEC Bars Financial Advisor for Securities Trading Scheme

May 10th, 2024 at 1:33 PM
The Securities and Exchange Commission (SEC) has barred financial advisor Andrew Komarow from the securities industry, following a similar bar by FINRA.
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Colorado Cracks Down on Imposter Investment Firms

May 9th, 2024 at 1:10 PM
Colorado Securities Commissioner Tung Chan recently took action against two fraudulent investment firms, Joyce Dunbar Management, and Fluxia Capital Management, accusing them of deceptive practices.
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J.P. Morgan Securities Ordered to Pay Damages Over Defamation Claims

May 8th, 2024 at 11:55 AM
J.P. Morgan Securities has been directed to pay $250,000 in damages to a New York financial advisor following allegations of defamation in a regulatory filing upon his departure from the firm in 2022.
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UBS Advisors Ordered to Pay Nearly $334,000 in Dispute with AllianceBernstein

May 7th, 2024 at 1:47 PM
An arbitration award revealed that two UBS advisors in Philadelphia, Elijah Dornstreich and Ryan DePaul, are required to pay approximately $334,000 in damages, legal fees, and costs to their former firm, AllianceBernstein, due to a dispute over customer solicitation.
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SEC Cracks Down on Misuse of Artificial Intelligence

May 6th, 2024 at 2:53 PM
The U.S. Securities and Exchange Commission (SEC) has taken action against two money managers, Delphia (USA) Inc. and Global Predictions Inc., for allegedly making false and misleading statements regarding their utilization of artificial intelligence (AI) technology.
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Court Grants Former Advisor Temporary Protection in Legal Battle Against Hightower Holdings

May 3rd, 2024 at 11:24 AM
In a legal battle between a former advisor and Hightower Holdings, a Washington state court has issued a temporary restraining order (TRO) against the Chicago-based firm.
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