Financial Advisor Fraud

Newbridge Securities Corp.

Newbridge Securities Corp. Complaints Rise Due to GWG L Bonds

Recently many customers of Newbridge Securities Corp. have filed Financial Industry Regulatory Authority (FINRA) arbitration claims for recovery of investment losses against it and named several of its financial advisors in their claims. In all, over thirty regulatory cases have been filed against the firm. The settlements, fines and arbitration awards put together have already […]

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Schwab Intelligent Portfolios

Schwab Intelligent Portfolios: Robo-Adviser Subsidiaries Ordered to Pay $187M for Misleading Clients

Three investment advisers, subsidiaries of Charles Schwab, have been hauled up by the Securities Exchange Commission (SEC). The reason provided is that they made “false and misleading statements” regarding the cash component in Schwab Intelligent Portfolios, its robo-adviser service. In addition, they allocated client funds in a manner that was demonstrated to be less profitable

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Western International Securities (WIS)

Western International Securities Along with 5 Brokers Charged for Reg BI Violation in GWG L Bond Sales

Steven Graham, Thomas Swan, Nancy Cole, Patrick Egan, and Andy Gitipityapon, all registered representatives of Western International Securities (WIS), a registered broker-dealer, have been charged for their violation of Regulation Best Interest (Reg BI) by the Securities and Exchange Commission (SEC). The broker-dealer has also been charged. The charge relates to their recommendation and sales

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Merrill Lynch Hit with $15.2 Fine For Mutual Fund Share Sales

Restitution of $15.2 million, which includes an interest component of $1.8 million, is what Merrill Lynch has been asked to be paid by the Financial Industry Regulatory Authority (FINRA), apart from being censured. The restitution pertains to customers purchasing mutual funds being charged excessive fees. Merrill avoided the levy of a fine by the self-regulator,

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