FINRA fined Merrill Lynch, Pierce, Fenner & Smith, Inc. $8 million for violations linked to mutual fund sales charge waivers. The fine is part of a settlement involving overcharging practices that date back to 2006. Merrill Lynch failed to offer the lowest-cost share classes to eligible customers like certain charities and retirement accounts. As investors, […]
Andrew Scott Corbman, a former broker and investment adviser, spent 21 years in the securities industry before 2016. His employment history at several broker‑dealers appears in his FINRA BrokerCheck record. The Securities and Exchange Commission (SEC) filed a civil action against him following his personal bankruptcy proceedings. On October 3, 2025, a federal judge in
Andrew Scott Corbman Rep Barred And Ordered To Disgorge $4.15M Read More »
The Kirk Crossen investment fraud case shows how a trusted adviser can betray investors’ confidence. Investment fraud happens when someone tricks others out of their money with false promises and misleading information. In this case, Crossen faces four felony charges related to taking $275,000 from a long-time friend. He promised to invest the funds conservatively,
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A federal judge who managed the bankruptcy proceedings for GWG Holdings no longer oversees the case. This change came after concerns about judicial conduct and legal administration surfaced. The removal of a sitting judge is a rare step in court cases like these. We see this as an important event in the ongoing GWG bankruptcy
Federal Judge Removed From GWG Case Amid Scandal Fallout Read More »
FINRA recently sanctioned Independent Financial Group LLC (IFG) with a $100,000 fine and a censure after finding the firm allowed a suspended registered representative to continue conducting activity from April through November 2022. IFG agreed to the settlement without admitting or denying the findings and waived any defense based on inability to pay. Below is