California judge dismisses lawsuit claiming that Edward Jones shuttled customers into fee-based advisory accounts that were more expensive than traditional brokerage accounts.
Most popular stories from June 23 to June 29.
A former client wins damages, legal and hearing fees after reviving complaint that a Barron’s-ranked broker helped her husband hide assets during a divorce proceeding.
Edward Jones agreed to pay $40,000 for allegedly inaccurate U4 complaint reporting while Ciitigroup reaches $377,000 settlement on UIT sales abuses.
Top Stories of the Week: Litigation Expenses on the Rise, Morgan Stanley Seeks TRO in California, and More
Most popular stories from May 26 to June 1.
Both companies, which have been rapidly growing their broker sales force in recent years, have raised estimated legal expenses by 10’s of millions over the past year.
Self-regulator’s hearing panel and appeals panel say Finra failed to prove that former Edward Jones broker stole $36,000 from a client with dementia in order to support a gambling habit.
Accuses Omaha broker running $146.7 million-asset office of printing out client account and contact information the day before he was fired two weeks ago.
Pennington, named general partner in January, got a 10% hike in compensation but St. Louis-based firm’s chief financial officer was its highest-paid executive.
Arbitration panel orders Ohio broker and Prospera Financial to pay Jones almost $25,000 for allegedly soliciting more than 1,000 Jones clients after his 16-year career with firm.