If only you had read my column a year ago and resigned, as I suggested, you could have been enjoying yourself this summer rather than be dealing with an ever-widening mess.
A federal judge gave final approval to a $75 million settlement between Merrill Lynch and employees who sued the New York-based brokerage house in 2007 to recover losses they sustained from holding Merrill company stock in their retirement plans.
A 77-year-old retired securities attorney and his wife are taking Nuveen Investments Inc., Merrill Lynch & Co. Inc., Citigroup and others to court over $2 million in losses they claim to have suffered from investing in auction rate securities.
A widow yesterday filed an arbitration claim with the Financial Industry Regulatory Authority Inc. against Ameriprise Financial Services Inc., alleging that a broker there failed to properly advise her aged husband on a variable annuity purchase and botched a beneficiary designation.
The first lawsuit over the sale of allegedly fraudulent notes issued by Medical Capital Holdings Inc. was filed last week, and more look likely to come.
Money market mutual funds would benefit from a federal program to guard against the risk of illiquidity in the markets, analysts yesterday at the first Money Fund Symposium in Providence, R.I.
A federal judge in Chicago last week threw out a $1 billion lawsuit that accused AIG of committing fraud against insurance carriers in a workers' compensation pool.
Although members of the insurance industry and some broker-dealer executives are butting heads with state regulators on tougher annuity regulation, financial advisers cheered the proposed use of Finra-esque suitability layers for all annuity sales.
Finra isn't backing down from its position that it has jurisdiction over broker-dealers' financial planning activities.
Finra has expelled an investment firm in Southfield, Mich., for inappropriate practices that occurred in its retail foreign-currency business and repeated violations of registration and related rules, according to a statement.
Legitimate offshore banking by wealthy Americans may be the next casualty of the UBS AG tax evasion case.
Denver Nuggets basketball star Carmelo Anthony filed a lawsuit in federal court last week alleging that his former financial and business adviser transferred more than $2 million from his accounts without his knowledge or consent.
American International Group Inc. yesterday dismissed as “without merit” a lawsuit filed by two investors who claim the insurer should have covered the losses they suffered because they invested with Bernard L. Madoff.
A securities arbitration claim of $5 million has been filed against Merrill Lynch by a Freeport, Bahamas couple who say the preferred financial company stocks the company sold them were unsuitable, according to the law firm representing the couple.
Two law firms are investigating potential claims on behalf of retail investors who purchased leveraged, inverse and leveraged-inverse exchange traded funds and held them in their brokerage accounts for longer than one day.
Florida Atlantic University's College of Business yesterday stripped life insurance guru Barry Kaye's name from the school, according to published reports.
Boston's Fidelity Investments spent $940,000 — both directly and via third-party firms – during the second quarter to lobby Washington lawmakers on financial regulatory reform, retirement, taxes and other issues, according to recent filings with the Office of the Clerk of the House of Representatives.
The Financial Planning Association has urged the Securities and Exchange Commission to restrict the Financial Industry Regulatory Authority Inc.'s enforcement power.
A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which the Securities and Exchange Commission sued last month for fraud.
A retired Michigan couple has filed a securities arbitration claim against Merrill Lynch & Co. Inc. alleging that improper sales practices led to a loss of $650,000 — the latest example of what some securities lawyers see as a rising tide of claims involving the preferred stock of financial firms.
