In The News

DOL Abandons Its Statutory Mission to Protect Retirement Savers

In Deferring to the weak and ineffective SEC standard, the Labor Department is setting aside its much stronger mandate. Source: ThinkAdvisor.com | By Phyllis C. Borzi | July 29, 2020, at 2:21 PM When the Labor Department unveiled its draft retirement investment advice...

AIG Unit to Pay $40M Over 12b-1, Referral Fees Tied to Teacher Pensions

“Too often educators are targeted with misconduct related to their investments,” said SEC Chairman Jay Clayton. Source: ThinkAdvisor.com | By Melanie Waddell | July 28, 2020, at 10:34 AM Valic Financial Advisors agreed Tuesday to pay $40 million to the...

Morgan Stanley Put My Money in Unsuitable Investments: Elderly Client

Lawyers for an elderly Dallas investor say they have filed a Finra arbitration claim against Morgan Stanley and one of its brokers alleging that the firm’s “unsuitable recommendations” cost the investor more than half a million dollars in losses. Source:...

Wells Fargo Nearing $3B Settlement: Reports

Wells Fargo is set to pay some $3 billion to settle federal investigations of its fake accounts and related client abuses, according to several news reports. CLICK HERE to read the full article.   Source: ThinkAdvisor.com | By Janet Levaux | February 21, 2020, at...

Ex-MLB Player Wins $2M Payout From Merrill in Bond Dispute

Former outfielder Angel Pagán said his rep put his money in unsuitable Puerto Rico muni bonds and closed-end bond funds. Source: ThinkAdvisor.com | By Jeff Berman | January 22, 2020, at 3:24 PM Brian Rezny warned investors, “stay away from Puerto Rico...

J.P. Morgan Securities to Pay SEC $1.5M for Share Class Violations

“The brokerage firm failed to provide retail retirement account and charity customers with sales charge waivers and lower-fee share classes.” Source: ThinkAdvisor.com | By Melanie Waddell | January 15, 2020, at 2:12 PM CLICK HERE to read the full...

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