The Practice: Regulatory/legal issues
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February 22, 2019Morgan Stanley Faces Conflicting Claims from Buzz Aldrin and his Son over TrustThe Apollo 11 astronaut’s son threatened action if the wirehouse transfers money out of a trust Buzz Aldrin wants terminated.No Comments
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February 22, 2019Ohio National Extends Buyout Offer over Controversial Variable Annuity Trailing CommissionsBroker-dealers and registered representatives now have until March 15 to decide if they want to surrender or exchange their contracts for more money.No Comments
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February 22, 2019Franklin Templeton Agrees to $14 Million Settlement in 401(k) Self-Dealing LawsuitThe settlement is among the largest in recent months.No Comments
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February 21, 2019SEC’s Regulation Best Interest Slammed as "Misleading"“Best interest” and “fiduciary” aren’t equal, the National Association of Personal Financial Advisors says.Last Comment: February 21, 2019
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February 21, 2019Morgan Stanley Lawsuit Might Force More Customer Disputes Into ArbitrationThe wirehouse is trying to force someone to arbitrate a claim that has nothing to do with their accounts, merely because they were a customer.No Comments
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February 21, 2019B-D and Transfer Agent Charged in Alleged Microcap FraudSpartan Securities Group and Island Capital Management were allegedly involved in the sale of stock in sham companies.No Comments
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February 20, 2019Galvin’s Office Bars Former Broker Over Alleged $1 Million FraudThe alleged fraud spanned 26 years.Last Comment: February 20, 2019
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February 20, 2019Lawyer Slams Maryland Proposal: Multiple Conduct Standards Will Hurt Industry and Public AlikeAlthough imperfect, the SEC’s proposed Regulation Best Interest is still the best solution, he says.No Comments
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February 20, 2019Here’s Who Might Soon Be Buying Kestra FinancialA sale could be announced within weeks, sources tell InvestmentNews.No Comments
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February 20, 2019Insurance and Annuities to be Subjected to Best Interest Standard at State LevelBeginning in August, the standard will apply to broker-dealers and insurance agents licensed in the state or making recommendations to New York residents.No Comments
