Bloomberg
Credit Suisse Group AG’s declaration a few years ago that it would quit managing money for rich Americans seemed too crazy to be true: Why would the bank get out of the world’s biggest wealth-management market at the very time its new boss was betting its future on that business? Now, a newly disclosed cache […]
InvestmentNews
A Finra arbitration panel ordered TD Ameritrade Inc. to pay an investor $720,816 in a case involving an alleged lack of oversight of an investment adviser to whom it provided custodial services. In an Aug. 28 award, a three-person, all public Financial Industry Regulatory Authority Inc. arbitration panel found TD Ameritrade liable for losses a […]
AdvisorHub
J.P. Morgan Securities has paid $14 million to settle a claim that it failed to supervise a Los Angeles broker who a client accused of a litany of sales, trading and loan promise abuses, according to regulatory filings. The broker, Antoine Souma, joined Morgan Stanley’s private wealth business in June 2016, and “vehemently denies” the […]
NSCP Currents
The following is the second in a series of interviews that will feature plaintiffs’ attorneys who represent claimants pursuing securities fraud claims against financial services firms. NSCP member Richard Szuch sat down with Phil Aidikoff for this interview. Richard is a principal with Bressler Amery & Ross; he has defended the financial services business in […]
Bloomberg
Chatham Asset Management, a hedge fund operator that owns the National Enquirer and is under review by securities regulators, is adding a general counsel who was previously a government enforcement attorney, according to a company memo. Daniel A Goldfried, a white-collar litigator at McGuireWoods LLP, will soon join Chatham as its only in-house lawyer, according […]