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 […]
AdvisorHub
The widow of a Merrill Lynch broker who allegedly specialized in helping employees at Facebook and other “high-technology” firms invest proceeds of their stock options has sued Merrill for $30 million, claiming its distribution of his “book” without paying him or his estate violated his contract and the Family and Medical Leave Act. Richard Hanson, […]
Bloomberg
Financial advisers counting on an industry pact to switch jobs safely with clients in tow could run into obstacles after a ruling by a Georgia state court last week. The decision, involving advisers who jumped to Morgan Stanley from Aprio Wealth Management LLC in 2014, holds that those who agree to give their employers advance […]