New York Times
How can we expect Wall Street’s me-first culture to change when regulators won’t pursue or even identify the me-firsters who are directly involved? That question came to mind after reading the terms of a settlement struck on Aug. 17 between the Securities and Exchange Commission and two units of Citigroup. It is a deal that […]
InvestmentNews
Original Story Finra is taking a closer look at the potential conflicts of interest in how firms pay their brokers. In targeted exam letter, the Financial Industry Regulatory Authority Inc.queries firms about a broad range of compensation practices, from the common payout grids, which determine how much of their annual revenue their brokers take home, to […]
Law360
After the U.S. Securities and Exchange Commission announced a $180 million enforcement action Monday against two Citigroup units accused of misleading investors ahead of the financial crisis, legal experts said the settlement has some clear winners: Citigroup and its attorneys at Paul Weiss Rifkind Wharton & Garrison LLP. Citi agreed to pay the amount to end a long-running probe […]
LawyersandSettlements.com
Beverly Hills, CA: A 2015 report produced by True Link Financial estimates that the amount lost by senior citizens through financial elder abuse in the US is at a staggering $36.48 billion annually. That number surges well past a previous MetLife Institute report in 2011 that estimated the amount to be $2.9 billion. True Link […]
InvestmentNews
A Wells Fargo Advisors client has asked arbitrators to recover money he says he lost investing with F-Squared Investments Inc., his lawyer said Wednesday, testing whether investors can challenge brokerage firms who sold the troubled asset manager’s products. F-Squared agreed in December to pay $35 million to settle charges it made false claims about the […]