Investors have filed a lawsuit against U.S. mutual fund LJM Preservation and Growth Fund, an $800-million fund that lost four-fifths of its value and shuttered earlier this year. LJM relied heavily on a strategy that bet on low or falling...
The U.S. Securities and Exchange Commission has filed lawsuits against two brokers affiliated with Meyers Associates LP for fraudulent, excessive, high-frequency trading. The two brokers pocketed more than $4.6 million combined through their...
The Financial Industry Regulatory Authority has barred former Wells Fargo broker J. Gordon Cloutier Jr., who was fired for allegedly asking a client for a loan and attempting to make an unauthorized trade. In the brokerage industry, borrowing...
The Financial Industry Regulatory Authority Inc. has fined brokerage firm Securities America for failing to supervise its brokers’ sales of a type of short-term variable annuity product that could have resulted in investors’ purchases of...
Former Ameriprise broker Jeffery Joseph Kelly has been sanctioned by the Financial Industry Regulatory Authority for failing to cooperate with an investigation by the regulator into allegations of unethical conduct. Kelly was terminated by...
Brokerage Firm Massachusetts Financial Services has agreed to pay over $1.9 million to settle allegations by the U.S. Securities and Exchange Commission (SEC) for misstatements made in advertisements that insinuated high returns relating to...
