Galen Marsh, who as a Morgan Stanley advisor downloaded client data to his home computer without permission, has been sentenced to three years of probation and ordered to pay $600,000 in restitution. So reports JD Supra Business Advisor.
Podcasts covering Freakonomics, millennials’ investment perspectives, executive coaching, trending market topics, and noted financial planner Ric Edelman’s views on money management are among the top 10 web-based broadcasts for financial advisors.
Despite occasional articles about advisors stealing from clients, only 2% of individual advisors have reported criminal charges such as felony convictions or investment related misdemeanors, according to an analysis of industry data by Big Crunch. So reports CNBC.
A criminal hacked into an investor’s email account and used the electronic communication to direct a Pioneer Bank broker in Troy, N.Y. to move the person’s money into the criminal’s account, resulting in the broker losing his license. So reports the Times Union.