The Securities and Exchange Commission has frozen the assets of investment advisor Ash Narayan, who is accused of swindling $30 million from Denver Broncos quarterback Mark Sanchez, San Francisco Giants Pitcher Jake Peavy, and Colorado Rockies pitcher Roy Oswalt. So reports Complex.
A group of industry organizations has filed litigation seeking to kill the Department of Labor’s fiduciary rule after efforts by the House of Representatives last month fell short of accomplishing the same goal. So reports CNBC.
Prudential Annuities Distributors has been fined $950,000 after missing numerous “red flags” that pointed to an LPL advisors’ theft of a client’s assets. The theft involved forging 114 wire requests. So reports Financial Planning.
Financial advisors often promote their services by saying that they can help remove emotions from investing.