Regulatory & Compliance (283)
FA Who Ripped Off Parents, Others for $2.6M Headed to Jail
- Friday, 28 May 2021
- Regulatory & Compliance
- Written by PFA News
Edward Matthes, 51, is going to federal prison for scheming 27 victims, including his parents, out of a $2.6 million. He was a broker with Mutual of Omaha Investor Services Inc. So reports the Milwaukee Journal Sentinel.
Read more...Gary Gensler Gets Senate Approval to Head SEC
- Sunday, 18 April 2021
- Regulatory & Compliance
- Written by PFA News
The Senate voted 53-46 to approve Gary Gensler, Joe Biden’s pick to lead the Securities and Exchange Commission. So reads CNBC.
Read more...Kansas City FA Accused of Ripping Off Pro Athletes
- Friday, 02 April 2021
- Regulatory & Compliance
- Written by PFA News
Douglad E. Elstun, a Kansas City area financial adviser, is accused of overcharging clients and pushing them into risky investments that resulted in heavy losses. So reports The Kansas City Star.
Read more...What to Expect from Gary Gensler, Biden’s Pick for SEC Chair
- Friday, 15 January 2021
- Regulatory & Compliance
- Written by PFA News
Biden’s pick to run the Securities and Exchange Commission (SEC), Gary Gensler, has some on Wall Street worried about a tougher regulatory environment. So reports Reuters.
Read more...Another FA Sent to Jail for Scamming Pro Athletes
- Thursday, 26 November 2020
- Regulatory & Compliance
- Written by PFA News
Former financial advisor Ash Narayan, 55, was sentenced to 37 months in federal prison for scamming several professional athletes, including ex-NFL quarterback Mark Sanchez, and MLB pitchers Jake Peavy and Roy Oswalt. So reports the Los Angeles Times.
Read more...What Does Joe Biden Win Mean for Advisors?
- Monday, 16 November 2020
- Regulatory & Compliance
- Written by PFA News
Experts and observers say that the victory of Joe Biden likely means retooled regulations, new retirement plan rules and possibly higher taxes for wealthy Americans. So reports Financial Planning.
Read more...Former FA Gets 6 Years in Jail in Historical Chinese Bond Scheme
- Monday, 16 November 2020
- Regulatory & Compliance
- Written by PFA News
Gregory Alan Smith, 58, and formerly a financial advisor in Shreveport, La, was sentenced to 72 months in prison for conspiracy to commit wire fraud. So reports the Shreveport Times.
Read more...Ex-advisor Sentenced to 17 Years in Jail for Swindling NHL Stars
- Monday, 16 November 2020
- Regulatory & Compliance
- Written by PFA News
Phillip Kenner, a former financial advisor from Boston, has been sentenced to 17 years in jail for defrauding several NHL stars, including Michael Peca, Darryl Sydor, Bill Ranford, Bryan Berard, and Sergei Gonchar. So reports Wealth Professional.
Read more...Morgan Stanley to Pay $60M for Data Protection Miscue
- Monday, 19 October 2020
- Regulatory & Compliance
- Written by PFA News
Morgan Stanley has agreed to pay $60 million to settle claims that the bank failed to properly safeguard customer information when it decommissioned two wealth management data centers. So reports Compliance Week.
Read more...Mass. Advisor Guilty of Stealing $4M from Clients
- Friday, 02 October 2020
- Regulatory & Compliance
- Written by PFA News
Gerald Eaton, a Massachusetts-based investment advisor and financial planner working for Heritage Financial Group pleaded guilty to stealing in excess of $3.7 million. So reports Patch.
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