FINRA’s National Fraud and Financial Crimes Detection Programs has sent 50 cases to the SEC involving potential fraud by public companies related to COVID-19. So reports Think Advisor.
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Since the turmoil that seized the banking sector with the mid-March failure of Silicon Valley Bank, at least 21 advisors have left First Republic Bank, with 13 heading to Morgan Stanley. So reports AdvisorHub.
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Private equity group Reverence Capital Partners is courting suitors for a minority stake in wealth…
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The NFL Players Association has approved UBS to work with current and former players through…
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In early November, the U.S. Supreme Court will hear arguments on behalf of Denise Badgerow, a Louisiana financial advisor. Badgerow wants to have a state court vacate a FINRA arbitration ruling instead of following a federal court’s decision to confirm the regulator’s award. So reports Advisor Hub.
If Badgerow wins, brokerages and other firms may look at arbitration as risky.
“This decision by the Supreme Court will determine whether a federal court has jurisdiction over a motion to vacate,” said Brady Hermann, a lawyer who is not involved in the case but often represents brokerages. “Brokerages are going to want to be in federal court.”
Read the full article from Advisor Hub.
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