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SEC Accuses Upright Financial and Founder of Breaching Prior Settlement and Misleading Investors

April 24th, 2025 at 2:14 PM
According to InvestmentNews, the Securities and Exchange Commission (“SEC”) has charged registered investment advisor Upright Financial Corp. and its founder, David Yow Shang Chiueh, for violating a prior settlement agreement and continuing a pattern of misconduct that allegedly defrauded investors and breached fiduciary duties.
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Ex-Merrill Lynch Advisor to Appeal Ruling Dismissing ERISA Class Action

April 23rd, 2025 at 11:52 AM
A former Merrill Lynch advisor plans to challenge a federal judge’s ruling that dismissed his proposed class action against the firm when it forfeited his deferred compensation.
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FINRA Proposes Accelerated Arbitration for Ill Parties and Elderly

April 22nd, 2025 at 12:07 PM
The Financial Industry Regulatory Authority (“FINRA”) has submitted a proposed rule change to the SEC aimed at speeding up arbitration proceedings for parties who are elderly or suffering from serious health conditions.
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Former Morgan Stanley Advisor Sentenced to 12 Years in Prison for Multimillion-Dollar Fraud

April 21st, 2025 at 11:14 AM
Jesus Rodriguez de la Cruz, a former Morgan Stanley advisor, has been sentenced to 12 years in federal prison for orchestrating a complex fraud scheme that misappropriated millions from clients and the firm itself, AdvisorHub reports.
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Robinhood Markets Faces Scrutiny in Massachusetts Investigation

April 18th, 2025 at 2:03 PM
Massachusetts Secretary of State Bill Galvin has issued a subpoena to Robinhood Markets Inc., seeking information on the firm’s prediction-markets business and its potential links to gambling.
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SEC Charges Hedge Fund Founder with Fraud in $4 Million Scheme

April 17th, 2025 at 1:59 PM
The Securities and Exchange Commission (SEC) has charged Alan Burak, founder of Never Alone Capital LLC, with orchestrating a fraudulent investment scheme that raised approximately $4 million from investors.
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GWG Bondholders Offered Settlement Worth Just Cents on the Dollar

April 16th, 2025 at 11:44 AM
Distressed investors who purchased $1.6 billion in GWG L bonds may soon receive a small fraction of their original investment under a proposed settlement.
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Stifel Ordered to Pay $133 Million in FINRA Arbitration

April 15th, 2025 at 1:38 PM
Stifel Financial’s retail broker-dealer must pay nearly $133 million in damages following a FINRA arbitration tied to Miami-based advisors' structured note strategy.
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Former UBS Advisors Sue Firm Over Unpaid Wages and Business Expense Deductions

April 14th, 2025 at 12:52 PM
Two former UBS financial advisors have filed a class action lawsuit accusing UBS of failing to reimburse necessary business expenses, unlawfully deducting costs from wages, and delaying payments to employees who quit or were terminated.
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FINRA Bars Advisor for Raising $11 Million in Unapproved Private Investments

April 11th, 2025 at 1:00 PM
The Financial Industry Regulatory Authority (FINRA) has barred a 21-year industry veteran for engaging in unapproved private securities transactions totaling $11 million.
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LATEST NEWS AND ARTICLES

May 8, 2025
All 50 States Now Aligned on Annuity Sales Standards

The annuity industry officially has secured uniformity in sales regulations across all 50 states.

May 7, 2025
Jury Finds Investment Advisor Liable for Failing to Disclose Annuity Commissions

A federal jury in Massachusetts has found investment adviser Jeffrey Cutter and his firm, Cutter Financial Group, liable for violating federal securities law by failing to disclose significant upfront commissions and conflicts of interest related to an annuity replacement scheme.

May 6, 2025
SEC Charges Three Individuals in $284 Million Arizona Sports Complex Bond Fraud by Legacy Cares

The Securities and Exchange Commission has filed a civil enforcement action against Randall “Randy” Miller, Chad Miller, and Jeffrey De Laveaga for allegedly defrauding investors in two municipal bond offerings that raised $284 million.