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Ex-Wells advisors' suit describes pressure to 'cross-sell' bank products
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A pair of ex-Wells Fargo advisors allege in a new lawsuit they had been required by their former managers to collect personal information from clients who might be good candidates for the sale of bank products.
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SEC spanks Wells Fargo Advisors with $35M penalty for excessive fees
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The Securities and Exchange Commission Friday penalized Wells Fargo Advisors $35 million for overcharging advisory fees to certain clients who opened accounts prior to 2014 through the end of December 2022.
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SEC bars another advisor involved in church scam
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Scams involving members of a group such as a church, known as affinity frauds, pose perils for investors, one attorney notes.
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IRS Warns of Schemes Aimed at Wealthy Taxpayers
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Highlights include CRATs and monetized installment sales.
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Finra spanks Morgan Stanley over sales of high-risk stocks
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The Finra penalty included a fine of $200,000 and restitution to clients of $498,000 plus interest.
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The fraud that goes unnoticed
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Why a group of researchers thinks that, on average, 10 percent of public companies commit securities fraud each year.
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Here's why people on Wall Street cheat over and over again
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Wells Fargo: Under intense pressure to meet performance targets from above, thousands of them opened fake accounts for clients
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Morgan Stanley hit with $5 million penalty for misleading clients in wrap account program
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The SEC charged the wirehouse with not fully disclosing fees for five years
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15 Scams Targeting Seniors
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Seniors tend to own their homes and have strong credit and ample savings, according to the FBI. They’re also less likely to report fraud and tend to be less familiar with technology.
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Whistleblower, after retaliation by JPMorgan, pays FINRA price, too
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Thanks to a settlement this week, FINRA has punished just one known individual associated with a 2015 product-pushing case in which JPMorgan admitted it breached its fiduciary duty to clients nationwide: a whistleblower.
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