Commonwealth Financial Network Ordered To Pay $93.3M Over Mutual Fund Revenue Sharing SEC Alleged Breach of Fiduciary Duty When Firm Recommended Mutual Fund Shares That Paid It Fees Earlier this year, Commonwealth Financial Network was ordered to pay $93.3M in a breach of fiduciary duty lawsuit filed by the US Securities…
Did You Suffer Mutual Fund Losses While Working With Suspended Florida Broker John Wigmore Reilly III? Ex-Securities Research Financial Advisor Accused of Best Interest Violations Shepherd Smith Edwards and Kantas Mutual Fund Switching Loss Attorneys (investorlawyers.com) are offering free, no obligation case assessments to customers of former stockbroker John Reilly III.…
Our Closed-End Mutual Fund Investment Loss Attorneys Work With Retail Investors, Retirees and Others Priority Income Fund Investors Are Wondering What To Do After Liquidity Strategy Changes While many investors generally think of mutual funds as safe, low-risk investments, that is not always the case. Now, in the wake of…
Brokerage Firms Sold Infinity Q Diversified Alpha Fund and Volatility Alpha Fund to Investors The US Securities and Exchange Commission (SEC) has filed civil charges against James Velissaris, the founder and ex-chief investment officer of Infinity Q Capital Management. According to the regulator, Velissaris allegedly overvalued assets by over $1B…
FINRA Suspends Cincinnati, Ohio Financial Advisor The Financial Industry Regulatory Authority (FINRA) has suspended former Ameriprise (AMP) stockbroker, Angel W. Bardeche, for nine months over allegations that she engaged in unsuitable mutual fund switches over a two-year period that earned her $450K in commissions. The self-regulatory organization (SRO) also contends…
Proprietary, Non-Traded Oil, Gas and Energy Investments Plunged In Value If your David Lerner Associates broker recommended and sold you any of the firm’s proprietary non-traded oil and gas investments and you sustained significant losses, you may have grounds for an investor fraud claim for damages. The privately-held broker-dealer exclusively…
Market Volatility Forces Arbitrage Funds to Temporarily Close Reports of arbitrage funds temporarily shuttering in the wake of the impact of the novel coronavirus (COVID-19) on the markets has caused concern for investors. At Shepherd Smith Edwards and Kantas (SSEK Law Firm), our investment fraud lawyers are offering free case…
Summit Investment Management To Pay Investor $100K A Financial Industry Regulatory Authority (FINRA) panel said that Summit Investment Management and portfolio manager, Thomas Carroll, must pay one firm client $100K for investing his money in funds from the investment manager, LJM Partners, which is no longer in operation. The LJM…
The US Securities and Exchange Commission (SEC) has filed civil charges accusing Cetera Advisors of defrauding its retail clients through $10M in unnecessary commissions and fees. The regulator is accusing the registered investment adviser (RIA) of selling these customers costlier share classes even though they qualified to invest in less…
The US Securities and Exchange Commission (SEC) is accusing Commonwealth Equity Services, also known as Commonwealth Financial Network, of not notifying clients that it had material conflicts of interest involving certain investments. This purportedly allowed the investment adviser and brokerage firm to earn more than $100M in revenue sharing involving…