Dusty Sternadel pleaded guilty to wire fraud in January in connection with a scheme that stole from at least 10 clients, most of whom were elderly, according to the DOJ.
The brokerage regulator argued the firm’s automated process for approving options traders on its self-directed platform missed instances where clients submitted applications with conflicting information.
Advocates say RIAs have little to worry about, yet one opponent accused the DOL of waging an “ideological crusade” and said he’d recommend litigation to his board.
The rule, which takes effect in September, “protects the retirement investors from improper investment recommendations and harmful conflicts of interest,” according to Acting Labor Secretary Julie Su.
Mary Kate Gulick claimed to be psychologically 'broken like a twig' from Carson’s lack of response to allegations an employee sexually assaulted a conference attendee, according to a lawsuit filed in Nebraska federal...
Clayton Ortloff, an advisor out of Midland, Texas, will join the independent broker/dealer’s model for advisors looking for more autonomy while buttressed by back office support.
The RIA said it was acquiring the two San Francisco-based teams. This follows last week’s announcements that multi-billion-dollar former First Republic teams had joined Merrill Lynch and Citizens Bank.
