News Coverage

InvestmentNews’ revelation that independent broker-dealer LPL Financial terminated James Bashaw for “selling away” marks the second high-profile brokerage firing for similar infractions in a few weeks. But the latest case doesn’t shed light on why this infraction, by some accounts tolerated in the past, is now a firing offense — especially when other business models don’t even consider it an infraction.
According to Bashaw’s Finra CRD...

For years the world’s biggest asset managers have tried everything to slow Vanguard’s meteoric rise. Now a startling lawsuit, dismissed by some legal experts but credited by others, is accusing the low-cost investment company of building its empire on nothing less than systematic tax evasion.
The suit, filed in New York by David Danon, a tax lawyer whom Vanguard fired last year, targets Vanguard’s singular, all-important mutual ownership structure. In this model, the...