This Week’s Top Stories: Morgan Stanley Sues RBC Team, Finra Raps Broker over A-Shares, and More

1. 1. Morgan Stanley Sues $6 Million Team at RBC over Client Calls
      New Jersey advisors “flagrantly” violated their employment agreements by calling former clients and using confidential information, wirehouse says in new lawsuit.

   2. Finra Fines, Supends Ex-Ameriprise Broker Who Flipped ‘A’ Shares
      Ohio broker allegedly earned $450,000 from unsuitable short-term trading in Class A mutual fund shares.

   3. Wells Fargo Claws Back $3 Million from Jailed Ex-Broker
      Wells had sought to hold the broker responsible for reimbursements it made to clients after the broker allegedly stole more than $1.1 million.

   4. Rockefeller, RBC Lure Merrill, UBS Teams in Midwest
      Rockefeller hires its second Merrill team in Chicago while RBC recruits two teams with $900 million combined from the same UBS branch in Nebraska.
      
   5. Edward Jones Profit Jumped 18% in 2020, Broker Count Fell in Q4
      Biggest brokerage firm by number of advisors says its force fell by more than 100 in fourth quarter, but 2020 revenue and profit grew due to rising markets and expense cuts.