This Week’s Prime 5: Schwab Sued Over Robo Money Sweeps, Trump’s Former Banker Suspended, And Extra

1. Schwab Hit With Class Motion Declare Over Robo Money Sweeps
   Proposed class motion claims Schwab earned a whole bunch of thousands and thousands from “unwarranted and unfair” money sweeps whereas prospects missed out on half-a-billion in market returns since Clever Portfolios’ 2015 roll-out.
   
2. Finra Suspends Trump’s Former Private Banker
   Rosemary Vrablic was sidelined in August and faces an trade bar for refusing to answer the regulator’s request for data.
   
3. Stifel Hires $3.85-Mln UBS Group in FL, $1.2-Mln Merrill Group in PA
   4-advisor UBS staff managing $470 million joined in Ft. Myers, whereas a father-daughter staff overseeing $138 million shifted from Merrill in Pennsylvania.
   
4. UBS Ordered to Pay Houston Investor $358Ok in ‘YES’ CaseThe award is the primary in a Yield Enhancement Technique case the place the claimants received the total quantity damages that they had requested, their lawyer mentioned.
5. Ex-Merrill Celebrity Phil Scott Swings and Misses with Expungement Requests
   The 36-year trade veteran was unsuccessful in his bid to clear his report of three monetary crisis-era disputes that had settled for about $Three million mixed.

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