Mitchel Guttenberg, 41, an institutional client manager at UBS Securities, was charged with passing material--nonpublic information--to traders Erik Franklin, 39, formerly of Bear Stearns, and David Tavdy, 38, formerly of Assent, a New York broker-dealer.
Worse, lawsuits have raised disturbing questions about New Life, and the way it pays planners a commission on client donations may violate federal securities laws.