Insights
March 6, 2017
New York prosecutors claim Herschel Knippa, a former broker who pitched “worthless” stock to investors and television viewers, is looking at prison time for participating in a $131 million...
March 2, 2017
Craig David Dima, an ex-registered representative with K.C. Ward Financial in Ronkonkoma, New York, was barred from the securities industry by FINRA for making unauthorized and unsuitable trades amoun...
March 1, 2017
It is a common misconception that securities fraud is strictly handled in criminal courts. There are also civil remedies for investors who have been defrauded out of their money, or whose brokers or a...
February 8, 2017
One of the most common claims our attorneys bring on behalf of clients is failure to supervise. Brokerages are responsible for the majority of their employees’ actions. When a broker or advisor is neg...
February 1, 2017
Robert Cook, CEO of FINRA, embarked on a “listening tour” late last year. He spent months meeting with regulators, policymakers, investors and brokers (among others) to discover their primary concerns...
January 31, 2017
Citigroup will pay $18.3 million to settle charges made by the SEC claiming that it overcharged its investment advisory clients. According to the SEC, Citigroup overbilled about 60,000 advisory client...
January 17, 2017
Whether you are just beginning to build an investment portfolio, or have been investing for years, chances are you will need the guidance of a finance professional to ensure that your investments are ...
January 13, 2017
The SEC announced today that Morgan Stanley agreed to pay a $13 million fine to resolve allegations that it overbilled investment advisory clients due to coding and other billing system errors. Morgan...
January 2, 2017
Referring to several conflicts of interest regarding how the firm paid brokers selling annuities, FINRA announced that it fined Valic Financial Advisors Inc. $1.75 million. FINRA found that VFA “...
January 2, 2017
VFG Securities Inc., a small broker-dealer, and its owner, Jason Vanclef, reached a settlement agreement with FINRA regarding allegations that he and the firm had customers overly concentrated in illi...
December 30, 2016
Former financial adviser Ash Narayan agreed to be barred from associating with brokerage or advisory firms to settle regulators’ allegations that he secretly received nearly $2 million from comp...
December 29, 2016
UBS Financial Services Inc. fired Phil Fiore Jr., one of its top brokers based in Stamford, Connecticut, for failing to keep the firm informed of outside business activities, even while he was under h...
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