Insights
October 19, 2015
Labor Secretary Thomas Perez backed a proposal to increase investment advice standards for retirement accounts by arguing that studies showing the need for such a rule are more reliable than those fun...
October 19, 2015
Both advisers and insurers believe that variable annuities with guaranteed benefit riders are the most complicated annuity products. Certain aspects of these annuity contracts can lead to misconceptio...
October 16, 2015
Jodene Beaver has spent the majority of her 56 years dealing with physical and mental impairments. She is able to live on her own with the help of her family who cares for her and work as a grocery-st...
October 15, 2015
Voya Financial Advisors Inc., Transamerica Financial Advisors Inc. and four other independent broker-dealers failed to give clients appropriate discounts on large sales of nontraded real estate invest...
October 14, 2015
Fiat Chrysler Automobiles N.V. is being investigated for allegedly violating specific sections of the Securities Exchange Act of 1934 by issuing materially misleading information to the investing publ...
October 13, 2015
FINRA mandated that Santander Securities LLC pay about $4.3 million in restitution to a number of clients who were solicited to buy Puerto Rican Municipal Bonds. Further, the firm will pay restitution...
October 8, 2015
FINRA expelled New York-based Halcyon Cabot Partners, Ltd., and barred Chief Executive Officer Michael Morris and Chief Compliance Officer Ronald Heineman from the securities industry, for fraud, sale...
October 7, 2015
Richard James Tucker of Mobile, Alabama was arrested last week by Baldwin County, Alabama Sheriff’s Department deputies for alleged violations of the Alabama Securities Act. The arrest was subse...
October 5, 2015
The fight over a Department of Labor proposal to increase investment advice standards for retirement accounts have begun to intensify. Over the last week, the writer of a bill that would prohibit the ...
October 1, 2015
FINRA censured and fined UBS Financial Services Incorporated of Puerto Rico $7.5 million for supervisory failures pertaining to the suitability of transactions in Puerto Rican closed-end funds (“...
September 30, 2015
Vincent P. Falci, a former New Jersey fire chief, his wife, his son, and the companies he started have been ordered to repay $6.7 million they bilked from investors. Fallacy and his companies made fal...
September 29, 2015
U.S. marshals arrested John Natale Michelotti of Clemmons, North Carolina for a fraud that bilked victims of over $200,000. Michelotti is charged with obtaining property by false pretense and two coun...
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