Insights
July 21, 2015
A Miami broker defrauded investors by siphoning money from retirees’ investments through a Ponzi scheme. The SEC alleges the adviser conducted a Ponzi scheme with money he raised for the Sterling Inve...
July 20, 2015
Whistleblower Gets Award In the SEC’s first retaliation case, a whistleblower will be awarded 30 percent of the amount collected by the SEC during the charge. The SEC recently established a whistleblo...
July 17, 2015
The SEC filed a complaint in the U.S. District Court in San Francisco alleging that Andrew Evans, a Canadian trader at his firm, Maritime Asset Management, illegally shorted U.S. stocks from December ...
July 17, 2015
The SEC’s Office of Investor Education and Advocacy cautions investors to research the credentials of financial professionals before trusting that person with investment money. This precautionary inve...
July 16, 2015
On June 18, 2015, the SEC charged an oil company and its CEO for lying to investors about oil reserve estimates and future drilling plans. Glen Landry, the CEO of Norstra Energy, published to Norstra’...
July 6, 2015
On July 2, 2015, the SEC froze a fraudulent venture headed by DFRF Enterprises, its leader, and six promoters. The SEC alleges that DFRF Enterprises operated a Ponzi scheme by promoting and selling me...
May 22, 2015
The SEC filed fraud charges against an Atlanta-based investment firm and two of its executives for their handling of the city’s pension funds for police, firefighters, transit workers, and other...
May 21, 2015
Nationwide Insurance Fined $8M for Violations Nationwide Life Insurance Company will pay $8 million to settle charges filed by the SEC alleging that the insurance giant consistently violated pricing r...
May 14, 2015
UBS Loses Arbitration and Ordered to Pay $200K UBS lost an arbitration case this week pertaining to the offer and sale of a number of Puerto Rico Fixed Income and Bond funds. The Claimant in the arbit...
May 13, 2015
FINRA ordered LPL Financial to pay $11.7 million in fines and restitution for what it called “widespread supervisory failures” pertaining to sales of complex products. According to the reg...
May 12, 2015
Financial Industry Regulatory Authority Investigating National Securities Broker FINRA has filed a complaint against broker Vito Balsamo alleging that Balsamo was “selling away” ownership ...
May 11, 2015
The Alabama Securities Commission intercepted $16,000 worth of redeemed stock owned by Harry H. “Woody” Duncan from Huntsville, Alabama and successfully rerouted the cash to assist in the ...
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