Insights
May 23, 2014
A Manhattan federal judge recently sentenced Michael Steinberg to 3.5 years in prison, three years of supervised released, the payment of a $2 million fine, and the forfeiture of over $365,000 for ins...
May 22, 2014
The SEC issued an investor alert warning potential investors of possible scams pertaining to marijuana-related investments, pointing out that fraudsters will often use the latest growth industries to ...
May 21, 2014
Bitcoin is in the news again as the SEC issued an Investor Alert earlier this month in order to warn potential investors of the risks of investing in Bitcoin and other types of virtual currencies. The...
May 20, 2014
FINRA announced recently that it fined Morgan Stanley Smith Barney LLC $5 million for supervisory failures pertaining to the solicitation of retail customers to invest in IPOs, such as Facebook and Ye...
May 16, 2014
FINRA announced recently that the SEC has approved a rule change designed to limit self-trading. FINRA Rule 5210 will require firms to have policies and procedures implemented that are reasonably desi...
May 14, 2014
This week a jury found that the Wyly brothers, Samuel and Charles, utilized a network of offshore trusts to illegally conceal their stock holdings and avoid trade limitations, meaning that Samuel and ...
May 7, 2014
A couple from Long Island who lost over $5 million in a scheme perpetrated by Mark C. Hotton, at stock broker who worked for Oppenheimer and Company. Mr. Hotton became infamous after he defrauded prod...
May 6, 2014
A couple in Wichita have been left wondering who the industry funded Financial Industry Regulatory Authority (FINRA) was really set up to protect after 2 of the arbitrators placed on list for their ca...
April 30, 2014
Reef Oil & Gas Income and Development Fund III, L.P. is currently under investigation for selling speculative oil and gas investments along with a variety of other risky and unsuitable limited par...
April 28, 2014
ICON Leasing Funds are currently being investigated as broker-dealers may have sold funds without performing adequate due diligence when recommending them to clients. The funds engaged in the acquisit...
April 25, 2014
The SEC won a freeze on John Babikian’s assets this week. Babikian is a Bugatti-driving 26 year-old from Montreal who operated a “pump-and-dump” scheme using penny-stock websites. He...
April 24, 2014
Bitcoin exchanges may soon be coming to the Empire State, but such exchanges will be subject to strict regulation. The New York State Department of Financial Services (NYSDFS) stated that it will weig...
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