The Securities and Exchange Commission had another record year when it comes to prosecuting investment fraud. The agency filed 734 enforcement actions in the fiscal year that ended Sept. 30, 2012, one shy of last year’s record…more
The Financial Industry Regulatory Authority has threatened to suspend Morgan Keegan & Co.’s brokerage license over its failure to comply with an arbitration ruling in favor of former NBA star Horace Grant.
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The Financial Industry Regulatory Authority (FINRA) has released additional reimbursement information for investors defrauded by David Lerner Associates. The latest reimbursement update concerns customers who purchased Apple…more
The Financial Industry Regulatory Authority has charged Roman Sledziejowski, President and owner of Brooklyn, NY-based brokerage firm TWS Financial, LLC, with securities fraud involving more than $4 million. Sledziejowski…more
The Securities and Exchange Commission recently issued an updated Investor Alert about fraudulent solicitations that purport to be affiliated with or sponsored by the SEC and its staff. This ongoing scam uses the guise of an…more
Churning continues to cause big problems for investors. In the most recent case, three former brokers at an Atlanta-based brokerage firm were charged by the Securities and Exchange Commission for “churning” the accounts of…more
Investors should always be wary of investment claims that seem to good to be true. The Securities and Exchange Commission recently charged an asset manager who boasted remarkable profits even in the face of the Bernie Madoff…more
The Securities and Exchange Commission recently released an Investor Bulletin on lost and stolen securities. It also explained how the agency’s Lost and Stolen Securities Program (LSSP) can be used to help deter fraud.
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The North American Securities Administrators Association (NASAA) recently revealed its annual list of financial products and practices that pose the highest risks to investors. The list includes several new threats as well as…more
As we mentioned yesterday, the North American Securities Administrators Association (NASAA) recently listed crowdfunding and Internet offers as the top threat to unwary investors. These risks topped the list in response to the…more
The Securities and Exchange Commission is pursuing securities fraud charges against a former Michigan broker for allegedly misappropriating an estimated $300,000 from his brokerage customers. Lewis J. Hunter used the funds to…more
A former employee of Morgan Stanley Smith Barney LLC has filed a lawsuit claiming that he was terminated after blowing the whistle on questionable activities by an investment adviser. According to the lawsuit, the adviser was…more
Americans strongly support stronger oversight of Wall Street, including brokers and advisers, in the wake of the financial crisis, according to a new survey commissioned by AARP. Three out of four U.S. voters strongly support…more
JP Morgan is facing its first investor lawsuit involving allegations that the brokerage firm pushed investors into more expensive and less successful in-house funds in order to boost the company’s profits. The lawsuit, filed in…more
As we have discussed on this blog, many defrauded investors elect to resolve disputes through the Financial Industry Regulatory Authority’s arbitration system. Now, investors will have another option for cases involving claims…more
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