A former broker in Bellevue, Washington broker has been sentenced to four-and-a-half years in prison in connection with an elaborate securities fraud. Richard A. Finger Jr., 32, pleaded guilty in November to churning customers’…more
The Financial Industry Regulatory Authority will bring enforcement cases against several brokerages for selling exchange-traded funds that were unsuitable for their customers, according to regulator. As we discussed in a prior…more
A former securities lawyer on the wrong side of the law was recently sentenced to 23 years in prison for his role in a massive fraud scheme that victimized about 200 investors in 21 states, including several Baptist churches…more
FINRA recently announced that it has fined Citi International Financial Services LLC, a subsidiary of Citigroup, Inc., $600,000 for charging excessive markups and markdowns on corporate and agency bond transactions. FINRA also…more
A former LPL Financial LLC broker has been sentenced to more than three years in prison and ordered to pay $1.8 million in client restitution. Elliot Kravitz pleaded guilty to wire fraud last May after it was discovered that he…more
In his remarks before the American retirement Summit, SEC Commissioner Luis A. Aguilar discussed the growing prevalence of elder financial abuse. As we have highlighted on this blog, elder abuse is projected to skyrocket as the…more
The Securities and Exchange Commission has charged a Las Vegas company and its CEO with conducting a fraudulent pump-and-dump scheme. It also charged several consultants for their illegal sales of company shares into the…more
If you are thinking about opening a new brokerage account, there are a few decisions you will need to make. One of the most important is what type of brokerage account you want to open.
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According to the Securities and Exchange Commission, more Americans are investing in foreign companies than ever before. While international investing does have certain advantages, investors should be sure that they understand…more
The Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and the National Football League (NFL) have announced that they are working together to teach incoming NFL players how to spot and avoid…more
While the National Do Not Call Registry has certainly reduced the number of sales calls investors receive, cold-calling is still a commonly used practice among securities firms. Therefore, it is important to know how to spot a…more
While Consumer Reports’ online readers report that they are “very satisfied” with nearly all of the nation’s 13 major brokerages, that might not mean they are actually doing a good job. In fact, undercover researchers found…more
As we have been discussing this week, social media is the new hotspot for investment fraud. To further highlight the risks, we bring you the story of an Illinois man who used LinkedIn to prey on unsuspecting investors.
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The Financial Industry Regulatory Authority (FINRA) Investor Education Foundation recently released a new investor alert entitled Weathering Tough Economic Times—12 Tips for 2012. As detailed by FINRA, the tips are designed to…more
The Financial Industry Regulatory Authority is considering a new rule that would empower it to use court proceedings to collect restitution payments ordered in disciplinary cases against brokerages and brokers. The rule would…more
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