Posts belonging to Category Regulatory Developments
Posted by Page PerryonNovember 21, 2012
William D. Cohan, who worked on Wall Street as a senior mergers and acquisitions banker for 15 years, has a theory on why no Wall senior executives have been sued by regulators or prosecuted for their roles in the waves of fraud and malfeasance we have witnessed in the last decade. The senior executives blame […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Financial Industry Whistleblowers, Investment Advisers, Investor Alerts, Regulatory Developments, SEC Whistleblowers, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonNovember 20, 2012
The SEC has busted operators of a prime bank fraud (a type of ponzi scheme) that took in $15 million from at least 220 investors in more than 20 states, primarily Georgia. The operators were Billy W. McClintock, a Florida resident, Dianne Alexander aka Linda Dianne Alexander, a California resident (formerly of Georgia), two entities […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Elder Abuses, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Promissory Notes, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonNovember 19, 2012
The SEC has settled two mortgage-backed securities actions against J. P. Morgan Chase and Credit Suisse for over $400 million. The enforcement actions arose out more than $1 billion in losses by investors during the financial crisis. Critics say that the settlements are just a cost of doing business and will not deter similar Wall […]
Categories: Alternative Investments, Asset Backed Securities, Brokerage Firms, Common Securities Broker Abuses, Credit Suisse, Fairness/Just & Equitable Conduct, Investigations, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Misrepresentation/Omission, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonNovember 15, 2012
The Securities and Exchange Commission has ramped up enforcement actions against investment advisors, broker-dealers and senior executives over the past two years, the agency said in a statement. SEC Chairman Mary Shapiro attributed the increased activity in part to a reorganization that includes special units staffed by experts in the complex financial products and transactions […]
Categories: Brokerage Firms, Closed End Funds, Common Securities Broker Abuses, Investment Advisers, Investment Malpractice, Investor Alerts, Money Market Funds, Mutual Funds, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonNovember 13, 2012
The organization of state securities regulators (NASAA) has published a sharply critical comment letter in response to the SEC’s proposed regulations implementing the Jump Start Our Economy (JOBS) Act. Among other things, the Act eliminates the prohibition against general solicitation of investors for certain private offerings. NASAA basically accused the SEC of total abdication of […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Crowd Funding, Investment Advisers, Private Investments/Reg D, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonNovember 5, 2012
The Financial Industry Regulatory Authority (FINRA) says it will open its arbitration forum to disputes involving investment advisers that are not broker-dealers or registered representatives of broker-dealers. FINRA arbitrations are now limited to cases involving a broker-dealer or registered representative. These cases include both intra-industry disputes and cases involving customers.
Categories: Investment Advisers, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonOctober 22, 2012
The SEC has charged a New Jersey-based hedge fund, Yorkville Advisors LLC, and officers with fraudulently overvaluing illiquid investments in order to attract investors to their hedge fund. Attracting more investors increases hedge fund fees, which are based on a percentage of the amount of money the fund manages. The charges are part of a […]
Categories: Alternative Investments, Brokerage Firms, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, Hedge Funds, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonOctober 18, 2012
Nearly all (96%) of Wall Street senior executives at financial services firms believe that the public’s negative perception of their firms was invited by the firms’ actions. That is the conclusion of a recent survey of senior executives at large and mid-size financial services firms (the Makovsky Wall Street Reputation Study). The survey respondents included […]
Categories: Brokerage Firms, Investment Advisers, Investor Alerts, Market Developments, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonOctober 15, 2012
Investors beware – advisers who make up or inflate their credentials are committing fraud upon their clients. This is often the first step leading to the devastating losses to investors we read about almost every day. Overburdened and underfunded though they are, the SEC announced that it will take action to combat this growing problem.
Categories: Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Employment Issues, Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonOctober 11, 2012
Variable annuities have long been criticized as one of the worst investment choices ever. Complicated, costly, and Illiquid by virtue of surrender penalties, variable annuities offer investors less benefit than traditional investments that can bought without the expensive insurance company wrapper, according to many experts.
Categories: Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Fairness/Just & Equitable Conduct, Insurance Products, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Unsuitable Recommendations, Variable Annuities and Equity-Indexed Annuities
