FINRA Fines Five Firms for Failure to Waive Mutual Fund Charges
Five Broker-Dealers Ordered to Pay $18 Million in Restitution for Failing to Wave Class A Mutual Fund Share Charges…
Five Broker-Dealers Ordered to Pay $18 Million in Restitution for Failing to Wave Class A Mutual Fund Share Charges…
The Securities and Exchange Commission (“SEC”) paid out an award totaling more than $325,000 to a former employee of an investment firm for supplying them with information regarding fraudulent activities at his former firm including specific information regarding the individuals…
Family Endowment Partners, L.P. (“FEP”), a Massachusetts registered investment adviser, and its owner Lee Dana Weiss (“Weiss”) have been accused of violating the antifraud provisions of the federal securities law and related Securities and Exchange Commission (“SEC”) antifraud rules. Furthermore,…
According to the North American Securities Administrators Association (“NASAA”) 2015 Enforcement Report on 2014 Data (the “Report”), state securities regulators conducted 4,853 investigations in 2014 resulting in $405 million in restitution, $174 million in fines and 1,629 years in prison…
According to a Securities and Exchange Commission (“SEC”) complaint filed in Riverside County, California, Paul Ricky Mata (“Mata”), David Kayatta (“Kayatta”) and Mario Pincheira (“Pincheira”) are accused of violating the antifraud provisions of Section 17(a) of the Securities Act of…
Over the past few years, more and more firms are diversifying services and products. In an effort to support this business development and attract new talent, broker-dealers (“BDs”) are permitting associated persons to affiliate with independent, non-affiliated investment advisory firms…… Read More
BDO USA (“BDO”), a national audit firm, and five of its partners are facing charges from the Securities and Exchange Commission (“SEC”) in relation to its client General Employment Enterprises (“General Employment”). According to an SEC press release, BDO ignored…
The Municipal Securities Rulemaking Board (“MSRB”) is seeking The Securities and Exchange Commission’s (“SEC”) approval to apply business-related gift-giving limitations to its municipal advisors. According to an MSRB press release, the goal of the proposed rule change to MSRB Rule…
Birmingham, Alabama-based Stern, Agee, & Leech, Inc. (“Stern Agee”) submitted a Letter of Acceptance, Waiver and Consent (“AWC”) to pursue a settlement regarding alleged rule violations. According to FINRA’s Monthly Disciplinary and Other FINRA Actions Publication a Stern Agee…
The Securities and Exchange Commission (“SEC”) has accused a Bellevue, Washington man of defrauding 250 Chinese investors. In its complaint, the SEC alleges that Lobsang Dargey (“Dargey”), through his “Path America” companies, was able to raise over $125 million…