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The Financial Industry Regulatory Authority told Bloomberg BNA that it has dramatically expanded resources to tackle recruitment and diversity concerns, while admitting there’s more work to be done in what’s likely to be a “long slow process with incremental progress.” That’s not fast enough for attorneys who represent investors, such […]
On October 17, 2016, FINRA, which regulates stock brokers and brokerage firms, announced that it fined Alex Etter and Caldwell International Securities Corp. in New Jersey, for charges that they engaged in risky speculative trading to generate commissions. FINRA charged Caldwell with generating more than $1 million in “shady commissions,” […]
The energy sector continues to be a popular choice for fraudulent investment advisors and scam artists seeking to solicit money from unsuspecting investors. In particular, “investment programs” involving oil and gas projects – and specifically the drilling of new wells – have been identified as some of the primary tools […]
Lawyers who advise banks, mortgage lenders and other industries regulated by the Consumer Financial Protection Bureau were hit by a blizzard of calls and inquiries this week by clients who are feeling more confident in challenging the agency after a court ruling limited its authority and rejected its statutory interpretations. […]
In September, the North American Securities Administrators Association (NASAA) released its 2016 Enforcement Report, highlighting the results of state securities fraud enforcement efforts during 2015. The 2016 Enforcement Report highlights some alarming trends that are particularly noteworthy for individual investors. Key Statistics from NASAA’s 2016 Enforcement Report #1: Registered Advisors […]
The Securities and Exchange Commission (SEC), U.S. Department of Justice (DOJ) and other federal agencies are all working to protect unsuspecting individual investors against the growing prevalence of scams involving oil and gas investments. In Texas, the heart of the nation’s oil and gas industry, federal authorities recently targeted three […]
Wolves of Wall Street, beware! The Securities and Exchange Commission is taking steps to improve its oversight of thousands of registered investment advisors, or RIAs, which operate under the SEC’s guidance. The Commission announced last month that it will soon launch exams to test the compliance oversight and controls of firms […]
If you have ever watched a movie about Wall Street, you are likely familiar with the concept of a boiler room: a bunch of salespeople sit in a room full of phones, putting on the hard sell on unsuspecting individuals in order to get them to buy into risky investments. […]
The worst of American corporate ethos was on display last week when the CEOs of two leading companies, Wells Fargo & Co. and Mylan N.V., were called on the carpet by Congress for deeply flawed cultures that put greed and profits over customers and clients. Cross-selling, or selling a different […]
In the wake of natural disasters, many people selflessly volunteer their time and donate money to help those in need. Unfortunately, there are also people who use these tragic events to take advantage of others. Sadly, this is a recurring problem in the United States, and one that has surfaced […]