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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 […]
In our latest post on the Puerto Rico bond saga, we discussed President Obama’s signing of a new law that created a financial oversight board (FOB) responsible for approving the restructuring of the U.S. territory’s $70 billion debt. In that article, entitled Puerto Rico’s New Law is a Rearrangement of […]
In August, the Securities and Exchange Commission (SEC) issued an Investor Bulletin advising individual investors on the various fees associated with different types of mutual funds, as well as some additional considerations for those considering mutual fund investments. Our attorneys summarize this Investor Bulleting below. For more information on some […]
Late last month, President Obama selected an All-Star team of seven experts in finance and law to clean up the fiscal mess in Puerto Rico. The new group, a team of law professors, scholars and businessmen known as the Independent Control Board, has the herculean task of restructuring the Island’s […]