Tag: regulatory
Next Financial to Refund $500,000 to Customers over Mutual Fund Sales
Texas-based broker-dealer Next Financial Group Inc. has agreed to refund $500,000 to customers of a former broker who moved clients in and out of...
FINRA Bars Another Broker for Selling Woodbridge Ponzi Promissory Notes
The Financial Industry Regulatory Authority has barred Jeffrey Scott Nimmow for selling nearly $3.4 million in Woodbridge promissory notes to investors.
In January 2019, a...
Massachusetts Charges Accountant for Allegedly Selling Unregistered Investments
The Massachusetts Securities Division has charged Ronald J. Leger for allegedly selling more than $2.5 million in unregistered securities to Massachusetts investors.
Leger, a licensed...
Former Wells Fargo/Morgan Stanley Broker Sentenced for Fake Investment Scheme
Elias Herbert Hafen, a former financial adviser at Wells Fargo and Morgan Stanley, has been sentenced to 30 months in prison after convincing retail...
Inland Exec Appointed to FINRA’s Midwest Region Committee
Inland Securities Corporation, the dealer-manager and placement agent for real estate investment programs sponsored by Inland Real Estate Investment Corporation and Inland Private Capital...
Guest Contributor: 2020 Examination Priorities, FINRA to Scrutinize Private Placement Marketing...
By: Brad Updike, Director at Mick Law P.C.
The Financial Industry Regulatory Authority (FINRA) released its list of examination priorities on January 9, 2020. In...
Senator Tim Scott Plans Legislation to Amend Opportunity Zone Designations
Senator Tim Scott (R-S.C.) is considering a bill that would let state and local governments amend the census tracts that were designated as opportunity...
FINRA Fines Royal Alliance Over Two Brokers Who Stole $3.8 Million...
The Financial Industry Regulatory Authority has fined independent broker-dealer Royal Alliance Associates $400,000 after two of its brokers, acting independently of each other, stole...
NASAA Announces Top Investor Threats for 2020
The North American Securities Administrators Association (NASAA) announced the top five products or schemes likely to scam investors in the coming year and recommended...
SEC Proposes to Expand Accredited Investor Definition
The Securities and Exchange Commission proposed amendments on Wednesday to expand the definition of accredited investor, one of the principal tests for who is...
