Tag: regulatory
FINRA Orders National Securities to Pay $9 Million for Multiple Violations,...
The Financial Industry Regulatory Authority has sanctioned broker-dealer National Securities Corporation approximately $9 million, including disgorgement of $4.8 million in net profits received for...
SEC Alleges Western and Five Brokers Violated Reg BI with Improper...
The Securities and Exchange Commission has charged registered broker-dealer Western International Securities and five of its registered representatives – Nancy Cole, Patrick Egan, Andy...
SEC Charges Three Advisers for Recommending Multi-Million-Dollar Ponzi to Clients
The Securities and Exchange Commission filed a civil action in a Georgia district court against Michael Mooney, Britt Wright, and Penny Flippen in connection...
Schwab Subsidiaries to Pay $187 Million for Misleading Robo-Adviser Clients
The Securities and Exchange Commission has charged three Charles Schwab investment adviser subsidiaries for making "false and misleading statements" about the cash component of...
Opinion: The SEC’s Tyrannical Gag Orders
By: Publius
A gag order, as often issued by a court, occurs when a judge bars trial participants from discussing trial-related material outside of the...
Former Broker Sentenced to Six Years in Prison for Embezzling Millions...
John Sherman Jumper, a former broker, was sentenced for embezzling $5.7 million from the pension benefit plan for employees of Snowshoe Refractories, a fire...
Merrill Lynch to Pay $15 Million in Restitution to Settle FINRA...
The Financial Industry Regulatory Authority has censured and ordered Merrill Lynch to pay approximately $15.2 million ($13.4 million, plus interest) in restitution to customers...
SEC Charges EIA All Weather Alpha Fund with Fraud
The Securities and Exchange Commission has charged Detroit-based EIA All Weather Alpha Fund I Partners LLC (EIA) and its sole owner, Andrew M. Middlebrooks...
SEC Charges Wells Fargo Advisors with Anti-Money Laundering Violations
The Securities and Exchange Commission has charged Wells Fargo Advisors with failing to file at least 34 suspicious activity reports in a timely manner...
Medley and Taube Brothers to Pay $10 Million for Misleading Investors...
The Securities and Exchange Commission has charged publicly traded asset manager Medley Management and its former co-chief executive officers, Brook Taube and Seth Taube,...
