Tag: regulatory
Lodging Fund REIT Receives Wells Notice
Lodging Fund REIT III Inc., a publicly registered non-traded real estate investment trust, disclosed that the Securities and Exchange Commission issued a Wells notice...
SEC Bars Former Ameriprise Financial Investment Advisor
The Securities and Exchange Commission has barred Arthur S. Hoffman, a former investment adviser representative of Ameriprise Financial Services.Hoffman began his career at Morgan...
SEC Charges Former Advisor with Misappropriation of Client Funds
The Securities and Exchange Commission has charged David Sheldon Wells, a former representative of an SEC-registered broker-dealer and investment advisory firm, Fifth Third Securities...
Former LPL Broker Pleads Guilty to Fraud and Witness Tampering
James Kenneth Couture, a registered investment adviser and former LPL broker accused of stealing nearly $3 million from six clients, has pled guilty to...
NASAA REIT Proposal Garners Objections from Industry Advocates
The North American Securities Administrators Association (NASAA), a non-profit association of state, provincial, and territorial securities regulators, received public comment on proposed revisions to...
FINRA Fines Another Broker-Dealer over GPB Private Placement Sales
The Financial Industry Regulatory Authority has fined broker-dealer, Sanctuary Securities Inc., formerly known as David A. Noyes & Company, $60,000 over sales of GPB...
SEC Begins Administrative Proceedings Against Broker Serving 7.5 Years in Federal...
The Securities and Exchange Commission has instituted public administrative proceedings against Leon Vaccarelli, a former broker and investment adviser who is currently serving 7.5...
FINRA Fines and Suspends Former SagePoint Broker
The Financial Industry Regulatory Authority has fined and suspended Michael Ferrera Jr., a former SagePoint broker accused of failing to disclose an outside business...
SEC Charges Advisory Firm and Executives with $75 Million Fraud
The Securities and Exchange Commission has charged two North Carolina-based executives, Gregory E. Lindberg and Christopher Herwig, and their registered investment adviser, Standard Advisory...
Opinion: The Supreme Court Misses its Chance to Do Right
By: PubliusIn 1937, U.S. Supreme Court Justice, Benjamin Cardozo, proclaimed in Palko v. Connecticut, “Freedom of expression is the matrix, the indispensable condition, of...
SEC Amends Whistleblower Rules to Incentivize Tips
The Securities and Exchange Commission has amended the rules governing its whistleblower program, which was established in 2010 under the Dodd-Frank Act.The first rule...
FINRA Fines Broker-Dealer over GPB Fund Sales
The Financial Industry Regulatory Authority has fined broker-dealer, Capital Investment Group Inc., $50,000 over sales of GPB Automotive Portfolio LP and GPB Holdings II...
Massachusetts Fines MassMutual Subsidiary $250,000 for Failing to Supervise Broker
The Massachusetts Securities Division has levied a $250,000 fine against MLS Investment Services LLC, a subsidiary of MassMutual, over the company’s failure to supervise...
SEC Sues Fund Manager and Investment Adviser for $30 Million Mineral...
The Securities and Exchange Commission has charged Christopher Bentley and his company, Bellatorum Resources LLC, for engaging in alleged "fraudulent acts" that resulted in...
FINRA Fines LPL Financial $300,000 for Customer Reserve Violations
The Financial Industry Regulatory Authority has censured and fined LPL Financial, the nation's largest independent broker-dealer, for allegedly failing to accurately calculate its customer...
SEC Charges Broker-Dealer and Two Senior Executives over Unauthorized Securities Transactions
The Securities and Exchange Commission has charged broker-dealer Alpine Securities Corporation, its former chief executive officer Christopher Doubek, and its current chief operations officer...
NASAA Extends Comment Period on Proposed Non-Traded REIT Policy Revisions
The North American Securities Administrators Association (NASAA) has extended the public comment period on proposed revisions to its non-traded real estate investment trust guidelines....
National Securities Closes Down
National Securities Corporation, a broker-dealer based in Boca Raton, Florida, has withdrawn its registration with the Financial Industry Regulatory Authority after 75 years in...
Opinion: SEC & Regulatory Overreach – Nondelegation Doctrine
By: PubliusIn my first piece that I wrote, almost one year ago, I opened with a quote from Warren Buffett: “If a cop follows...
FINRA Suspends and Fines Former Schwab Broker for Failing to Disclose...
The Financial Industry Regulatory Authority has sanctioned a former Charles Schwab broker for failing to disclose multiple felony charges as required by the regulator.According...
