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Massachusetts Securities Division Charges GPB for Allegedly Defrauding Investors

The Massachusetts Securities Division has charged GPB Capital Holdings with allegedly violating state securities laws, after an investigation found that the company purportedly issued...

FINRA Fines Merrill Lynch for Allowing Unregistered Executive to Act as...

The Financial Industry Regulatory Authority has censured and fined Merrill Lynch $150,000 for purportedly allowing an executive with its non-FINRA member affiliate to function...

Non-Traded REIT Fundraising Plummets to $310 Million in April 2020

Sales of non-traded REITs declined to $310 million in April 2020, compared to $780 million in March 2020 and $2.5 billion in February and...

Destra Interval Fund Seeks Listing on National Exchange

Destra Multi-Alternative Fund, a closed-end interval fund, plans to hold a special meeting of shareholders to facilitate listing on the New York Stock Exchange...

SEC Fines Actor Steven Seagal for Unlawfully Promoting Crypto Offering

The Securities and Exchange Commission has settled charges against actor Steven Seagal for failing to disclose payments he received for promoting an investment in...

FINRA Sanctions Broker for Using WhatsApp to Text Overseas Clients

The Financial Industry Regulatory Authority has fined Aegis Capital Corp. broker Paul Falcon $5,000 for using Facebook’s WhatsApp Messenger to communicate with three of...

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...

PREP Securities Expands Distribution Team with Eight Senior Sales Professionals

PREP Securities LLC, the broker-dealer affiliate of PREP Property Group, has expanded its distribution team with the addition of several senior professionals, and will...

Concorde Expands Team with Two Senior Executive Hires

Concorde Investment Services, a broker-dealer and subsidiary of Concorde Holdings, has named Lori Kamen as chief compliance officer and Melissa Shrimpton as operations manager. Kamen...

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...