Brian Ourand, a former registered investment adviser in Washington, D.C. was found guilty by the SEC for misappropriating funds from his clients, which included many professional athletes such as former heavyweight champion Mike Tyson and NBA star Glen Rice.
The SEC charged a California-based penny stock company, along with four corporate officers, with misleading investors about the research, development, and profitability of its purported business to manufacture power generation products such as fuel cells.
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Morgan Stanley Smith Barney has agreed to pay an $8 million penalty and admit wrongdoing in order to settle charges by the SEC.
This is the third in a series of posts to discuss the 51 recommendations the FINRA Dispute Resolution Task Force (Task Force) has made to the National Arbitration and Mediation Committee (NAMC). NAMC is FINRA’s standing Board advisory committee.
Red River Securities, a Plano, Texas-based broker-dealer, has been expelled from FINRA for fraudulent sales in five oil and gas joint ventures.
This is the first in a series of posts to discuss the 51 recommendations the FINRA Dispute Resolution Task Force (Task Force) has made to the National Arbitration and Mediation Committee (NAMC).
Across its private client, independent brokerage and in-bank brokerage channels, Wells Fargo Advisors experienced a net loss of 204 brokers during the fourth quarter of this past year.
Eccleston Law LLC is pleased to announce that its client’s Central Registration Depository (CRD) and BrokerCheck record will be expunged of references to a baseless customer complaint filed against him and his former firm.
The SEC has barred Connecticut investment adviser John W. Rafal for allegedly concealing a referral fee.
Former registered rep Bobby Eugene Guess was arrested following his indictment on charges of securities fraud, theft, money laundering and engaging in organized criminal activity related to the multi-million-dollar sale of investments in an internet advertising company.
We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.
According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.
The Financial Industry Regulatory Authority (FINRA) has imposed fines and censured independent broker-dealers Osaic Wealth and Securities America for cybersecurity deficiencies that led to hackers accessing the private information of more than 32,000 customers.
WealthFeed leverages proprietary AI technology to collect nine real-time financial data points, including business sales, capital raises, inheritances, and job changes.
