The Financial Industry Regulatory Authority (FINRA) warns of potentially fraudulent activity involving low-priced securities offerings.
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The Financial Industry Regulatory Authority (FINRA) warns of potentially fraudulent activity involving low-priced securities offerings.
State securities regulators are warning that the current financial climate is likely to lead to a surge in investment scams related to coronavirus. The North American Securities Administrators Association (“NASAA”) warned that scammers will try to take advantage of the fear and uncertainty in the financial market resulting from the coronavirus pandemic.
According to a report released by Cornerstone Research, the median settlement for securities class actions in 2019 was $11.5 million, which was unchanged from the 2018 median. The 2018 and 2019 median was approximately 34% above the median for the period between 2010 and 2018. In 2019, there was a decrease in the number of small securities class action settlements and an increase in mid-sized settlements. Additionally, 2019 saw four mega settlements over $100 million.
The Securities and Exchange Commission (“SEC”) recently requested public comments on easing access to private placements, according to their concept release.
This is the third in a series which highlights an InvestmentNews article concerning the recent uptick in the sale of unregistered securities and how those transactions have resulted in the proliferation of fraudulent schemes.
This is the second in a series which highlights an InvestmentNews article concerning the recent uptick in the sale of unregistered securities and how those transactions have resulted in the proliferation of fraudulent schemes.
This is the first in a series which highlights an InvestmentNews article concerning the recent uptick in the sale of unregistered securities and how those transactions have resulted in the proliferation of fraudulent schemes.
FINRA has barred Denver, Colorado broker, Daniel Todd Levine for failing to cooperate in an investigation regarding allegations that he engaged in undisclosed outside business activities while working at Morgan Stanley.
FINRA has barred former MML Investor Services, LLC broker, Floyd Powell for failing to disclose to his firm that he sold unregistered promissory notes to 11 customers and received $104,000 in commissions as a result of the transactions.
The North Dakota Securities Department has settled an investigation against Minneapolis-based Questar Capital Corporation broker, Kevin Wanner.
Amidst swirling speculation regarding its connections with a client linked to the Prophecy Asset Management collapse, B. Riley Financial Inc. has conducted an internal
review, concluding no affiliations with the defunct hedge fund.
A recent analysis by Golsan Scruggs reveals a staggering 231 percent increase in errors-and-omissions (E&O) liability claims among registered investment advisor (RIA)
insurers.
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.