Robert H. Shapiro, former CEO of Woodbridge Group, will serve 25 years in prison for perpetrating a $1.3 billion Ponzi scheme, causing the loss of roughly $470 million for over 8,000 investors.
Tagged with "James Eccleston"
Page 1 of 91
Maximum Prison Sentence Given to Perpetrator of $1.3B Ponzi Scheme
Posted on October 17th, 2019 at 5:23 PM
FINRA’s Ten Largest BD Arbitration Awards in 2019
Posted on October 16th, 2019 at 2:29 PM
As the year comes to an end, ThinkAdvisor has released the Financial Industry Regulatory Authority’s (FINRA’s) 10 largest broker-dealer (BD) arbitration awards in 2019. They are, in order from highest to lowest:
Baird Advisors Win Expungement of Complaint Alleging Unsuitability Claims
Posted on October 11th, 2019 at 2:10 PM
Robert W. Baird ("Baird") advisors recently were successful in expunging a complaint from a former client. The allegations include unsuitably of 529 accounts, variable annuities in individual retirement accounts ("IRAs"), and risky proprietary funds.
SEC Adopts New Rule on Exchange-Traded Funds
Posted on October 10th, 2019 at 2:27 PM
The Securities and Exchange Commission (“SEC”) recently announced that it voted to adopt a new rule and form amendments designed to “modernize” the regulation of exchange-traded funds (“ETFs”). The SEC also specified that it will issue an exemptive order that further harmonizes related relief for broker-dealers.
State Regulators Demand Further Action Where FINRA Can Not
Posted on October 9th, 2019 at 4:09 PM
Financial Industry Regulatory Authority Inc. (“FINRA”) recently revealed that it would not be investigating 30 former JPMorgan advisors accused of engaging in “suspicious activity.” The allegations include stealing client and company funds, altering and forging documents, among others.
SEC Makes More Efficient Process for New ETFs
Posted on October 8th, 2019 at 3:34 PM
The Securities and Exchange Commission (“SEC”) recently eased regulatory constraints for exchange-traded funds (“ETFs”) that the industry long complained about, due to with the wait and the cost of getting SEC to sign off on new funds.
DOJ Charged Former LPL Advisor with Defrauding Clients in $5 Million Ponzi Scheme
Posted on October 7th, 2019 at 3:22 PM
The Department of Justice (“DOJ”) has charged former broker James T. Booth for defrauding his clients of approximately $5 million over the course of a yearlong Ponzi scheme.
SEC Obtains Partial Summary Judgment against Westport Capital Markets
Posted on October 4th, 2019 at 12:10 PM
A federal court recently granted partial summary judgment in the Securities and Exchange Commission's ("SEC") favor against Christopher E. McClure and his firm, Westport Capital Markets, LLC.
SEC Orders 17 Advisory Firms to Pay $11 Million to Investors For Failing to Disclose Conflicts of Interest
Posted on October 3rd, 2019 at 4:01 PM
The Securities and Exchange Commission ("SEC") recently ordered 17 investment advisory firms to pay $11 million for failure to disclose conflicts in their mutual fund share class selection practices.
FINRA Suspends Ex-Wells Fargo Broker over Personal Email Use
Posted on October 2nd, 2019 at 2:09 PM
The Financial Industry Regulatory Authority Inc. (“FINRA”) recently suspended an independent broker for using his personal email and computer to communicate with clients in violation of industry rules.
Page 1 of 91