The Financial Industry Regulatory Authority (“FINRA”) arbitration panel recently dismissed a temporary restraining order (“TRO”) against a former Edward Jones broker who initially agreed to the TRO prohibiting him from telling customers about his move to Ameriprise.
The U.S. Securities and Exchange Commission ("SEC") has barred former Securities America broker and certified public accountant for his role in a Ponzi scheme that defrauded investors of about $1 billion.
The Financial Industry Regulatory Authority (“FINRA”) suspended and fined Yasmin Bashirova, a Goldman Sachs investment banking representative for bringing a cell phone to her Securities Industry Essentials (“SIE”) Exam in April of 2019.
Cameron R. Jezierski is the last of three alleged perpetrators to be sentenced in a criminal case parallel to a 2018 SEC complaint regarding a $345 million Ponzi scheme that defrauded over 230 investors across the country.
According to a November 26th press release, the Securities and Exchange Commission (“SEC”) has revoked the registration of investment adviser International Investment Group LLC (“IIG”), following charges of “securities fraud for hiding losses in its flagship hedge fund and selling at least $60 million in fake loan assets to clients.”
According to the Securities and Exchange Commission (“SEC”), on November 12th, 2019, a final judgment was entered in Illinois federal court against an investment adviser charged with “fraud for misappropriating client assets and misrepresenting the value of 15 unregistered advisors.”
On November 26, 2019, the Securities and Exchange Commission (“SEC”) published an FAQ regarding Form CRS (a.k.a. “relationship summary”), prepared by the staff of the Division of Investment Management and the Division of Trading and Markets. In the FAQ, the SEC specifies that the responses represent the views of the staff of the Division of Investment Management and the Division of Trading and Markets, and should not be construed as a rule, regulation, or statement of the SEC. The SEC further specifies that the FAQ was neither approved nor disapproved by the SEC, and the FAQ has no legal force or effect.
Equity crowdfunding, though a relatively new practice, is becoming a viable option for investors. The SEC estimates that 1,351 equity crowdfunding offerings have taken place between 2016 and 2018, raising over $107 million in the United States. From 2017 to 2018, the number of investors participating in equity crowdfunding nearly doubled.
An Indianapolis federal court has denied a motion by Edward Jones for a temporary restraining order ("TRO") against a former broker who joined a competing firm.
The Securities and Exchange Commission ("SEC") has filed an emergency action and obtained a temporary restraining order and asset freeze against two Florida men and the two companies they control in connection with an alleged $6 million Ponzi scheme that has defrauded at least 55 investors, many of whom are senior citizens.
