Tagged with "law"

Prager Metis Becomes First CPA Firm Involved With FTX Scam

Posted on December 5th, 2022 at 1:05 PM
Prager Metis Becomes First CPA Firm Involved With FTX Scam

Prager Metis becomes the first CPA firm to open a Metaverse headquarters in the metaverse platform Decentraland. 

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BlockFi Files for Bankruptcy as FTX and Star Endorsers Named in Lawsuit

Posted on December 1st, 2022 at 3:13 PM
BlockFi Files for Bankruptcy as FTX and Star Endorsers Named in Lawsuit

BlockFi had paused client withdrawals due to uncertainties with FTX, as the two are closely tied together.

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FINRA Amends and Delays Expungement Rule Proposal

Posted on November 22nd, 2022 at 1:51 PM
FINRA Amends and Delays Expungement Rule Proposal

The Financial Industry Regulatory Authority (FINRA) once again has amended and delayed a proposed rule change designed to tighten the process for advisors to expunge client complaints from their records. 

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FINRA Fines Wedbush Securities $850,000 For Allegedly Falsifying Client Statements

Posted on November 21st, 2022 at 2:12 PM
FINRA Fines Wedbush Securities $850,000 For Allegedly Falsifying Client Statements

The Financial Industry Regulatory Authority (FINRA) has fined Wedbush Securities $850,000 to settle allegations that the firm falsified monthly client statements for five years.

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UBS Seeks Injunction Against $8 Million Indiana RBC Team

Posted on November 18th, 2022 at 1:14 PM
UBS Seeks Injunction Against $8 Million Indiana RBC Team

UBS Wealth Management has asked a federal court to issue a temporary restraining order (TRO) against an $8 million team that departed to RBC Wealth Management in Indianapolis, Indiana. 

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SEC Charges Creator of Global Crypto Ponzi Scheme and Three U.S. Promoters Over $295 Million Fraud

Posted on November 16th, 2022 at 2:51 PM
SEC Charges Creator of Global Crypto Ponzi Scheme and Three U.S. Promoters Over $295 Million Fraud

The Securities and Exchange Commission has charged Douver Braga, Joff Paradise, Keleionalani Taylor, and Jonathan Tetrault for their roles in Trade Coin Club, which was a fraudulent Ponzi scheme that raised nearly $295 million from over 100,000 investors worldwide. 

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Former Advisor Receives 20-Year Prison Sentence Over Ponzi Scheme Involving Purchase of Advisors’ Books of Business

Posted on November 14th, 2022 at 1:04 PM
Former Advisor Receives 20-Year Prison Sentence Over Ponzi Scheme Involving Purchase of Advisors’ Books of Business

A former financial advisor who was sentenced earlier this year to 17.5 years in prison for his role in operating a Ponzi scheme now has received a 20-year prison sentence for mail fraud related to the same scheme, according to court documents.

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FINRA Seeks to Extend Remote Inspections Through 2023

Posted on November 11th, 2022 at 12:55 PM
FINRA Seeks to Extend Remote Inspections Through 2023

The Financial Industry Regulatory Authority (FINRA) is once again seeking to extend a temporary rule permitting financial advisory firms to remotely examine branch offices. 

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Hartman Short Term Income Properties Hires Raymond James to Consider Strategic Alternatives

Posted on November 9th, 2022 at 2:55 PM
Hartman Short Term Income Properties Hires Raymond James to Consider Strategic Alternatives

A publicly registered non-traded real estate investment trust, Hartman Short Term Income Properties, has announced that its board of directors has hired Raymond James to help the business pursue strategic alternatives. 

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Former Securities America Advisor Charged with Misappropriating $260,000

Posted on November 8th, 2022 at 1:20 PM
Former Securities America Advisor Charged with Misappropriating $260,000

The Financial Industry Regulatory Authority (FINRA) has barred a former Securities America advisor who allegedly misappropriated $260,000 from clients.

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LATEST NEWS AND ARTICLES

October 23, 2025
Retail Access to Private Markets Raises Investor Protection and Regulatory Concerns

Robinhood Markets recently registered its first alternative investment vehicle, Robinhood Ventures Fund I, with the Securities and Exchange Commission (SEC).

October 21, 2025
Judge Denies Merrill Lynch's TRO in Advisor Transition

A federal judge has rejected Merrill Lynch’s request for a temporary restraining order (TRO) against a group of former financial advisors who left the firm to launch their own independent practice, OpenArc Corporate Advisory, under Dynasty Financial Partners’ platform with custody at Charles Schwab.

October 20, 2025
FINRA Accuses Former MML Broker of Cheating on SIE Exam

Regulators have accused a former MML Investors Services-affiliated broker of cheating on the Securities Industry Essentials (SIE) exam, according to a recent Financial Industry Regulatory Authority (FINRA) enforcement complaint.