Tagged with "law"

SEC Charges Chicago Advisor Who Allegedly Misappropriated $683,000 of Investor Funds

Posted on October 7th, 2022 at 1:08 PM
SEC Charges Chicago Advisor Who Allegedly Misappropriated $683,000 of Investor Funds

The Securities and Exchange Commission (SEC) has charged a Chicago-based advisor who allegedly misappropriated $683,000 of investor funds. 

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Sparkster Ordered to Pay $35 Million Over Unregistered Crypto Asset Offering

Posted on October 5th, 2022 at 1:06 PM
Sparkster Ordered to Pay $35 Million Over Unregistered Crypto Asset Offering

The Securities and Exchange Commission (SEC) has issued a cease-and-desist order against Sparkster and its CEO, Sajjad Daya, over an unregistered crypto asset offering that spanned from April 2018 through July 2018.

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Former Morgan Stanley Advisor Pleads Guilty to $7 Million Ponzi Scheme

Posted on October 4th, 2022 at 1:06 PM
Former Morgan Stanley Advisor Pleads Guilty to $7 Million Ponzi Scheme

A former North Carolina-based Morgan Stanley advisor has pleaded guilty to two felony counts in connection with a Ponzi scheme he operated.

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SEC Charges Real Estate Investment Firm and Owner Over $100 Million Fraud

Posted on October 3rd, 2022 at 1:29 PM
SEC Charges Real Estate Investment Firm and Owner Over $100 Million Fraud

The Securities and Exchange Commission has charged Secured Income Group, Inc. along with its owner, Max McDermott, and its head investor relations representative, Stacey Porter, with fraud in a securities offering. 

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SEC Charges Loop Capital Markets with Violating Municipal Advisor Registration Rule

Posted on September 29th, 2022 at 12:44 PM
SEC Charges Loop Capital Markets with Violating Municipal Advisor Registration Rule

The Securities and Exchange Commission has charged Loop Capital Markets for allegedly providing advice to a municipal entity without registering as a municipal advisor.

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SEC Charges Hedge Fund Portfolio Manager with Fraud

Posted on September 15th, 2022 at 2:55 PM
SEC Charges Hedge Fund Portfolio Manager with Fraud

The Securities and Exchange Commission (SEC) has charged an Oklahoma City-based hedge fund portfolio manager with defrauding investors by making unauthorized trades that caused the fund to lose at least $10 million.

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Terraform Labs Faces Class Action Over TerraUS Failure

Posted on September 15th, 2022 at 11:16 AM
Terraform Labs Faces Class Action Over TerraUS Failure

Terraform Labs is facing a potential class action suit over the collapse of its TerraUS stablecoin, which generated millions in losses to investors. 

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Former Wisconsin Advisor Receives 84-Month Prison Sentence For Fraud

Posted on September 13th, 2022 at 3:39 PM
Former Wisconsin Advisor Receives 84-Month Prison Sentence For Fraud

A former Wisconsin-based advisor has received an 84-month prison sentence for defrauding nearly 100 investors and a bank, according to the Department of Justice. 

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FINRA Settles With Kovack Over Failure to Supervise

Posted on September 9th, 2022 at 1:11 PM
FINRA Settles With Kovack Over Failure to Supervise

Kovack Securities over the firm’s failure to supervise one of its unnamed advisors who improperly recommended short-term investments in mutual fund share classes. 

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California Advisor Terminated From Two Firms Over Undisclosed Outside Business

Posted on September 2nd, 2022 at 1:19 PM
California Advisor Terminated From Two Firms Over Undisclosed Outside Business

A California-based financial advisor had his record tarnished on two occasions in a six-month period over related undisclosed outside business activity (OBA) allegations. 

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LATEST NEWS AND ARTICLES

July 1, 2025
State Regulators Fine Five Major Broker-Dealers Nearly $10 Million for Excessive Commission Charges

A coalition of state securities regulators has ordered five broker-dealers — including Edward Jones, LPL Financial, RBC, Stifel, and TD Ameritrade — to pay almost $9.9 million in penalties for overcharging customers on small-value trades.

June 30, 2025
SEC Charges New Mexico Investment Advisor with Fee Fraud and Fiduciary Breaches

The Securities and Exchange Commission (“SEC”) has charged David A. Nagler and his firm, New Line Capital LLC, with defrauding clients through deceptive fee disclosures and undisclosed conflicts of interest.

 

June 27, 2025
FINRA Sanctions Advisor for Accepting $1 Million Inheritance from Client Without Firm Approval

FINRA has fined and suspended veteran advisor Kenneth J. Malm for accepting a $1 million inheritance from a client without receiving the necessary firm approval.