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.
Tagged with "SEC"
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Sales in Unregistered Securities Are Soaring but It Comes at a Cost - Part 1
Posted on May 2nd, 2019 at 4:40 PM
SEC and FINRA Expands Initiative to Require Investment Advisers and Brokers to Fully Disclose Their Sales Strategies
Posted on April 24th, 2019 at 5:01 PM
According to the SEC’s disclosure initiatives and examinations, the agency is aiming to require investment advisers to obtain informed consent from their clients by having them acknowledge that they were not sold the least expensive product and that less costly options exist. The SEC’s initiative applies specifically to fee-only RIAs and dully registered investment advisers who sell products to earn commissions.
SEC Files Charges Against New Jersey Investment Adviser Accused of Overbilling Clients
Posted on April 19th, 2019 at 2:10 PM
The SEC has filed charges against New Jersey investment adviser and COO of M&R Capital, Richard T. Diver for fraudulently overbilling the firm’s clients.
SEC Bars New Jersey Investment Adviser Running Ponzi Scheme to Fund Gambling Habit
Posted on April 8th, 2019 at 5:12 PM
The SEC has obtained a final judgment against investment adviser Scott Newsholme of Farmingdale, New Jersey for allegedly defrauding elderly clients in a $3.8 million Ponzi-like scheme.
Recent Whistleblower Award Demonstrates CFTC’s Continued Commitment to Program
Posted on April 5th, 2019 at 3:25 PM
The U.S. Commodity Futures Trading Commission (CFTC) recently announced a whistleblower award of over $2 million to an individual for providing expert analysis in conjunction with a related action instituted by another federal regulator.
SEC Awards Two JPMorgan Chase Whistleblowers $50 Million
Posted on April 2nd, 2019 at 5:19 PM
The SEC announced that it has awarded two whistleblowers a total of $50 million. The SEC received $267 million stemming from a settlement with JPMorgan Chase & Co.
SEC Director Explains His Principle-Based Approach to Disclosing Complex, Uncertain and Evolving Risks
Posted on March 28th, 2019 at 9:00 AM
Earlier this month, David H. Hinman, the SEC’s Director of Corporate Finance made remarks at the 18th Annual Institute on Securities Regulation in Europe, which highlighted his principle-based approach for companies to disclose complex, uncertain and evolving risks to the public.
SEC Charges California CPA with Stealing Millions from Investors to Perpetrate Ponzi Scheme
Posted on March 25th, 2019 at 4:28 PM
The SEC has charged Long Beach, California CPA and unregistered investment adviser, Carol Ann Pedersen with stealing millions of dollars from investors to perpetrate a Ponzi scheme.
Wells Fargo Agrees to Settle SEC Allegations of Misrepresenting a $75 Million Bond Offering
Posted on March 22nd, 2019 at 1:59 PM
Wells Fargo Securities has agreed to pay the SEC $812,500 to settle a pending civil lawsuit against the firm which stemmed from allegations that it misled investors in a $75 million bond offering.
Wedbush Securities Settles SEC Failure-To-Supervise Charges Related to Pump and Dump Scheme
Posted on March 15th, 2019 at 9:10 AM
Wedbush Securities, Inc. has agreed to settle an SEC administrative proceeding related to the firm’s failure to take action despite being aware that an employee was involved in a long-running pump-and-dump scheme.
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