The Securities and Exchange Commission ("SEC") has charged Raymond James entities with improperly charging retail investors and charging excess commissions for brokerage customer investments.
Tagged with "SEC"
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Raymond James Agrees to Pay $15 Million for Overcharging Investors
Posted on September 19th, 2019 at 5:22 PM
Lake Geneva Investor Settles SEC Market-Timing Probe for $2.37 Million
Posted on September 12th, 2019 at 11:44 AM
A mutual fund investor agreed to pay the Securities and Exchange Commission (“SEC”) nearly $2.37 million to end an investigation.
SEC Charges Former CFO of Florida Cash Advance Company with Fraud
Posted on September 9th, 2019 at 4:19 PM
The Securities and Exchange Commission ("SEC") charged 1 Global Capital LLC's ("1 Global") former chief financial officer, Alan G. Heide, with defrauding retail investors. The now-bankrupt Florida-based cash advance company allegedly fraudulently raised more than $322 million from 3,600 investors between 2014 and last year.
Los Angeles Investment Adviser Indicted
Posted on September 5th, 2019 at 5:04 PM
A federal grand jury in Los Angeles has indicted investment adviser Motty Mizrahi on wire fraud charges. The SEC previously charged Mizrahi and his sole proprietorship MBIG Company in an emergency action where it obtained a temporary restraining order and subsequently a preliminary injunction against Mizrahi and MBIG, for perpetrating a fraud on their investment advisory clients.
SEC Charges Real Estate Company and its Founder with $8.75 Million Offering Fraud
Posted on September 3rd, 2019 at 5:03 PM
The Securities and Exchange Commission ("SEC") brought fraud charges against a real estate company, Hartman Wright Group, LLC and its founder, Tytus W. Harkins, for raising over $8 million in an unregistered real estate-based offering fraud.
SEC charges Chicago Financial Adviser with $1.7 Million Fraud
Posted on August 30th, 2019 at 3:57 PM
The Securities and Exchange Commission ("SEC") charges Marcus Boggs, a former Chicago investment adviser at the Chicago office of Merrill Lynch, with stealing over $1.7 million from at least three of his clients.
The SEC's New Bulletin on Indexed Annuities
Posted on August 29th, 2019 at 3:58 PM
The Securities and Exchange Commission's Office of Investor Education and Advocacy recently issued a bulletin to educate investors about indexed annuities. Indexed annuities are complex products, and as such investors should carefully read the indexed annuity contract and any prospectus, before buying the annuity. Let's highlight the key points of the bulletin.
SEC Charges Brenda Smith with $100 Million Fraud, Obtains Emergency Asset Freeze
Posted on August 28th, 2019 at 5:15 PM
The Securities and Exchange Commission ("SEC") charged Brenda Smith, a Pennsylvania investment adviser, with operating an investment advisory fraud involving over $100 million in investments. The SEC also obtained an emergency asset freeze.
Protecting a Whistleblower's Confidentiality in SEC Filings
Posted on August 21st, 2019 at 9:58 AM
Before the SEC pays any award to a whistleblower, who has filed information to the SEC anonymously, he/she must disclose his/her identity to the SEC, and the identity must be verified by the SEC as provided in 21F-10 of the Exchange Act.
Protecting the Confidentiality of a Whistleblower
Posted on August 20th, 2019 at 4:45 PM
One way is to prevent any disclosure of a whistleblower's information is to submit information to the SEC anonymously. In this case, however, to be eligible for an award, the whistleblower must have an attorney representing him in connection with both a whistleblower's submission of information and a claim for an award. The attorney must provide his/her name and contact information to the SEC at the time of submission of information. The whistleblower and attorney must follow the procedures provided in 21F-9 of the Exchange Act.
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