1. Articles in category: Federal Regulation

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    1. Wall Street braces for MiFID-style rules in the U.S.

      The firewall that Wall Street hoped would protect its U.S. stock and bond analysts from tough European rules is starting to crack.

      At issue are EU regulations that took effect last year that forced banks to start charging clients separately for trading and research, rather than bundling the services into one bill. In October 2017, U.S. brokers scored a major win when the SEC issued a legal reprieve that at least temporarily kept the rules from spreading to America.

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    2. Speed of revolving door between SEC and private sector is shocking, says expert on regulatory capture

      Speed of revolving door between SEC and private sector is shocking, says expert on regulatory capture

      The revolving door at the Securities and Exchange Commission is making it difficult for an already embattled regulator to fight the excesses of Corporate America, a leading scholar on the subject says.

      Luigi Zingales is an economist, a professor of entrepreneurship and finance at the University of Chicago’s Booth School of Business and the director of the Stigler Center for the Study of the Economy and the State whose mission is “to promote and disseminate research on regulatory capture, crony capitalism, and the various distortions that special interest groups impose on capitalism.”

       

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    3. SEC Announces Settlement in Fraud Case Against Former Investment Adviser

      SEC Announces Settlement in Fraud Case Against Former Investment Adviser

      On January 31, 2018, the Commission filed a complaint in the United States District Court for the District of Massachusetts charging Peterson and his former colleague, James Polese, with securities fraud for engaging in various schemes to defraud their clients, including fraudulently misappropriating $350,000 of their client's money, using $100,000 of those funds to make investments in their own names, and directing the remaining $250,000 to Polese's personal bank account and investing $100,000 of another client's funds into an investment in which Peterson and Polese held a financial interest, without informing the client ...

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    4. SEC settles charges with two ICOs that opens the door to nonfraudulent cases

      SEC settles charges with two ICOs that opens the door to nonfraudulent cases

      Cryptorelated business ventures that raise funds informally through a process known as an Initial Coin Offerings, or ICOs, are set for a shake-up—and not just the fraudulent ones.

      In a landmark ruling, the Securities and Exchange Commission on Friday settled charges against two ICO issuers, CarrierEQ Inc., or Airfox and Paragon Coin Inc., for launching unregistered coin offerings. It is the first civil penalty administered solely for violations from an ICO securities offering registration.

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    5. SEC Charges Investment Adviser With Running $3.9 Million Fraud

      The Securities and Exchange Commission today charged a former registered representative and investment adviser in Altoona, Pennsylvania, with operating a long-running offering fraud.

      The SEC’s complaint alleges that Douglas P. Simanski raised over $3.9 million from approximately 27 of his brokerage customers and investment advisory clients, many of them retired or elderly, by telling them that he would invest their money in either a “tax free” fixed rate investment, a rental car company, or one of two coal mining companies in which Simanski claimed to have an ownership interest.  He allegedly told the investors to write checks payable ...

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    6. SEC Issues Report on Cyber-Security Investigations, Internal Controls

      Cyber-security has become — or perhaps should be – a key area of concern for every enterprise. The risks are substantial for the firm, its shareholders, executives and customers as recent cases illustrate. Every enterprise large or small is a potential victim. The losses can and often are substantial not just in dollars but also in trust, customers and more. The Commission has issued guidance. The agency has also brought enforcement actions.

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    7. SEC Obtains Relief to Fully Reimburse Retail Investors Sold Unsuitable Product By Cadaret, Grant & Co. Inc.

      SEC Obtains Relief to Fully Reimburse Retail Investors Sold Unsuitable Product By Cadaret, Grant & Co. Inc.

      Going Public Lawyer

      The Securities and Exchange Commission announced it has obtained monetary relief that will fully reimburse retail investors for losses on a leveraged oil-linked exchange-traded note (ETN) that registered representatives of Syracuse, New York-based broker-dealer and investment adviser Cadaret,...

      Going Public Lawyer

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    8. Manhattan USAO Charges Former Accounting Professor with Fraud

      When making investments many think seeing is believing. That often means asking for the key documents and carefully examining them. If it is in the documents then it must be true. If the papers are furnished by a reputable professional such as a former professor who is an accountant at a known firm, the belief can be bolstered. Thus the investors in an intellectual property firm obtained and reviewed the key documents. They invested millions of dollars. The documents were fraudulent.

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    9. SEC: Former CFP stole $1M from elderly clients, including Alzheimer's sufferers

      Over the course of his 35-year career, most recently with two broker-dealers, Wells Fargo FiNet and Stifel, John Gregory Schmidt forged "close personal relationships" with his clients.

      After about 10 of their accounts showed shortfalls, the former CFP filled the deficits by stealing more than $1.16 million from some seven of his older and wealthier clients, including some suffering from Alzheimer's.

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    1-24 of 541 1 2 3 4 ... 21 22 23 »
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