Blog

Our experts frequently write blog posts about the findings of the research we are conducting.

Displaying 10 out of 69 results for "Weekly Regulatory Review".

Ohio Division of Securities, In the Matter of Timothy K. Fife - Ohio IA Registration to be Revoked

(Feb 2016)

In February 2016, after evidentiary hearings, the Hearing Examiner recommended that Timothy Fife's investment adviser representative registration be revoked. The Report and Recommendation is available on our website. Fife's registration is being revoked because he provided investment advice and initiated securities transactions while not licensed in Ohio and because he recommended the unsuitable purchase and holding for extended periods of time of leveraged and inverse ETFs. Dr. McCann ...

FINRA Regulatory Priorities 2014

(Jan 2014)

Early this month, the Financial Industry Regulatory Authority (FINRA) released their 2014 regulatory and examination proirities . FINRA is continuing to focus on the suitability of recommendations made to retail investors. FINRA specifically mentions complex structured products (including leveraged ETFs), non-traded REITs, frontier funds, and interest rate sensitive instruments such as mortgage-backed securities and municipal bonds. At a recent conference, a FINRA representative added that...

Brokers Steal from Elderly Widow

(Dec 2013)

In our day-to-day work, we often come across brokers willing to ruin the lives of the undereducated or underprepared in order to make a quick buck. We thought we'd highlight a particularly egregious example of this from a recent Financial Industry Regulatory Authority (FINRA) press release.

According to the release, Fernando L. Arevalo and Jimmy E. Caballero encouraged an "elderly widow with diminished mental capacity" to sell two annuities for approximately $300,000 and then moved the funds...

FINRA Foundation Releases Military Financial Capability Survey

(Dec 2013)

Yesterday, the Financial Industry Regulatory Authority (FINRA) Investor Education Foundation announced the release of their National Financial Capability Study's Military Survey. The interactive results of the surveycan be accessed online. According to the foundation's president, the study finds that "most servicemembers are taking control of their finances. Three quarters have a retirement account, nearly 80 percent are living within their means, and many have participated in financial...

FINRA Announces Enhanced BrokerCheck System

(Nov 2013)

Yesterday the Financial Industry Regulatory Authority announced an enhanced version of their BrokerCheck system. We regularly suggest that investors consult FINRA's BrokerCheck since these records contain important information about complaints and specific actions about individual brokers and firms. According the FINRA Executive Vice President Derek Linden, investors "using BrokerCheck will encounter a more user-friendly interface that allows them to quickly find information that can help...

SEC Charges Municipal Issuer with Misleading Investors

(Nov 2013)

Yesterday, the Securities and Exchange Commission (SEC) charged the Greater Wenatchee Regional Events Center Public Facilities District, a group of nine cities and counties in Washington state, with misleading investors in connection with a bond offering meant to finance the construction of an event center. According to the press release, this is "the first time that the SEC has assessed a financial penalty against a municipal issuer."

In 2008, the municipal issuer issued nearly $42 million...

Study on Expungements Reveals Gap in Investor Protection

(Oct 2013)

We often encourage investors to visit the Financial Industry Regulatory Authority's (FINRA) BrokerCheck system to check the record of their broker. The broker's record contains information about their qualifications, employment and complaint history. The completeness of the information contained within the complaint history has recently been called into question by the Public Investors Arbitration Bar Association (PIABA).

Last week, PIABA released a study of over 1,600 arbitration cases filed...

FINRA's Conflict of Interest Report

(Oct 2013)

On Monday, the Financial Industry Regulatory Authority (FINRA) published their Report on Conflicts of Interest "to better understand how [a number of a large firms] manage conflicts of interest and to identify effective practices to manage those conflicts." The report details observations made in connection with FINRA's targeted examination letter in July 2012 as well as in-person meetings resulting from that letter.

The report makes it clear that a well-defined framework is necessary for...

FINRA Files Cease and Desist RE: John Carris Investments and Fibrocell Science

(Oct 2013)

Yesterday, the Financial Industry Regulatory Authority (FINRA) announced a temporary cease and desist order against "John Carris Investments, LLC (JCI) and its CEO, George Carris, to immediately halt solicitations of its customers to purchase Fibrocell Science, Inc. stock without making proper disclosures."

According to FINRA's complaint, JCI manipulated the stock price of Fibrocell (FCSC) through unauthorized purchases and so-called 'matched trades'. In particular, between May and September...

SEC Approves Municipal Adviser Registration Requirement

(Sep 2013)

Late last week, the Securities and Exchange Commission (SEC) voted to adopt rules requiring municipal advisors to register with the commission if the advisor "provides advice on the issuance of municipal securities or about certain 'investment strategies' or municipal derivatives." This permanent registration requirement was required by Dodd-Frank (Section 975) and replaces the temporary registration requirement previously implemented by the SEC.

The registration requirement is meant to...

69 Results

1
2
3
...
7
>