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SEC Accuses Investment Fund of Engaging in Deceptive Practices

August 29th, 2023 at 4:13 PM
The Securities and Exchange Commission (SEC) has brought settled charges against Summitcrest Capital Inc. and its principals, Johnny Tseng and Kevin Zhang, alleging that they engaged in an offering fraud via their real estate investment fund, SC Development Fund LLC.
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SEC Takes Action Against Advisor for Operating with Revoked Registration

August 28th, 2023 at 1:12 PM
The Securities and Exchange Commission (SEC) has barred an investment adviser representative from conducting business.
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Goldman Launches Initiative to Address Gaps Following Fed Oversight

August 24th, 2023 at 11:27 AM
Goldman Sachs Group Inc. is experiencing a hiring spree due to a new wave of regulatory scrutiny in the US.
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Damage Claims Exceed $24 Million for Stifel Advisor's Note Strategy

August 23rd, 2023 at 1:15 PM
Complaints against an advisor from Miami-based Stifel Nicolaus & Co. are increasing due to a structured note strategy, and additional million-dollar claims have been added to the ongoing concerns.
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FINRA Announces Enhancements to Advisor Expungement Process

August 22nd, 2023 at 1:43 PM
The Financial Industry Regulatory Authority (FINRA) has adopted several reforms to tighten the expungement process and has set an implementation date of October 16.
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SEC Uncovers

August 21st, 2023 at 3:51 PM
Wall Street regulators recently imposed hundreds of millions of dollars in penalties on broker-dealers. The penalties resulted from their failure to detect executives and traders using unofficial communication platforms such as WhatsApp.
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SEC Takes Action Against 11 Wall Street Firms for Record-keeping Violations

August 18th, 2023 at 11:31 AM
The Securities and Exchange Commission (SEC) has charged 11 firms with significant and longstanding failures to uphold electronic communication preservation regulations.
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SEC Charges Fund Administrator Over Ignoring Warning Signs

August 17th, 2023 at 11:44 AM
The Securities and Exchange Commission (SEC) has settled charges against Theorem Fund Services LLC (TFS) for failing to respond to red flags relating to the commission of fraud against a private fund and its investors.
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FINRA Bans Former Raymond James Advisor for Attempting to Deceive Investigators

August 16th, 2023 at 4:02 PM
The Financial Industry Regulatory Authority (FINRA) has barred a former Raymond James advisor. 
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Massachusetts Secretary of the Commonwealth Launches Investigation Into Advisors' Use of AI

August 15th, 2023 at 1:21 PM
Secretary of the Commonwealth, William Galvin, has announced an inquiry by his securities division to investigate the utilization of AI by companies in their interactions with Massachusetts investors.
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