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Robinhood and Other Brokerages Restrict Customers From Cashing In Profitable Put Options On Silicon Valley Bank and Signature Bank

March 16th, 2023 at 4:12 PM
Robinhood is restricting customers from cashing in on their bets against Silicon Valley Bank and Signature Bank even as put options appear to be in the money, according to several Robinhood customers on Twitter.
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KBS REIT III Urges Shareholders to Reject Mini Tender Offer

March 15th, 2023 at 3:59 PM
The board of directors for KBS Real Estate Investment Trust III Inc., a publicly registered non-traded real estate investment trust, has urged shareholders in a letter to reject unsolicited mini-tender offers from CMG Income Fund II LLC, CMG Liquidity Fund LLC, Blue River Capital LLC, and CMG Partners LLC.
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Stifel Files Suit Against Indiana Advisory Firm Co-Led by Former Vice President’s Brother

March 14th, 2023 at 4:22 PM
Stifel, Nicolaus & Co. has filed suit against one of its largest teams that is co-led by a brother of former Vice President Mike Pence for allegedly staging a “coup” when the team departed in favor of launching their own financial advisory firm, according to the complaint. 
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Illinois and Georgia Become Newest States to Adopt Best Interest Annuity Rules

March 13th, 2023 at 4:40 PM
Illinois and Georgia have become the 32nd and 33rd states to adopt rules mandating a best interest standard for annuity sales and recommendations following a model created by the National Association of Insurance Commissioners (NAIC). 
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Oil Entrepreneur Sues ÍøÆØ³Ô¹Ïlls Fargo and LPL For Mismanaging Securities-Based Loan Strategy

March 10th, 2023 at 2:22 PM
An oil refinery entrepreneur has filed suit against ÍøÆØ³Ô¹Ïlls Fargo Advisors and LPL Financial alleging that his advisor overleveraged his account with a $5 million securities-based loan as part of a strategy that failed amidst the Covid-19 pandemic.
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FINRA Bars High-Producing Beverly Hills Advisor

March 9th, 2023 at 5:40 PM
The Financial Industry Regulatory Authority (FINRA) has barred a Beverly Hills-based advisor, Antoine Souma, who allegedly participated in a private securities transaction in violation of industry rules.
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SEC Charges NBA Hall of Famer Paul Pierce For Improperly Promoting Crypto Security

March 8th, 2023 at 4:20 PM
The Securities and Exchange Commission (SEC) has charged NBA Hall of Famer Paul Pierce for promoting EMAX tokens, crypto securities sold by EthereumMax, on social media without disclosing the compensation he received from the company and for making misleading promotional statements regarding the tokens.
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KBS Growth & Income REIT Defaults on Commonwealth Building Loan

March 7th, 2023 at 3:03 PM
KBS Growth & Income REIT Inc., a publicly registered non-traded real estate investment trust, announced that the company has defaulted on the Commonwealth Building mortgage loan after failing to repay outstanding debt that was due on February 1, 2023, according to a filing with the Securities and Exchange Commission (SEC). 
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Hightower Fails To Stop Former Advisor From Establishing Competing Business

March 6th, 2023 at 3:03 PM
A former Alabama-based Hightower advisor has prevailed in court after the firm attempted to stop the advisor from establishing a competing firm. 
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FTX Investor Files Suit Against Sequoia Capital, Thoma Bravo, Paradigm

March 3rd, 2023 at 2:18 PM
A cryptocurrency investor has filed suit against private equity firms including Sequoia Capital, Thoma Bravo, and Paradigm for improperly touting the legitimacy of FTX. 
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