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FINRA Suspends Former Morgan Stanley Advisor Over Unauthorized Trading and Texting

October 14th, 2022 at 1:05 PM
The Financial Industry Regulatory Authority (FINRA) has issued a two-month suspension and a $10,000 fine to a former Morgan Stanley advisor to settle claims pertaining to unauthorized trading and improper use of a personal phone to text clients. 
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SEC Charges Real Estate Developer with Fraud

October 13th, 2022 at 12:57 PM
The Securities and Exchange Commission (SEC) has charged a Texas-based real estate developer and two other individuals for operating a fraudulent real estate investment offering that generated at least $26 million from nearly 100 investors. 
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SEC Bars Merrill Manager For Defrauding Client

October 12th, 2022 at 3:46 PM
The Securities and Exchange Commission (SEC) has barred an Annapolis, Maryland-based Merrill Lynch managed for defrauding a client from 2016 to 2020. 
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SEC Fines Raymond James $500,000 Over Supervisory Failures

October 11th, 2022 at 2:04 PM
The Securities and Exchange Commission (SEC) has imposed a $500,000 fine on Raymond James over its alleged supervisory failures related to a former Tennessee-based advisor. 
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SEC Charges Former Business News Commentator with Misappropriation of Client Funds

October 10th, 2022 at 2:59 PM
The Securities and Exchange Commission (SEC) has charged James McDonald and his financial advisory firm, Hercules Investments, in connection with two fraudulent securities offerings. 
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SEC Charges Chicago Advisor Who Allegedly Misappropriated $683,000 of Investor Funds

October 7th, 2022 at 1:08 PM
The Securities and Exchange Commission (SEC) has charged a Chicago-based advisor who allegedly misappropriated $683,000 of investor funds. 
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Waddell & Reed Ordered to Pay $776,000 Over Reverse Churning

October 6th, 2022 at 2:48 PM
Waddell & Reed has agreed to pay nearly $776,000 to settle charges of misconduct over one of its wrap fee programs, according to the Securities and Exchange Commission (SEC). 
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Sparkster Ordered to Pay $35 Million Over Unregistered Crypto Asset Offering

October 5th, 2022 at 1:06 PM
The Securities and Exchange Commission (SEC) has issued a cease-and-desist order against Sparkster and its CEO, Sajjad Daya, over an unregistered crypto asset offering that spanned from April 2018 through July 2018.
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Former Morgan Stanley Advisor Pleads Guilty to $7 Million Ponzi Scheme

October 4th, 2022 at 1:06 PM
A former North Carolina-based Morgan Stanley advisor has pleaded guilty to two felony counts in connection with a Ponzi scheme he operated.
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SEC Charges Real Estate Investment Firm and Owner Over $100 Million Fraud

October 3rd, 2022 at 1:29 PM
The Securities and Exchange Commission has charged Secured Income Group, Inc. along with its owner, Max McDermott, and its head investor relations representative, Stacey Porter, with fraud in a securities offering. 
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