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Massachusetts Initiates Sweep of Single-Stock ETFs

September 1st, 2022 at 3:24 PM
Massachusetts’ head securities regulator, William Galvin, has initiated a sweep of complex single-stock exchange-traded fund (ETF) offerings that were recently introduced to the public. 
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Former Advisor Pleads Guilty To Fraudulently Obtaining Paycheck Protection Program Loans

August 31st, 2022 at 1:57 PM
A former Florida-based advisor, Gregory Blotnick, has pleaded guilty to fraudulently obtaining at least $4.6 million in Paycheck Protection Program (PPP) loans administered by the Small Business Administration (SBA) during the pandemic. 
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SEC Charges 18 Defendants in International Scheme to Manipulate Stocks

August 30th, 2022 at 11:34 AM
The Securities and Exchange Commission (SEC) has charged eighteen individual and entity defendants for their roles in orchestrating a scheme in which numerous online retail brokerage accounts were hacked and fraudulently used to buy microcap equities in an effort to manipulate stock prices and trading volumes.
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CFP Board Suspends Three Advisors

August 29th, 2022 at 1:26 PM
The Certified Financial Planner (CFP) Board of Standards has suspended three advisors from utilizing the CFP mark after two were charged with felonies and one faces civil fraud charges filed by the Securities and Exchange Commission (SEC). 
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SEC Proposes Joint Amendments to Form PF

August 26th, 2022 at 2:00 PM
The Securities and Exchange Commission (SEC) is determining whether procced with joint amendments with the Commodity Futures Trading Commission (CFTC) to Form FP, a reporting tool utilized by the SEC to protect retails investors and oversee systemic risk.
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SEC Charges Angel Oak Capital Advisors with Misleading Investors

August 25th, 2022 at 2:15 PM
The Securities and Exchange Commission (SEC) has charged Angel Oak Capital Advisors and its manager Ashish Negandhi for misleading investors regarding the firm’s fix-and-flip loan securitization’s delinquency rates. 
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FINRA Warns Member Firms of E-Signature Violations

August 24th, 2022 at 1:35 PM
The Financial Industry Regulatory Authority (FINRA) has issued a regulatory notice warning financial advisor firms to closely monitor how advisors utilize third-party digital signature platforms amidst a spike in forgery and falsifications.
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Former Advisor Receives Nearly 22 Years in Prison Over Fake-Annuity Scheme

August 23rd, 2022 at 2:37 PM
A former Ohio-based advisor has received a 22-year prison sentence after being convicted of misappropriating at least $9.3 million from clients.
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ÍøÆØ³Ô¹Ïlls Fargo and Former Advisor Ordered to Pay Customers In Churning Dispute

August 22nd, 2022 at 1:39 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered ÍøÆØ³Ô¹Ïlls Fargo and a former advisor to pay a Pennsylvania couple at least $731,000 over a churning dispute that last nearly five years. 
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FINRA Fines J.P. Morgan Over Failure to Supervise a Former Advisor

August 19th, 2022 at 1:30 PM
The Financial Industry Regulatory Authority (FINRA) has fined J.P. Morgan $200,000 for failing to reasonably supervise a former advisor who made several unsuitable trades in his wealthy grandmother’s account. 
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If the regulators are after you, and are trying to make a case against you, and you are going to contest their allegations against you, make sure you have the best securities industry defense lawyers, ÍøÆØ³Ô¹Ï Firm. My case was spun into a combination of penalties including fines, cash settlements, CE courses and suspension. They were the best I have seen in action. When all was said and done, they had done their magic, my situation was negotiated and settled with a simple "letter of caution" and a case closed without action. It is the most important legal business decision you will ever make, make it ÍøÆØ³Ô¹Ï.

Rick R.

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