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ÍøÆØ³Ô¹Ï Blog

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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SEC Charges Unregistered Crypto Assets Advisor and Owner With Fraud

September 30th, 2022 at 11:09 AM
The Securities and Exchange Commission (SEC) has charged Chicago Crypto Capital along with its owner, Brian Amoah, and two former salesman, Darcas Young and Elbert Elliot, for allegedly defrauding investors in connection with an unregistered offering of crypto asset securities.
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SEC Charges Loop Capital Markets with Violating Municipal Advisor Registration Rule

September 29th, 2022 at 12:44 PM
The Securities and Exchange Commission has charged Loop Capital Markets for allegedly providing advice to a municipal entity without registering as a municipal advisor.
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SEC Charges Four Underwriters to Enforce Municipal Bond Disclosure Law

September 28th, 2022 at 1:33 PM
The Securities and Exchange Commission (SEC) has filed suit against Oppenheimer & Co. and additionally announced settlements with BNY Mellon Capital Markets, TD Securities, and Jefferies for failing to comply with municipal bond offering disclosure requirements. 
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FINRA Fines Financial Advisory Firm After Elderly Client Was Loaded Up on Margin

September 27th, 2022 at 1:04 PM
The Financial Industry Regulatory Authority (FINRA) has agreed to an $86,000 settlement with SagePoint Financial over allegations that the firm failed to effectively supervise its advisors’ use of margin in client accounts. 
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FINRA Fines Another Financial Advisory Firm Over GPB Private Placement Sales

September 26th, 2022 at 1:11 PM
The Financial Industry Regulatory Authority (FINRA) has issued a $60,000 fine to Sanctuary Securities, formerly known as David A. Noyes & Company, over improper sales of two GPB Capital private placement offerings.
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CFP Board Lifts Interim Suspension of Former UBS Advisor

September 23rd, 2022 at 1:30 PM
The Certified Financial Planner Board of Standards (CFP Board) has lifted an interim suspension it had imposed against a former UBS advisor after criminal fraud charges against him were recently dismissed.
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FINRA Penalizes Baird Over $100 Trading Commissions

September 22nd, 2022 at 2:15 PM
The Financial Industry Regulatory Authority (FINRA) has ordered Robert W. Baird & Co. to pay $461,481 plus interest due to allegations that the firm overcharged its clients on thousands of equity transactions for at least one year.
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FINRA Arbitrators Award Nearly $470,000 To Investors in UBS YES Product

September 21st, 2022 at 1:23 PM
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered UBS to pay nearly $470,000 to clients who invested in a complex options strategy, known as the YES or Yield Enhancement Strategy. 
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Jim, Stephany and the whole team were a God send.  ÍøÆØ³Ô¹Ï felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

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