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Beverly Hills based securities lawyers have launched an extensive investigation into the sales practices of LPL Financial, LLC regarding the recommendation of non-traded REITs to their clients. This investigation is critical as it follows a recently filed complaint by the Commonwealth of Massachusetts Securities Division, which delves into similar non-traded REIT sales practices. The Massachusetts […]
A sole UBS trader used a combination of bribery, flattery and fictitious trading to rig the price of money over three years, regulatory filings show. The employee, only identified by regulators as “Trader A,” colluded with brokers, counterparts at other firms and his colleagues to influence yen Libor, which reflects how much banks charge each for […]
The Securities and Exchange Commission announced that on November 30, 2012, Timothy S. Durham, former CEO of Ohio-based Fair Finance Company (“Fair Finance”), was sentenced to 50 years in prison for orchestrating a $200 million scheme that defrauded more than 5,000 investors over almost five years. This extensive fraud devastated the lives of countless individuals […]
In coordination with the federal-state Residential Mortgage-Backed Securities Working Group, the Securities and Exchange Commission today charged J.P. Morgan Securities LLC and affiliated entities with misleading investors in offerings of residential mortgage-backed securities (RMBS). The firm agreed to a settlement in which it will pay $296.9 million. The SEC plans to distribute the money to […]
InvestmentNews reports a significant development in the financial industry: the Financial Industry Regulatory Authority Inc. (FINRA) has now opened its arbitration system to registered investment advisers (RIAs). This move marks a notable expansion of FINRA’s arbitration services, which have traditionally been utilized for resolving investor or industry complaints involving securities firms and broker-dealers. The announcement […]