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David R. Chase P.A.
Did You Invest in 1st Global Capital Through a Stockbroker or Financial Advisor and Have Concerns About Your Investment? 1st Global Capital filed for Chapter 11 Bankruptcy after the Securities and Exchange Commission (SEC) launched an investigation into the possible: (1) sale of unregistered securities, (2) sales of securities by unregistered brokers, and (3) fraud in...
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In a high-profile enforcement action, the Securities and Exchange Commission charged Congressman Christopher Collins, his son and his son’s girlfriend’s father with illegal insider trading.  In a coordinated move, the U.S. Attorney’s Office for the Southern District of New York filed parallel criminal charges against all three arising out of the same underlying illicit securities trading. In...
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The Securities and Exchange Commission (SEC) recently charged a former Equifax Chief Information Officer of a U.S business division with engaging in illegal insider trading ahead of Equifax’s September 2017 announcements of a massive data breach. The SEC’s complaint alleged that Jun Ying, who was next in line to become Equifax’s Global CIO, used confidential,nonpublic...
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FINRA recently censured Huntleigh Securities Corporation and ordered it to pay $98,252.33, plus interest, in restitution to customers pursuant to an AWC (Acceptance, Waiver and Consent) settlement. The firm was also required to review and amend, as necessary, its written supervisory procedures (WSPs) and compliance policies. With neither admitting nor denying the findings, the firm...
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FINRA has censured and imposed a $250,000 fine upon City National Securities, Inc., a registered broker-dealer located in Beverly Hills, California. With neither admitting nor denying the findings contained in the FINRA AWC (Acceptance, Waiver and Consent), the firm consented to findings that it failed to supervise certain registered representatives to ensure their compliance with FINRA rules involving outside business activities, private securities...
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More SEC Adviser Exams Projected for 2017 and 2018 An article published in InvestmentNews on November 4, 2017, reported that the Chairman of the Securities and Exchange Commission (SEC), Jay Clayton, intends to increase the number of financial adviser examinations conducted by the SEC each year, thus enabling the securities law enforcement agency’s examination division...
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How to Respond to a SEC Wells Notice The Securities and Exchange Commission’s (SEC) Division of Enforcement is responsible for enforcing the federal securities laws. The Enforcement Division performs this function through its investigations and, if evidence is developed in the investigation that would support filing charges, through the SEC’s filing of cases either in...
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Sonya Camarco (CRD #2427529), a longtime Colorado Springs resident and former Broker with LPL Financial LLC (CRD#6413) has been the subject of a SEC requested asset freeze. The SEC complaint that alleged Camarco had, over the past 13 years, systematically defrauded and stolen money from her client’s investment accounts. The SEC further alleged that Sonya...
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The Law Firm of David R Chase is investigating Ohio-based Cetera Advisors(CRD#10299) broker David Joseph Schmerber (CRD#2093918) after a customer filed a $1,000,000.00 million dollar FINRA arbitration against him. According to Schmerber’s FINRA BrokerCheck report, the claimants filed a FINRA arbitration complaint in March 2017 against Schmerber alleging he invested their accounts in various complex...
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 The Law Firm of David Chase is reviewing claims of unsuitable trades and breach of fiduciary duty by former New York based-based Capitol Securities Management INC. (CRD #14169) broker Andrew Bennett Kramer (CRD#1896558) after FINRA bared him permanently. According to Kramer’s FINRA BrokerCheck report, FINRA suspended Kramer in April of 2017 after he failed to...
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