CALL TOLL FREE
800-760-0912

Category

SEC-FINRA Defense Blog
When I was a young attorney in the Enforcement Division of the Securities and Exchange Commission (SEC) back in the mid-to-late 1990s, the SEC did not have a formal cooperation program. There was thus no official means by which the SEC could either induce individuals to cooperate during the course of an investigation, or reward...
Read More
The Securities and Exchange Commission recently announced a 7% increase in its enforcement actions for fiscal year 2015 over the previous year. The SEC filed 807 enforcement cases in 2015, up from 755 the prior year, and brought claims for disgorgement and civil penalties totaling approximately $4.2 billion, up from $4.16 billion in 2014. Of...
Read More
The Securities and Exchange Commission recently charged two firms for acting as unregistered brokers in connection with $79 million in investments made by foreigners seeking United States residency through the EB-5 Immigrant Investor Program. The SEC sued Ireeco LLC, and its successor Ireeco Limited, in an administrative proceeding seeking cease-and-desist relief, as well as disgorgement...
Read More
FINRA has considerably ramped up its enforcement efforts as of late to target those registered representatives who have failed to make the necessary disclosures on the Form U-4 with respect to the existence of tax liens, unsatisfied judgments, bankruptcies and “compromises with creditors.” Specifically, Questions 14K and 14M on the Form U-4 require a registered...
Read More
In 2014, the U.S. Securities and Exchange Commission, SEC, enjoyed an “unprecedented year” in enforcement cases, not only in the numbers brought, but also in the types of cases investigated and filed. The SEC’s enforcement division brought 755 cases and collected an agency record $4.1 billion in 2014.  In contrast, the SEC brought 686 enforcement actions...
Read More
The Securities and Exchange Commission, SEC, is increasingly receding from its historical position of allowing companies and individuals to settle SEC district court and SEC administrative proceedings on the basis of neither admitting nor denying the Commission’s allegations of wrongdoing. Instead, the SEC, through public pronouncements of its Chairman Mary Jo White, has made clear...
Read More
You recently left your broker-dealer firm under a cloud with a Form U-5 reflecting that you were terminated for purportedly “violating firm policy with respect to the exercise of discretion in a client’s account.” Now, out of a job and having to contend with damaging language on your Form U-5, to make matters worse you...
Read More
The United States Securities and Exchange Commission recently charged several Chief Executive Officers and their companies, along with three penny stock promoters, with securities fraud violations for their alleged offer of illicit kickbacks and market manipulation schemes in connection with certain microcap stocks. One case involved a scheme to make undisclosed bribes to a stock...
Read More
It seems like just another day, until you find an unexpected surprise in the mail – a subpoena from the United States Securities and Exchange Commission (SEC). Is this a joke? Mistaken identity? No joke, no mistake – you have received a bona fide, legally enforceable investigative SEC subpoena that calls for you to produce...
Read More
Although brokerage firms win the vast majority of their FINRA promissory note and employee forgivable loan (EFL) cases — often obtaining judgments for the outstanding loan balance, interest and attorney’s fees — every now and then the underdog advisor prevails. In one such rare example, Merrill Lynch filed a FINRA arbitration promissory note claim against...
Read More
1 5 6 7 8 9