When you have a FINRA arbitration case, it can be confusing if you are not familiar with the process. Since arbitration differs from a traditional court hearing, you need an attorney on your side who not only understands the FINRA arbitration process, but who has also helped clients obtain favorable outcomes. If you have an…
Continue reading ›If you are the target of an investigation by the Securities and Exchange Commission, do not assume it will go away on its own. Instead, it may linger for months or years, all the while you face the possibility of fines, loss of license and your job or business, and the possibility of criminal charges…
Continue reading ›When a registered representative leaves a broker-dealer, there are many different service and compliance issues that emerge. There are also competing interests between the firm and the representative, each of whom want to keep the customer’s business. At the same time, the customer wants to maintain steady and uninterrupted service. FINRA Regulatory Notice 19-10 sets…
Continue reading ›Joseph Kim, a young Chicago trader just pleaded guilty to stealing $3 million worth of cryptocurrency from the firm that employed him and investors. The case, which involves charges of wire fraud, is the first criminal prosecution for cryptocurrency related violations in the city. The 23-year-old trader who appeared before Judge Andrea Wood, could potentially…
Continue reading ›If you exchanged an official email with any SEC employee recently, you have seen the banner for Howeycoins Travel Network. And if you like to get in on a profitable deal, you probably thought, “well, if the SEC is endorsing them, these guys must be legit.” Perhaps you clicked on the banner to see what…
Continue reading ›Ever since it was implemented, brokers have relied on the Protocol for Broker Recruiting to be able to take some of their clients with them when they leave a firm, but a recent ruling by a state court in Georgia might jeopardize the Protocol’s protections. The Appeals court’s ruling concluded the case against four former…
Continue reading ›The head of Massachusetts’ state securities regulatory body, Secretary of the Commonwealth William F. Galvin, issued a public statement announcing an inquiry into the practices of some of the top local broker-dealers related to private placement investments. These funding rounds of securities, which are not sold through a public offering, but rather, presented to a…
Continue reading ›FINRA has announced it will increase its scrutiny of the cryptocurrency market. As several regulatory bodies endeavor to establish their jurisdiction over the crypto space, FINRA will now boost its oversight of registered firms’ participation in its burgeoning market. In a new regulatory notice, the self-regulatory organization asked its 3,700 member firms to notify it…
Continue reading ›Wells Fargo will pay $480 million to resolve fraud and insider trading allegations brought in a class action in California. According to the plaintiffs, top executives at the bank engaged in insider trading after employees were directed to create millions of accounts under customer names, without the customers’ consent. While litigation in California state court…
Continue reading ›Jehu Hand, a California-based attorney has been found guilty of securities fraud and is now awaiting sentencing. Following his trial, which took place in Boston, the defendant could be facing up to eight years in prison. The federal jury found that Hand conspired with his two brothers to run a pump-and-dump scheme by falsifying documents.…
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