SEC News
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- SEC Names Keith F. Higgins as Director of Division of Corporation Finance May 15, 2013FOR IMMEDIATE RELEASE2013-89 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today named Keith F. Higgins as the new director of the agency’s Division of Corporation Finance. Mr. Higgins comes to the SEC from the law firm of Ropes & Gray LLP where he is a partner in its Boston office with 30 years of experience advising public com […]
- SEC Names Lona Nallengara as Chief of Staff May 15, 2013FOR IMMEDIATE RELEASE2013-88 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today announced that Lona Nallengara has been named the agency’s chief of staff. Mr. Nallengara came to the SEC in March 2011 and served as deputy director for legal and regulatory policy in the Division of Corporation Finance until he was appointed in Decemb […]
- SEC Charges China-Based Executives in Scheme to Overstate Revenues and Divert Money for Personal Use May 15, 2013FOR IMMEDIATE RELEASE2013-87 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today charged husband-and-wife executives at a China-based company with engaging in a scheme to overstate the company’s revenues and divert proceeds from a securities offering for their personal use. Additional Materials SEC Complaint The SEC alleges that RIN […]
- SEC, FINRA Issue Investor Alert On Pension or Settlement Income Streams May 9, 2013FOR IMMEDIATE RELEASE2013-86 Washington, D.C., May 9, 2013 — The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today issued an investor alert entitled Pension or Settlement Income Streams – What You Need to Know Before Buying or Selling Them. The investor alert informs investors about the risks involved when selli […]
TAG | NFA Fines Vision
May/12
30
Attention Vision Financial Markets Investors
Comments off · Posted by Securities Lawyer in FINRA
Soreide Law Group, PLLC, has been contacted recently by several clients that have complained of a high level of trading activity by Vision Financial Markets.Vision Financial Markets, a futures commission merchant (FCM) and introducing broker (IB), is registered with the NFA. Vision Financial Markets is a Futures Commission Merchant and Commodity Pool Operator with headquarters in New York City and branch offices in Chicago, Illinois and Stamford, Connecticut.
In May, 2011, the National Futures Association (NFA) levied a fine of $500,000 against Vision. The decision, issued by NFA’s Business Conduct Committee, is based on a Complaint filed in May, 2011 against Vision and its president and senior vice president, Howard M. Rothman and Michael P. Doherty, respectively and a settlement offer submitted by them.Last year the committee found that Vision, Rothman and Doherty failed to diligently supervise five of Vision’s Guaranteed Introducing Brokers (GIBs): 20/20 Trading Company, Statewide FX, Inc., Vista Trading Advisors, Inc., Investors Trading Institute, and Direct Futures LLC.
In 2010, NFA Complaints against these GIBs included allegations of recommending trades that maximized commissions without regard for the best interest of their customers, making deceptive sales solicitations and using deceptive promotional materials.
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients nationwide.
For a free consultation with an attorney, please call 888-760-6552, or visit our website at: http://www.securitieslawyer.com.
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