The SEC, Securities and Exchange Commission, and FINRA, the Financial Industry Regulatory Authority Inc. warned investors yesterday that e-mail spam designed to dupe investors into “pump-and-dump” stock offerings is increasing. "Pump-and-dump" is defined as "an illegal practice in which investors attempt to artificially inflate the price of a stock by disseminating inaccurate or misleading information. […]

FINRA, the Financial Industry Regulatory Authority, will soon publish the latest in a series of warnings to investors, this time about the risks of alternative securities. Richard Ketchum, chairman and chief executive of the Financial Industry Regulatory Authority, told Reuters reporters and editors attending Reuters Global Wealth Management Summit that low interest rates and worries […]

FINRA, the Financial Industry Regulatory Authority announced that it fined two firms $2.15 million and ordered the firms to pay more than $3 million in restitution to customers for losses incurred from unsuitable sales of floating-rate bank loan funds. Floating-rate bank loan funds are mutual funds that generally invest in a portfolio of secured senior […]

A Tenant in Common, also known as a "TIC," is described as a way for two or more persons to own property together. Tenants in common may own equal or unequal shares of the property, and there are no rights of survivorship. When one of the co-owners dies, his or her share of the property […]

In a June 4, 2013, article from the Navajo-Hopi Observer, it was reported that the Hopi Tribe is suing Wachovia Bank Companies and two of its financial advisors for nearly $190 million in losses and penalties for what the tribe claims is investment fraud. The tribe claims that Wachovia Bank financial advisors, David Boling and […]

Michael Mendenhall (CRD #496391) a former broker with Colorado Financial Service Corporation and UVest Financial Services Group, Inc., was convicted of 25 counts of securities fraud and theft involving elderly victims, and sentenced to 30 years in prison and more than $1.4 million in restitution fees in Denver District Court. The Denver District Court Judge […]

Soreide Law Group is currently investigating the UBS Willow Fund. The allegations by clients involve unsuitability, misrepresentation and omission, breach of fiduciary duty, negligence, and failure to supervise. In 2000 UBS and Bond Street Capital formed the UBS Willow Fund, a hedge fund offered and sold by UBS to investors as a distressed debt fund. […]

The Securities and Exchange Commission (SEC), announced recently that they charged the CEO of Chicago-based investment advisory firm Simran Capital Management with lying to the California Public Employees' Retirement System (CalPERS) and other current and potential clients about the amount of money managed by the firm. On the SEC website it was reported that institutional […]

The SEC brought proceedings that arise out of a failure reasonably to supervise three registered representatives (the “Registered Representatives”) with a view to preventing and detecting their violations of federal securities laws by JP Turner. Between January 1, 2008 and December 31, 2009 (the “relevant period”), for the purpose of generating commission business, these registered […]