Soreide Law Group is currently investigation the UBS Willow Fund. This distressed debt hedge fund was formed in 2000. In October, 2012, its investors were informed that the fund would be liquidated after having sustained substantial losses. Willow Fund’s net asset value declined over $300 million. In December, 2012, a class action lawsuit was filed […]

The Financial Industry Regulatory Authority Inc. (FINRA) released its 2013 regulatory and examination priorities letter. The annual letter alerts the broker-dealer community to what Finra examiners will be looking for in the coming year. FINRA will continue to watch yield-oriented products this year but FINRA also will be focusing on business development companies (BDCs), exchange-traded […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.” Kenneth Andrew Mauchin (CRD #2366345, Registered Principal, Sanford, Florida) was named a respondent in a FINRA complaint alleging that he misappropriated $23,750 from elderly customers’ accounts by converting their funds to cashier’s checks and depositing those checks into a bank […]

Moshar v. Wells Fargo, FINRA ID # 11-00556 (Los Angeles, CA, 1/9/2013) A couple was recently awarded $1,333,300 in compensatory damages through a FINRA arbitration. The claimants charged Wells Fargo with the following: breach of fiduciary duty, breach of written contract, fraud by misrepresentation and omission, failure to supervise and control, and violation of federal […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.” Steven Jay Oshinsky (CRD #2339197, Registered Principal, Boca Raton, Florida) was suspended from association with any FINRA member in any capacity for one year. Without admitting or denying FINRA's allegations, Oshinsky consented to the described sanction and to the entry […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.” William Earl Manley (CRD #1177744, Registered Representative, Sarasota, Florida) was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Manley consented to the described sanction and to the entry of findings that he […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.” David Scott Isolano (CRD #2504880, Registered Principal, Harrisburg, Pennsylvania) was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Isolano consented to the described sanction and to the entry of findings that he […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.” John Boyd Dexter (CRD #1354376, Registered Principal, North Miami, Florida) was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Dexter consented to the described sanction and to the entry of findings that […]

The Securities and Exchange Commission, also known as the 'SEC,' has filed 734 enforcement actions the fiscal year that ended Sept. 30, 2012. That is one less than last year’s record of 735. The SEC’s report should remind investors that investment fraud is still a threat to investors. The SEC filed 147 enforcement actions in […]