The following information is from FINRA's website under, "Disciplinary and Other FINRA Actions, May, 2012." Philip Christopher Crescimanno (CRD #4412658, Registered Representative, Land O’Lakes, Florida) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Crescimanno consented to the described […]

John Brian Busacca III (CRD #2302780, Registered Principal, Orlando, Florida) was fined $30,000 and suspended from association with any FINRA member in any principal capacity for six months. The SEC sustained the sanctions following appeal of a NAC decision. The U.S. Court of Appeals denied Busacca’s petition for review.   The sanctions were based on […]

In an article by Bruce Kelly of InvestmentNews.com, from May 10, 2011, he writes that the largest nontraded real estate investment trust in the industry, Inland American Real Estate Trust Inc., is under investigation by the Securities and Exchange Commission for potential violations of federal securities laws regarding its fees and administration. The SEC's investigation […]

AXA Advisors, LLC, without admitting or denying the findings, prior to a regulatory hearing and without an adjudication of any issue, submitted a Letter of Acceptance, Waiver and Consent (“AWC”), to the Financial Industry Regulatory Authority (FINRA)which FINRA accepted.  AXA Advisors, LLC, Respondent (AWC 2009020149901, March 13, 2012).  AXA Advisors, LLC employs aproximately 5,800 registered representatives at […]

Today, in a Wall Street Journal article, Craig Karmin writes that the Securities and Exchange Commission (SEC), is currently investigating an $11 billion real-estate company for potential violations of federal securities laws, looking at the business of real estate investment trusts that aren't traded on exchanges. They are looking at the activity of Inland American Real Estate Trust to […]

Soreide Law Group, PLLC, is investigating claims against brokerages who sold their clients CIP Leveraged Fund Advisors, LLC. These investments may have been misrepresented to a more conservative client, as safe or low risk. Also, it is alleged that some brokers may have over-concentrated CIP in their clients' portfolios. CIP Leveraged Fund Advisors, LLC, also […]

Soreide Law Group, PLLC,  is currently investigating potential claims for the  investors of JP Morgan's Chase Private Client Group who were sold in-house proprietary products such as the Chase Strategic Portfolio.   Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients nationwide. If you or a family member have sustained investment losses […]

It was recently announced that the Royal Bank of Canada (RBC) will repay investors in Massachusetts, $2.9 million on losses from leveraged and non-leveraged exchange-traded funds, also know as ETFs.  This is just another example of the losses experienced, and now the crackdown on these very volatile funds. Massachusetts' top securities regulator, William Galvin, said in […]

Soreide Law Group, PLLC, is currently investigating the sale of promissory notes to investors by their broker/dealers. Again, many conservative investors have said they were sold these notes as “low risk” when in fact, they were highly risky or fraudulent. These investments also paid significantly higher fees to the brokers, making them much more motivated […]