BGC Financial, L.P. (CRD #19801, New York, New York) was censured and fined $40,000 by FINRA. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it permitted a disqualified individual to associate with the firm without regulatory approval. These findings stated that the firm […]

The Securities and Exchange Commission (SEC) charged investment management company OppenheimerFunds Inc. and its sales and distribution division on June 6th., 2012, with making misleading statements about two of its mutual funds  that struggled in the credit crisis in late 2008. The investigation found that Oppenheimer used derivative instruments known as total return swaps (TRS contracts) to […]

Yesterday, June 12, 2012,  The Securities and Exchange Commission (SEC) charged 14 sales agents who misled investors and illegally sold securities for a Long Island-based investment firm at the center of a reported $415 million Ponzi scheme.  The SEC alleges that the agents promised falsely that investor returns would be as high as 12 to 14 percent […]

Soreide Law Group, PLLC, is currently investigating IMH Secured Loan Fund sold by broker Randy Albers for possible claims. IMH Financial Corporation is a real estate finance company operating in the southwest United States. The company, formerly known as IMH Secured Loan Fund, LLC, focuses on the acquisition and origination of mortgage loans, mezzanine loans, other debt […]

 It was announced this week that the boards of NASDAQ OMX Group and The NASDAQ Stock Market are seeking a review by the Securities and Exchange Commission of a one-time voluntary accommodations program for members who were disadvantaged by technical problems that happened during the Facebook (FB) IPO on May 18. The technical problems have been remedied according to an […]

Soreide Law Group, PLLC, is currently investigating Tim Cerny and M & I Financial Advisors. Tim Cerny recently entered into a Letter of Acceptance, Waiver and Consent with FINRA, suspending him for 10 days and was fined $20,000. This action was related to the sales practices of the First Trust Income Allocation UIT (Unit Investment Trust) for a 66 year-old […]

The Financial Industry Regulatory Authority Inc. (FINRA) has recently hired Robert Colby, a former high-ranking SEC official, as the regulator’s top lawyer. Mr. Colby is a partner in the Washington office of Davis Polk & Wardwell LLP, and will join FINRA on June 18th. as the new chief legal officer. Grant Callery, current Finra general counsel, […]

On May 29th., 2012, the Securities and Exchange Commission (SEC) charged a Miami-based hedge fund adviser for deceiving investors about whether its executives had personally invested in a Latin America-focused hedge fund. According to the SEC’s investigation, they found that Quantek Asset Management LLC made misrepresentations about fund managers having “skin in the game” along with investors in the $1 […]

Soreide Law Group, PLLC, is currently allerting  all investors who suffered losses with  Brenda Eschbach of California.  Those investors may be able to recover their losses through a FINRA arbitration. The U.S. Securities and Exchange Commission (SEC) announced on February 14, 2012, it filed a civil injunctive action in the U.S. District Court for the Central District […]