In an effort to protect investors over the sale of private placements, the new Financial Industry Regulatory Authority (FINRA), Rule 5123, was effective on December 3, 2012. Under the new FINRA Rule 5123, FINRA member firms that sell an issuer’s securities in a private placement will be required, subject to certain exemptions (which include private […]

Jason T. Knapp, Corinth, New York, was arrested in connection with a nationwide Ponzi scheme, which allegedly involves hundreds of thousands of dollars. Knapp was a registered representative of Dawson James Securities of Boca Raton, FL, and had raised investment capital with a company call SteepleChase Group, making claims that returns on investments would be […]

As a general rule, investment performance for the last ten years has generally been mediocre. This is true not only for most individual investors, but also for many institutional investors and insurance companies. From early 2000 through 2007, the insurance industry sold a significant amount of variable annuity contracts that included a guaranteed minimum income […]

Recently, Morgan Keegan entered into a settlement with FINRA for conduct surrounding non traditional etfs sold to retail customers. The following is information from FINRA's website. Morgan Keegan & Company, Inc. (CRD #4161, Memphis, Tennessee) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $365,000. The firm consented […]

The Securities and Exchange Commission (SEC) announced that it obtained an emergency court order to halt an alleged Ponzi-like scheme operated by Small Business Capital Corp. and its principal Mark Feathers, who raised $42 million by selling securities issued by Investors Prime Fund LLC and SBC Portfolio Fund LLC - two mortgage investment funds they […]

Donald Dean Horras CRD# 1056123 Soreide Law Group is investigating claims on behalf of investors who were clients of Ft. Lauderdale broker, Donald Horras, who was with Morgan Stanley Smith Barney, and according to FINRA's BrokerCheck, is currently with Raymond James and Associates of Ft. Lauderdale. Allegedly, Donald Horras, made unsuitable recommendations to elderly customers […]

FINRA, the Financial Industry Regulatory Authority, is investigating independent broker-dealers that sold variable annuities with subaccounts invested in hedge funds that resulted in $18 million in client losses during the credit crisis writes Bruce Kelly in a recent article for InvestmentNews.com. FINRA has been investigating the sale of a variable annuity issued by Sun Life […]

Straccia v. Focus Capital, FINRA ID # 11-02737 (Manchester, NH, 11/27/2012) - A FINRA Arbitration Panel awarded $1.8 million in compensatory damages, interest, attorney fees and costs to a group of customers who complained about various trading strategies. Securities Lawyer, Lars Soreide, of Soreide Law Group, represents clients nationwide before FINRA. If you or a […]

Securities Lawyer, Lars Soreide, of Soreide Law Group, is investigating the following investments. If your stock broker/financial advisor recommended the following investments you may be able to pursue a claim through a FINRA arbitration. Many of the brokerage firms that sold these investments carry errors and omissions insurance which may offer some level of redress […]