Soreide Law Group, PLLC, has filed ten FINRA arbitrations against Rockwell Global Capital, LLC, for their involvement in the sale of the Simply Fit Beverage Company's private placement. Rockwell Global Capital acted as the placement agent for the $3,000,000 offering of Simply Fit. Simply Fit was a beverage company located in Pompano Beach, Florida. Most all […]

WASHINGTON — It was announced on FINRA's website that The Financial Industry Regulatory Authority (FINRA) has fined Southwest Securities, Inc., of Dallas, $650,000 for deficiencies in due diligence, risk assessment and written supervisory procedures that permitted one of its correspondent firms, Cutler Securities, to create risk for Southwest through improper short sales. FINRA also required Southwest […]

Soreide Law Group, PLLC, has been investigating Erickson Retirement Community STAMPS (Subordinated Tax Advantaged Mezzanine Put Securities)  sold by B.C. Ziegler and Company in particular or other brokers. Erickson Retirement Communities develops and manages retirement communities for middle-income people in the United States. Erickson Retirement Communities, LLC  was formerly known as Senior Campus Living, LLC. Erickson has retirement communities in […]

WASHINGTON — In an article posted on FINRA's website it was announced that the Financial Industry Regulatory Authority (FINRA) has fined Santander Securities of Puerto Rico $2 million for deficiencies in its structured product business, including unsuitable sales of reverse convertible securities to retail customers, inadequate supervision of sales of structured products, inadequate supervision of accounts […]

WASHINGTON — From the FINRA Newsroom, it was announced that The Financial Industry Regulatory Authority (FINRA) has filed a complaint against David Lerner & Associates, Inc. (DLA), of Syosset, NY, charging the firm with soliciting investors to purchase shares in Apple REIT Ten, a non-traded $2 billion Real Estate Investment Trust (REIT), without conducting a […]

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wedbush Securities and one of its former brokers to pay $2.9 million in damages and fees to an elderly investor who allegedly fell victim to a faulty investment scheme. The founder Edward Wedbush, and broker Debbie Michelle Saleh were ordered to pay $2,865,885 in damages. The […]

In a report from the United States Securities and Exchange Commission's website, it was announced on August 10, 2011, the SEC charged Stifel, Nicolaus & Co., Inc., a St. Louis-based broker-dealer, and former Stifel Senior Vice President David W. Noack with defrauding five Wisconsin school districts by selling them unsuitably risky and complex investments funded largely […]

 Josh Funk, a business writer for the AP wrote that  TD Ameritrade has agreed to a $10 million settlement for failing to properly supervise representatives who misled investors about the safety of a money-market mutual fund that "broke the buck" in 2008, the Securities and Exchange Commission said. Funk writes that TD Ameritrade Holding Corp. customers who still hold […]

Darla Mercado of InvestmentNews.com, recently wrote that Finra's variable annuity (VA) suitability rule should be old news to broker-dealers, but firms that want to avoid an arbitration land mine ought to review their procedures. Mercado writes this warning came directly from Andrew A. Favret, associate vice president and regional chief counsel at the Financial Industry Regulatory […]