In an April 4th., 2012, article from InvestmentNews.com, Liz Skinner writes that brokerage firm David Lerner Associates Inc. was ordered to pay more than $3.7 million in fines and restitution for overcharging retail customers on sales of more than 1,500 municipal bonds and 1,700 collateralized-mortgage-obligation transactions. The Financial Industry Regulatory Authority Inc. (FINRA) hearing panel found the […]

In a February 29, 2012, article from BrowardBulldog.org, Ann Henson Feltgen writes that a Broward County probate judge has nipped an alleged attempt to redirect a $3 million inheritance intended to care for four beloved show dogs following their owner’s death. Judge Mark Speiser threw out financial advisor Charles E. Bishop’s claim as inheritor of the estate […]

In an April 2nd., 2012, article on ThinkProgress.com, Travis Waldon writes that former Goldman Sachs trader Greg Smith publicly resigned three weeks ago, decrying the firm’s “toxic and destructive" culture in a scathing New York Times editorial. But it isn’t just traders at America’s biggest investment bank that view their clients as “muppets,” at least […]

In a March 30, 2012, article from InvestmentNews.com, Bruce Kelly writes that another major nontraded real estate investment trust has seen a sharp drop in its value — but is also stopping paying distributions to investors. The KBS Real Estate Investment Trust Inc., or KBS REIT I, told investors Monday it was cutting the value […]

THE FOLLOWING IS AN ARTICLE FROM THE SEC'S WEBSITE: "The U.S. Securities and Exchange Commission announced today that the United States District Court for the District of Colorado entered an Order amending a February 11, 2011 Final Judgment wherein Greenberg, without admitting or denying the Commission’s allegations, consented to the entry of a Final Judgment […]

The following article appeared on the SEC's website: "The Securities and Exchange Commission announced that on February 2, 2012, United States District Judge William C. Caldwell of the United States District Court for the Middle District of Pennsylvania entered an order imposing a $2,500,000 civil penalty jointly and severally against defendants Robert Glenn Bard and […]

The following information is from FINRA's website under "Disciplinary Actions, March, 2012:   Spartan Securities Group, LTD (CRD #104478, Clearwater, Florida)   submitted a Letterof Acceptance, Waiver and Consent in which the firm was censured, fined $52,500 and required to revise its WSPs regarding its supervisory system, procedures and qualifications;order handling; best execution; anti-intimidation/coordination; trade […]

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, March, 2012.”   Council (NAC) imposed the sanctions following appeal of an Office of Hearing Officers (OHO) decision. The sanctions were based on findings that Beloyan, acting on the firm’s behalf, drafted and distributed emails in which he recommended the purchase of securities, and those recommendations […]

THE FOLLOWING ARTICLE WAS OBTAINED FROM THE SEC'S WEBSITE: "On March 1, 2012, a federal judge ordered the former CEO of Brookstreet Securities Corp. to pay a maximum $10 million penalty in a securities fraud case related to the financial crisis. In December of 2009, the U.S. Securities and Exchange Commission filed a civil injunctive […]