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January 23, 2013
FINRA to Focus on BDCs and Leveraged ETFs in 2013

The Financial Industry Regulatory Authority Inc. (FINRA) released its 2013 regulatory and examination priorities letter. The annual letter alerts the broker-dealer community to what Finra examiners will be looking for in the coming year. FINRA will continue to watch yield-oriented products this year but FINRA also will be focusing on business development companies (BDCs), exchange-traded […]

January 23, 2013
FINRA Awards Investor $1.3mill From Sale of ETF's by Wells Fargo

Moshar v. Wells Fargo, FINRA ID # 11-00556 (Los Angeles, CA, 1/9/2013) A couple was recently awarded $1,333,300 in compensatory damages through a FINRA arbitration. The claimants charged Wells Fargo with the following: breach of fiduciary duty, breach of written contract, fraud by misrepresentation and omission, failure to supervise and control, and violation of federal […]

January 22, 2013
Boca Raton Rep Suspended by FINRA

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.” Steven Jay Oshinsky (CRD #2339197, Registered Principal, Boca Raton, Florida) was suspended from association with any FINRA member in any capacity for one year. Without admitting or denying FINRA's allegations, Oshinsky consented to the described sanction and to the entry […]

January 22, 2013
Miami Rep Barred by FINRA

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.” John Boyd Dexter (CRD #1354376, Registered Principal, North Miami, Florida) was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Dexter consented to the described sanction and to the entry of findings that […]

January 14, 2013
SEC's Statistics Positive News for Investors

The Securities and Exchange Commission, also known as the 'SEC,' has filed 734 enforcement actions the fiscal year that ended Sept. 30, 2012. That is one less than last year’s record of 735. The SEC’s report should remind investors that investment fraud is still a threat to investors. The SEC filed 147 enforcement actions in […]

January 10, 2013
FINRA Fines Total Over $68 Million in 2012

FINRA, the Financial Industry Regulatory Authority levied a total of $68 million in civil fines during 2012, according to statistics released by FINRA on Tuesday, January 8, 2013. This was slightly less than $71.9 million imposed by FINRA in 2011. The high-profile cases against large brokerages accounted for about one-third of total fines in 2012. […]

January 8, 2013
Did You Invest in Private Placement Funds with Gramercy Securities?

Securities Lawyer, Lars Soreide, of Soreide Law Group, is currently investigating Gramercy Securities, Inc. This brokerage has been alleged to have placed unsophisticated investors' money into unsuitable investments. There have been claims, for example, of a recent widow losing her entire net worth by investing in risky private placements. Some of these risky private placements […]

January 7, 2013
Broker Jason T. Knapp Arrested in Alleged Ponzi Scheme

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 […]

December 19, 2012
Were You a Client of Gary Harrison Lane?

Securities Attorney, Lars Soreide, of Soreide Law Group was recently quoted in an article from the Reno Gazette-Journal, written by Jaclyn O’Malley regarding former broker Gary Harrison Lane. The quote reads as follows: "Florida securities attorney Lars Soreide said Tuesday he has represented a few clients who have recently settled with broker firms connected to […]

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