Investors Indicate Alternative Investments Misrepresented Financial Industry Regulatory Authority (“FINRA”) reports troubling allegations of sales practice violations by securities broker Ray Gene Reese (CRD#: 1694620, Farmington, Missouri). Namely, five or more investors brought investment disputes to recover losses supposedly caused by Reese, who has worked for Money Concepts Capital Corp since 1997. Here’s more on […]

AUSTIN RICHARD DUTTON JR (AUSTIN R DUTTON JR) CRD#: 2739167   a broker from the Philadelphia area, was fined $200,000 by the Pennsylvania Department of Banking and Securities on Monday, July 24, 2017.  They cited alleged "dishonest or unethical practices in the securities business." The Financial Industry Regulatory Authority, Inc. (FINRA) reported on their BrokerCheck […]

Soreide Law Group, PLLC, (888) 760-6552, obtained he following information on FINRA’s website under “Disciplinary and Other FINRA Actions, September, 2013.” Matthew Francis Deline (CRD #4910379, Registered Representative, Encinitas, California) was barred from association with any FINRA member in any capacity. This sanction was based on FINRA's findings that Deline failed to appear and testify […]

Investors who contacted Soreide Law Group regarding this product have received quotes in the secondary market for as low as $5 per share for their CNL Lifestyle Properties shares. The Securities and Exchange Commission (SEC), has reported that CNL focused on lifestyle properties including: 23 ski and mountain lifestyle properties, 51 golf facilities, 52 senior […]

FINRA recently issued a notice providing guidance to its members on communications with the public regarding unlisted real estate investment programs, (REITs) and real estate direct participation programs. Disclosure: Firm communications containing descriptions of a real estate program must be consistent with the program’s current prospectus and must not imply an investment in the program […]

William Galvin, the secretary of the Commonwealth of Massachusetts, today announced settlements with five leading independent broker/dealers to make $8.6 million in restitution to investors and pay fines totaling $975,000 for the sales of nontraded real estate investment trusts (REITs). These five firms are: Ameriprise Financial Services Inc., with $2.6 million in restitution and a […]

FINRA, the Financial Industry Regulatory Authority Inc., is alerting broker-dealers to a number of shortcomings in how they communicate with investors about non-traded real estate investment trusts (REITs). According to FINRA, broker-dealers are falling short in a some areas, including distributing materials that contain misleading and inaccurate statements about the potentials of investing in illiquid […]

Last week LPL Financial Holdings agreed to pay $2.5 million in fines and restitution for improperly supervising brokers who sold non-traded real estate investment trusts. (Please note that LPL neither admitted nor denied wrongdoing.) These non-traded REITs are high-yielding and very popular. These non-traded REITs have jumped about 50% since 2009, to $65 billion. They […]

In an article in the Wall Street Journal, Feb. 11, 2013, Matthew Heimer writes that ever since the Federal Reserve started pushing interest rates to new lows, it’s been a common theme for retirees and other conservative investors accepting more risk to get a decent income from their portfolios. Last week LPL Financial Holdings agreed […]