The Florida Office of Financial Regulation recently filed a complaint in state administrative court against Regent Investment Advisors and Timothy C. Mingo, president and chief compliance officer of Aventura, Florida. They are seeking civil penalties and fines for allegedly overcharging clients and issuing false financial statements. The Office of Financial Regulation (OFR) has proposed a […]

It was announced that the Securities and Exchange Commission (SEC) issued a Wells notice to UBS regarding secondary market trading of closed-end funds sold in Puerto Rico in 2008 and 2009.  USB sold $2.9 billion in bonds in 2008. UBS was a former financial adviser to Puerto Rico's Employees Retirement System that provides pensions for […]

In a September 7, 2011 article in InvestmentNews.com, Bruce Kelly writes that the Financial Industry Regulatory Authority Inc. (FINRA), living up to its warnings of this year, said today that it has fined several firms for overcharging for postage and handling. The article states that in May, Finra chief executive Richard Ketchum warned an audience of brokerage […]