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June 19, 2012
Brent Robert Bishop, Tulsa, Barred by FINRA

Brent Robert Bishop (CRD #2348912, Registered Principal, Tulsa, Oklahoma) has been barred from association with any FINRA member in any capacity and ordered to pay restitution in the total amount of $58,000, plus interest, to customers. These sanctions were based on FINRA's findings that Bishop misappropriated funds from his member firm’s customers by intentionally converting $40,000 […]

June 7, 2012
$40 million Accomodations Fund for Facebook (FB) IPO Approved by NASDQ

 It was announced this week that the boards of NASDAQ OMX Group and The NASDAQ Stock Market are seeking a review by the Securities and Exchange Commission of a one-time voluntary accommodations program for members who were disadvantaged by technical problems that happened during the Facebook (FB) IPO on May 18. The technical problems have been remedied according to an […]

May 23, 2012
Facebook and Banks Sued

As of today, Facebook (FB) shares have fallen roughly 18.4 percent from their $38 IPO price, within the first three days of trading, reducing the value of stock sold in the IPO by more than $2.9 billion. It was announced that Facebook, Inc., Facebook Chief Executive Officer Mark Zuckerberg, and the banks, including Morgan Stanley, are being sued by shareholders,  […]

April 26, 2012
The Florida Securities Investor Protection Act

FLORIDA INVESTORS, KNOW YOUR RIGHTS! Do you know that all Florida investors have the right to bring claims against their brokers or financial advisors to the Financial Industry Regulatory Authority, also know  as FINRA?  Know your rights under the Florida Investment Protection Act 517.301.                     The following is from the: 2011 Florida Statutes   517.301 Fraudulent transactions; falsification […]

April 24, 2012
E*Trade Capital Markets, LLC, Censured and Fined by FINRA

 The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:” E*Trade Capital Markets LLC (CRD #111528, Chicago, Illinois)  submitted a Letter of  Acceptance, Waiver and Consent in which the firm was censured, fined $45,000, required to pay $812.13, plus interest, in restitution to customers and to revise its WSPs regarding trade reporting. Without […]

April 19, 2012
Green Street Advisors Say Clients are Better Off with Publicly Traded REITs

In an InvestmentNews.com article, Dan Jamieson writes that Green Street Advisors Inc., says to forget the new breed of nontraded REITs. Investors are far more likely to be better off with publicly traded REITs, the research firm said in a report released Wednesday. The current regulatory scrutiny has forced sponsors of nontraded REITs to address […]

April 17, 2012
A Word of Caution When Buying REITs

In an InvestmentNews.com article by Bruce Kelly, April 1, 2012, he writes that shortly after Susan Fox bought a nontraded real estate investment trust for her IRA, the REIT started to show quarterly losses. But when she met with her broker to discuss her concern, he sold her a second nontraded REIT. Kelly writes that […]

April 17, 2012
Citi International Financial Fined by FINRA for Excessive Markups and Markdowns

On the Financial Industry Regulatory Authority's website (FINRA) it was announced that it had fined Citi International Financial Services LLC, a subsidiary of Citigroup, Inc., $600,000 and ordered more than $648,000 in restitution and interest to more than 3,600 customers for charging excessive markups and markdowns on corporate and agency bond transactions, and for related supervisory violations. Executive […]

April 9, 2012
David Lerner Associates Fined $3.7M by FINRA

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 […]

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