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 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 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 […]

  In a recent New York times article, Greg Smith writes about his experience with Goldman Sachs as an executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa. Here are some excerpts from his article that highlight Goldman Sachs intention to make money off their clients […]

WASHINGTON — In a February article in The Bond Buyer, Jonathan Hemmerdinger writes that a Financial Industry Regulatory Authority (FINRA) arbitration panel ordered Memphis-based Morgan Keegan & Co. to pay a Birmingham investor $1.95 million for misrepresenting that the Jefferson County, Ala., sewer bonds he purchased were safe, liquid and tax-free investments. These bonds were actually […]

In a March 1st, 2012, article from InvestmentNews.com, Dan Jamieson writes that Finra is considering giving up its proprietary lock on BrokerCheck data, opening the way for a higher level of scrutiny of brokers' disciplinary information, observers said. Finra, the Financial Industry Regulatory Authority Inc., earlier this month requested comments on the idea of giving private […]

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, January 2012.”   Marcela Zamora Erana (CRD #4450935, Registered Principal, Key Biscayne, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which she was fined $5,000 and suspended from association with any FINRA member in any capacity for one month.   Without admitting […]

Bruce Kelly writes in a February 9th., 2012 article for InvestmentNews.com that securities regulators are taking a close and careful look at a fast-growing alternative investment known as a nontraded business development company. The InvestmentNews.com article states that the North American Securities Administrators Association is “gearing up to draft a statement of policy” on nontraded […]

In an article for InvestmentNews.com, on February 1st, 2012, Mark Schoeff Jr. writes that in a market defined by low interest rates, investors are searching for higher returns. But brokers better be careful how they try to deliver those results, according to their primary regulator. In a 16 page letter posted on its website, the Financial Industry […]