The SEC recently announced an enforcement initiative that will target retail investor harm. The agency’s task force will use data analytics to find widespread problems regarding fee disclosures and unsuitable investment recommendations. In addition to data analytics, the SEC will rely upon tips, complaints and referrals that come into the SEC.
This heightened analysis of
It is almost axiomatic that the SEC “enjoys” bringing enforcement actions against lawyers. The SEC believes that lawyers have a special duty to protect and police the securities markets, and, when a lawyer fails, the SEC is right there to pounce.
In fact, the SEC fined and barred an attorney from practicing before the Commission
Despite numerous warnings, some people just do not get it. The SEC barred a broker from the industry because the broker used personal email and text messages to obtain client investments. See the Commission’s website.
The SEC found these personal communications were never submitted to the firm for review. As a result, the broker
The Supreme Court recently ruled that a five year statute of limitations applies to when the SEC seeks disgorgement. To learn more, read this alert.
The SEC recently announced that it charged a former broker with knowingly or recklessly trading unsuitable investment products for five customers and taking $170,000 for one of those customers. These charges follow a prior SEC Investor Alert warning about excessive trading and churning as well as another one focused on the risks associated with exchange-traded
The SEC has recently issued an Investor Alert regarding commentary provided about investors from what appear to be independent sources. It turns out, many of those independent sources are not independent at all. Instead, they are paid shills.
The SEC has instituted enforcement actions against such companies for generating deceptive articles on investment websites.
The SEC recently announced fraud charges, and sought an emergency asset freeze against a pastor who was accused of exploiting church members, retirees, and laid-off autoworkers. Apparently, he mislead these people by purportedly selling them on a successful real estate business.
The pastor cloaked his fraud in faith-based rhetoric, including references to the bible and
One of the outstanding issues relating to the Dodd-Frank Act was the SEC’s use of statutory power to regulate conduct that occurred prior to its enactment in July 2010.
The United States Court of Appeals for the District of Columbia recently decided that the SEC did not have the power to impose collateral bars on
At Fox Rothschild, we are constantly advising clients regarding the peril of engaging in the securities industry without the proper license. In fact, we have developed materials to provide our clients with information about the process. See http://www.foxrothschild.com/content/uploads/2016/10/e-book-Horn-Badway-McCoy-Broker-Dealers-Registered-Investment-Advisers-and-Commodities-Futures-Registered-Entities-October-2016.pdf.
A recent case before the SEC has only confirmed this advice. The SEC barred a person
Many people see the green of cannabis as a way to the pot of gold at the end of the rainbow. If you are going to invest in a legal (at a state level) cannabis business, you need to make sure that you know what you purchase.
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