"[S]cammers scam and liars lie."
Given the Financial Industry Regulatory Authority's assessment that he "plundered," it was a virtual certainty that a disciplinary hearing conducted recently by a Finra panel would end up badly for a broker under a withering spotlight.
The Financial Industry Regulatory Authority consistently asserts these days that its regulators are zeroed in on the nation's investment houses and brokers like never before.
Quick to act, slow to monitor and enforce.
The Financial Industry Regulatory Authority has for years had a pro-consumer rule that seeks to provide protection against broker abuse by enabling victims of wrongdoing to band together in litigation.
Regular readers of our securities law blog across California and elsewhere note well from our routinely posted entries that there is a most notable problem with bad-faith investment brokers across the country.
Are you getting a bit tired of acronyms?
A new rule for corporate compliance may be on the way for publically traded companies. The U.S. Securities and Exchange Commission has issued a new proposed rule that would simplify the disclosures such companies would have to make to investors. These disclosures are commonly made in annual reports, stock prospectuses and other required filings.
Good-faith investors were essentially "doomed" by strategies pursued by several advisers at one investment brokerage, notes a recent Investment News article chronicling fraudulent practices that yielded sharp losses for customers.
It is interesting -- and many readers might also note distressing -- to recurrently see stories featuring defendants who commit a criminal act that arguably hurts no one other than themselves and nonetheless receive lengthy (sometimes decades-long) prison sentences.