Securities America to Pay $1M Over Sales of MedCap Notes
Earlier, the IBD agreed to give some $2.8 million to some 60 investors who lost millions as the firm went into default.
FINRA Bars Rep for $15M of ‘Unsuitable Trades’ in Retiree Account
The client was a longtime Colgate-Palmolive employee who lost dividends and paid $375,000 in markups and other fees.
BD Must Repay Tribe $3.4M, Pay $750K FINRA Fine
An advisor that sold $190 million in nontraded REITs and BDCs has yet to resolve charges with the regulator.
FINRA Expels BD, Bars CEO for Fraudulent Muni Bond Sales
Robert Lawson transferred millions of dollars from a deceased client's trust to hide bond borrowers' poor financial condition.
New Tech Scam Warning Shows How Vulnerable We Are
Clients — or advisors themselves — might fall prey to a new, clever telephone fraud.
Citi to Return $22.5M in Excess Fees
The reimbursement, ordered by the New York Attorney General, affects about 47,000 mutual fund clients.
Barred Broker Pleads Guilty to SEC Obstruction, May Avoid Jail
The former advisor will also pay more than $580,000 in penalties for hiding referral fees from an elderly widow.
Napoleon Is Dead! Wait, That's a Stock-Market Scam.
Financial markets have been dealing with hoaxes, frauds and fake news for a long time. The wrong response can be costly.
Wine Merchant Gets 6 Years in Prison for Ponzi Scheme
John Fox ran Premier Cru, a "phantom wine" futures business that cost investors about $45 million.
Madoff Victims Poised to Start '17 With $342M in Payouts
Settlement financed in part by collection from Chais estate; trustee set to disburse as recoveries top $11.5 billion.