Galvin Targets Alt Mutual Fund Sales With Exam Sweep
Massachusetts has subpoenaed state-registered advisors on their supervision, compliance and training regarding a host of alt funds.
Galvin Fines LPL $250K Over False Senior Designation Titles
Since mid-'07, LPL did not establish, maintain, or enforce a procedure to review senior-specific titles for compliance in Massachusetts.
Craigslist Ponzi Scheme Snares Retired Teacher: State Regulators
Regulators in Massachusetts and Alabama issue cease-and-desist orders against Premiere Asset Management for orchestrating a Craigslist-based scheme.
The SEC ‘Hasn't Been Doing Its Job for a Long Time’: Brian Hamburger
In a wide-ranging session at the Envestnet Advisor Summit in Chicago in early May, MarketCounsel's Brian Hamburger argued that one of the main regulatory and compliance issues facing advisors is the regulators themselves.
Protecting Grandma From Elder Abuse
Imagine a broker driving an 83-year-old widow with Alzheimer's to local banks so that she can withdraw over $1 million from CDs.
Mass. Regulator Galvin Issues ‘Emergency’ Crowdfunding Exemption
The Massachusetts Securities Division said Thursday that it had adopted a crowdfunding exemption for offerings within the state.
Why NASAA Is Leading the Charge Against Elder Fraud
At least one-third of the enforcement actions initiated by state securities regulators involve senior investors, and NASAA is tackling the issue head on.
Fidelity Co-op Bank Must Set Up $3.5M Investor Relief Fund
The $1.1-billion Ponzi scheme required investments of $280 or $1,375 in TelexFree, according to Massachusetts and federal authorities.
Mass. Checks Out How BDs Treat Older Investors
Massachusetts securities regulator William Galvin is sweeping 162 Massachusetts BDs to gauge the number of complaints from older investors and how BDs resolve them.
SEC, FINRA Enforcement: Advisors Get $3.6M Arb Award After Boss Faked Client Complaints
In other actions, Massachusetts has charged Boston-based Cabot Investment Properties with fraudulent sales of real estate investments to seniors.