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Your aged clients make tempting targets for fraudsters because they’re believed to have money and could be manipulated into giving it away (see related story). ...
Maryland-based adviser Dawn Bennett once paid $1.4 million for a luxury suite at AT&T Stadium, a perch from which she watched the Dallas Cowboys play. ...
The protection of retail investors nationwide—particularly seniors—is a core mission of the SEC. A $1 billion penalty announced Jan. 28 against Woodbridge Group of Companies, ...
FINRA’s recently released 2019 Risk Monitoring and Examination Priorities letter takes a new tact this go round by emphasizing new focus areas not noted in ...
Chances are John Maccoll and Steven Pagartanis have never met. But they share much in common. Both are fired broker-dealer reps who for years ran ...
The Commission’s complaint alleged that between 2008 and March 2018, Respondent Maccoll defrauded at least 15 of his retail brokerage customers out of nearly $4 ...
SIFMA has produced an example of a form you can give clients to obtain a trusted contact to reach out to in case the need ...
Cody defrauded at least three of his retired clients over a twelve-year period by concealing the fact that their retirement accounts had lost substantial value ...
Kelly used his companies, Lion's Share Financial of East Cobb, Inc., Lion's Share & Associates, Inc., and Lionsshare Tax Services, LLC, to raise at ...
A focus on cryptocurrency offerings has been a major driver in pushing state enforcement actions against unregistered firms and individuals to new heights. NASAA’s annual ...
Schmidt, who was associated with an SEC-registered broker dealer, sold securities of at least seven of his customers and secretly transferred over $1 million in ...
She made material misrepresentations about the investment stating that the investment was without risk, was completely liquid, and featured a guaranteed rate of return of ...
Ernest J. Romer, III persuaded at least 30 of his customers, many of whom invested most of their life savings with Romer, to sell securities ...
Even before a new law granted immunity to advisers who undergo training to spot financial exploitation of the elderly (IA Watch, May 24, 2018), Nathan ...
Maccoll told his customers that the purported fund investment would allow them to diversify their portfolios, receive annual investment returns as high as 20%, ...
Here are 11 questions found within an OCIE document request letter sent to an advisory firm that specifically asks about how the firm handles its ...
You hear it so often it could be a commercial’s refrain: “culture of compliance.” But what exactly does that phrase mean? Steve Levine, associate regional ...
This document request letter, sent to an advisory firm, asks about senior clients.
First FINRA created the ability of a broker to stop a money transfer if it suspects senior fraud (BD Watch, Jan. 4, 2018). Now the ...
Endres placed a number of her clients, some of whom were elderly, into an unsuitable, highly speculative investment strategy based on the short-term trading of ...
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