Tag Archives: Miami Investment and Financial Attorney
Florida Brokerage Firm Agrees to $150 Million Settlement in Jay Peak Case
On April 13th, 2017, there was a major development in ongoing Jay Peak litigation. The court-appointed receiver for Jay Peak, Michael I. Goldberg, announced that he had reached a $150 million settlement with Raymond James & Associates Inc., the Florida brokerage firm that allegedly ‘aided and abetted’ the mass fraud that took place at… Read More »
FINRA Orders Five Companies to Pay Customers More Than $6 Million
Recently, the Financial Industry Regulatory Authority (FINRA) announced fines against five broker-dealers. Collectively, the companies were ordered to pay $6.2 million in fines and restitution to customers. The broker-dealers that were fined included VOYA Financial Advisors, Cetera Advisors Networks, First Allied Securities, Summit Brokerage Services and VSR Financial Services. The fines stemmed from the… Read More »
The SEC Has Charged UBS Financial Services With the Failure to Adequately Supervise its Sales Staff
The Securities and Exchange Commission (SEC) recently reached a $15 million settlement with the financial services giant UBS. The settlement came in relation to charges that the company failed to adequately educate, train and supervise members of its sales team. As a result of these failures, sales representatives were unable to fairly inform clients… Read More »
NFL Player Files Lawsuit Against Former Financial Advisers
Recently, InvestmentNews.com reported that Pro Bowl NFL player Dez Bryant had filed a breach of fiduciary duty lawsuit against his former investment advisers. The lawsuit also accuses his ex-advisers, a group led by current Texas State Senator Royce West, of fraud and gross negligence. All financial advisers have a legal obligation to look out… Read More »
A Guide to Entitlement to Credit Suisse Deferred Compensation
On October 20, 2015, Credit Suisse and Wells Fargo announced an exclusive recruiting arrangement “to provide relationship managers and their clients in Credit Suisse’s U.S. Domestic Private Banking business an opportunity to transition to Wells Fargo’s brokerage business, Wells Fargo Advisors.” The next day, Credit Suisse issued a press release where it confirmed, “we… Read More »
Securities Fraud Suit Filed against Electronics Firm Harman International
On June 23, 2015, the U.S. Court of Appeals for the District of Columbia ruled to reinstate a securities fraud class action lawsuit against electronics company, Harman International Industries Inc., and, more specifically, against three of its high-ranking executives. Plaintiffs alleged that back in April of 2007, the company announced that it would potentially… Read More »
Securities Fraud Suit Filed against Solazyme, Inc.
On June 29, 2015, the news media announced that a securities fraud class action lawsuit has been filed against Solazyme, Inc. in the U.S. District Court covering the northern district of California. The suit was filed on behalf of investors who held shares in Solazyme between February 27, 2014, and November 5, 2014. This… Read More »
The Pump-and-Dump: How False Tips Move Money from Your Pocket to Someone Else’s
As investment waters grow murkier and financial planning more specialized in today’s economy, securities fraud is increasingly common and complicated. What is an example of a typical securities fraud setup? The pump-and-dump is a common example, a fraudulent method of manipulating the price of a stock. It’s often carried out through the internet, focuses… Read More »
What is FINRA?
With so many regulatory bodies, it can be easy to become confused about which organization is responsible for which tasks. FINRA, the Financial Industry Regulatory Authority, formerly the National Association of Securities Dealers, is one of those regulatory bodies. What does FINRA do, and how does it compare to the Securities and Exchange Commission?… Read More »
