fbpx

Uncategorized

/Uncategorized

SEC charges adviser for running Ponzi scheme targeting Haitians

By | November 26th, 2019|Categories: Uncategorized|Tags: , |

A New York investment adviser is facing fraud charges after the U.S. Securities and Exchange Commission says the man operated a Ponzi scheme fronted as a multi-million-dollar investment club targeting members of the Haitian community, his family and his friends. Ruless Pierre ran an investment club called the Amongst Friends Investment Group according to the [...]

Former top Merrill Lynch adviser barred from securities industry by FINRA

By | November 25th, 2019|Categories: Uncategorized|Tags: , , |

A former top Merrill Lynch adviser is suspended from the securities industry for 18 months by the Financial Industry Regulatory Authority. Bruce K. Lee agreed to the suspension and the $15,000 fine issued on October 23, 2019, according to FINRA’s Broker Check. “Without admitting or denying the findings, Lee consented to the sanctions and to [...]

Reddit users who exploited finance app could be investigated by SEC, says expert

By | November 19th, 2019|Categories: Uncategorized|Tags: , , , |

Reddit users found what they call a “cheat code” to the trading app Robinhood. According to a thread on r/wallstreetbets, users figured out how to trade stocks with money they didn’t have but the app thought they did. Bloomberg describes the cheat code as “allowing users to trade stocks with excess borrowed funds, giving them [...]

Mass tort, explained

By | November 19th, 2019|Categories: Uncategorized|

Products that cause injury through design flaws or fail to properly give consumers an adequate warning can lead to mass tort. These cases can involve hundreds or thousands of people if a product causes injury to multiple people. But like many aspects in the legal system, mass tort can be confusing to understand. Here is [...]

Merrill Lynch, Raymond James pay $12 million to FINRA

By | November 18th, 2019|Categories: Uncategorized|Tags: , , , |

Customers who incurred excess fees on their 529 plans through Merrill Lynch, Pierce, Fenner & Smith, Raymond James & Associates, Inc., and Raymond James Financial Services, Inc. will receive approximately $12 million in restitution. The move comes after the Financial Industry Regulatory Authority announced on November 6, 2019, that the firms Merrill Lynch and Raymond [...]

SIFMA tests firms to see if they can withstand a cyber attack

By | November 15th, 2019|Categories: Uncategorized|Tags: , , , , |

Brokers and firms found out if they were well prepared against a cyber security attack in early November 2019. The Securities and Financial Markets Association (SIFMA) tested hundreds of people in the securities industry on November 7, 2019 with its Quantum Dawn V test. The test is a simulated cyberattack and tests how well firms [...]

The SEC is investigating Under Armor

By | November 13th, 2019|Categories: Uncategorized|Tags: , , |

Under Armor is under investigation by federal authorities over the sportswear company’s accounting practices, reports the Wall Street Journal. The newspaper says source familiar with the investigation claims the U.S. Department of Justice and the Securities and Exchange Commission are conducting a joint criminal inquiry into the company. The agencies have not publicly confirmed they [...]

Lessons from World Investor Week

By | November 6th, 2019|Categories: Uncategorized|Tags: , , , |

World Investor Week may have come and gone, but that doesn’t mean the valuable lessons taught during the week are a thing of the past. The week was held September 30 to October 1 as an effort to “raise awareness about the importance of investor education and protection,” according to Investor.gov, a division of the [...]

Facebook pays SEC $100 million following allegations

By | October 31st, 2019|Categories: Uncategorized|Tags: , , , |

If you’re not skeptical of Facebook and what they do with your data, you should be. On July 24, 2019 Facebook agreed to pay $100 million to the U.S. Securities and Exchange Commission for misleading users on the risk of misuse of Facebook user data. The charges stem from Cambridge Analytica, an analytics company that [...]

How to treat PTSD and tinnitus

By | October 30th, 2019|Categories: Uncategorized|Tags: , , , , |

Spencer Law Firm wrote about how veterans have a high probability of experiencing PTSD and tinnitus. According to medical experts, patients with post-traumatic stress disorder report their tinnitus symptoms are more intense than tinnitus patients who don’t have PTSD. Marc Fagelson, a professor of audiology at East Tennessee State University, told the Hearing Journal that testing [...]