Each month, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report that runs down all disciplinary actions recently taken against brokerage firms and brokers. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.
FINRA Disciplinary Action Report: July 2020
Each month, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report that runs down all disciplinary actions recently taken against brokerage firms and brokers. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.
FINRA Disciplinary Action Report: June 2020
Each month, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report that runs down all disciplinary actions recently taken against brokerage firms and brokers. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.
Philadelphia Woman Indicted in $68 Million Ponzi Scheme
The US Attorney’s office out of New Jersey recently announced the indictment of an investment fund manager who had allegedly orchestrated a $68 million securities fraud scheme. Fifty-nine year old Brenda Smith of Philadelphia, Pennsylvania was indicted on six counts of wire fraud and one count of securities fraud.
FINRA Disciplinary Action Report: May 2020
Each month, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report that runs down all disciplinary actions recently taken against brokerage firms and brokers. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.
Investments and Fraud Threats during Covid-19
FINRA’s Name Used in New Attempts to Scam Investors
In Regulatory Notice 20-12, FINRA pointed out fraudulent emails purporting to be from FINRA officers, including Bill Wollman and Josh Drobnyk. These emails have a source domain name “@broker-finra.org” and request immediate attention to an attachment relating to your firm.
FINRA Disciplinary Action Report: April 2020
Each month, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report that runs down all disciplinary actions recently taken against brokerage firms and brokers. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.
FINRA Disciplinary Action Report: March 2020
Each month, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report that runs down all disciplinary actions recently taken against brokerage firms and brokers. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.
Coronavirus May Compromise Broker Oversight
On Monday, The Financial Industry Regulatory Authority (FINRA) said that it would give firms greater flexibility in administering agents working remotely and in migrating staff to transitory areas. The regulator also said it would consider granting increases for firms that need more opportunity to react to requests and document cutoff times or examinations.
Financial Professionals Working Remotely Equals Compliance Risk
In reaction to the appearance of the pandemic coronavirus, some financial consulting corporations are telling their employees to work from home. Market unpredictability, working remotely -- and the greater cybersecurity openness introduced by doing so -- together take firms into a very high zone of vulnerability.
Market Volatility Will Expose Broker Misconduct
Banned Broker Questions Right to Bar Him
Non-Traditional ETFs Can Still Wreak Havoc in Investment Accounts
Phony Certificate of Deposit Scam Costs Investors More Than $25 Million
Banned Brokers Still Sell Insurance
FINRA Disciplinary Action Report: Feb 2020
Each month, the agency that regulates the financial industry, FINRA (Financial Industry Regulatory Authority), produces a detailed report that runs down all disciplinary actions recently taken against brokerage firms and brokers. We strongly encourage any investor who suspects their broker and/or broker-dealer of having lost them money on dubious terms to at least skim this report to see if you recognize any names, schemes, products, or securities.
Investors Lose Money in Non-Traditional ETFs
Financial oversight experts are scrutinizing non-traditional Exchange Traded Funds (ETFs) in the midst of an outcry from investors who have lost millions of dollars in the alternative investments. Moreover, investment fraud lawyers have launched litigation on behalf of investors who may have lost cash due to brokers recommending the risky ETFs.
Massive Fraud Rocks Pennsylvania Mennonite Community
On Friday, Federal prosecutors announced that a Berks County accountant has been charged with one of the greatest Ponzi schemes in the history of the Pennsylvania.
U.S. Attorney William McSwain disclosed that Philip Elvin Riehl, 68, of Bethel Township, Berks County, PA was charged with conspiracy to convey securities fraud, wire fraud and similar offences. Investigators assert Riehl's scheme targeted hundreds of Mennonite and Amish religious people in and outside Pennsylvania over 10 years and profited $60 million.