There are often two types of people who get heavily involved in investing their money. First, there are those who are preparing for retirement. They have been carefully tracking the balances of their retirement accounts for years, waiting for that opportunity to leave the workforce and free up their time. Second, there are those who […]
The SEC has very stringent rules that require all broker-dealers to adopt and comply with rigid customer identification rules. These rules are intended to limit the probability that a prospective customer for the broker-dealer does in fact have sufficient assets to cover the trades that the customer wants to make. The SEC requires broker-dealers to […]
The SEC recently announced that it has obtained emergency relief, including an asset freeze, in an ongoing fraud case against New York developer Richard Xia (Yi Xia) and his company, Fleet New York Metropolitan Regional Center, LLC. According to a complaint filed in a Brooklyn federal court, the SEC is claiming that Xia violated the […]
When you hear news stories about corporate malfeasance, you usually hear only the most egregious criminal activity. Ponzi schemes, IPO fraud, and massive misrepresentations on a grand scale are commonly reported. While these activities can certainly leave you with serious financial harm, perhaps even financial ruin, the truth of the matter is that financial misconduct […]
The financial industry is rife terrain for broker misconduct. In an industry where people are judged on their profits, it is not uncommon for investors to be victimized by various forms of illegal activity in the financial sector. FINRA oversees the securities business and sanctions individuals and firms who violate the law. Still, many brokers […]
When the crisis surrounding the UBS Puerto Rico closed-fund losses was at its peak in 2015, it was hard to predict how the chips would fall. Now that some of the issues are being settled, the picture is getting more clear, and it may make some people unhappy. Of the $3.4 billion that customers allegedly […]
Puerto Rico’s economy continues to struggle. A recent report showed that the island’s Gross National Product contracted by 3.2% in 2020. By comparison to 2019, the island’s GNP shrunk by about 5%. When breaking down the report, it appeared that people on the island spent less on personal goods and services, which naturally hurt the […]
You have a lot of investment options at your disposal. You might be excited about your prospects when choosing one of these options, but your hopes can quickly be dashed when you’re subjected to securities fraud. The sad truth is that fraud occurs regularly in the securities world, leaving unsuspecting investors with serious financial harm. […]
Among the thousands of new tools available to investors, there are now some that judge “social” sentiment among Twitter and Reddit users. Some brokers may be using this sentiment profile to target clientele to invest in high-risk investments. FINRA has now been authorized by the SEC to pursue broker-dealers and financial advisors who engage in […]
There are different ways to resolve securities related disputes and two of those options are mediation and arbitration. Mediation and arbitration are two forms of alternative dispute resolution. The differences between arbitration and mediation Mediation and arbitration are proceedings typically used to resolve securities disputes with the Financial Industry Regulatory Authority (FINRA). Victims of broker […]