Posts tagged ‘securities compliance’
Investment Fraud Scams Involving Gold and Gold Futures.
The White Law Group is investigating possible investment fraud scams involving gold. With gold prices reaching record highs, financial advisors are increasingly turning to gold-related investments to increase returns. The North American Securities Administrators Association (NASAA) recently reminded investors to be cautious about jumping onto the gold bandwagon.
David Masset, NASAA President and North Carolina Deputy Securities Administrator, recently said, “[T]he soaring price of gold has sparked a modern-day gold rush among investors eager to recover stock market losses. But it’s still a Wild West out there and dangers abound for prospective gold investors.”
Although state and provincial securities regulators have issued an alert to help investors spot the risks of gold investments, the possibility of investment fraud scams involving gold or gold futures still exists.
Historically speaking, the value of gold-related investments fluctuates even more than the stock market and investing in gold (particularly with any significant portion of your net worth) can be unsuitable. Since gold often moves in reverse of stocks and bonds, financial advisors seeking to grow accounts without concern for the risks may push gold as a safe investment.
There are many ways to invest in gold, including buying actual gold or making gold-related market investments in mutual funds, exchange-traded funds and futures, as well as shares of gold mining companies.
If you have questions about an investment you made in gold, The White Law Group may be able to help. For a free consultation, please contact the firm’s Chicago office at 312-238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
For more information on The White Law Group, please visit our website athttp://www.whitesecuritieslaw.com.
Recovery of Schwab YieldPlus Investment Losses
The White Law Group is investigating securities fraud claims involving the ultra-short bond funds Schwab YieldPlus (SWYPX) and Schwab YieldPlus Select (SWYSX). Based on our investigation, it appears that these funds were marketed as conservative and an alternative to money-market funds to retirees and other investors.
Unfortunately, these investments were not the well-diversified, safe funds that Schwab was alleged to have represented to its customers. Rather, the funds were heavily invested in risky subprime mortgage-backed securities and risky collateral debt obligations.
The Schwab YieldPlus Fund has lost more than 40% of its value, making it one of the worst-performing ultra-short bond funds.
If you have suffered investment losses in Schwab YieldPlus, The White Law Group may be able to help.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.
Securities Regulation and Compliance Attorney
Are you a financial advisor or registered representative who needs legal representation in a regulatory inquiry brought by FINRA, the SEC, or a State Regulatory body?
The White Law Group may be able to help.
With over 30 years of securities experience, including substantial experience working at the SEC and FINRA on enforcement actions, The White Law Group is able to provide financial professionals with the necessary skills they need in defending a securities regulatory or enforcement proceeding.
The White Law Group’s securities regulation and compliance attorneys are experienced in all aspects of federal and state securities laws. Our securities regulatory, enforcement and compliance practice entails handling securities industry arbitrations; responding to Securities and Exchange Commission (SEC) and FINRA investigations; and defense against SEC and FINRA enforcement and administrative proceedings.
We represent clients at each critical juncture in an SEC and FINRA enforcement proceeding, including from an initial inquiry, a formal investigation, or even any resulting litigation (including during settlement negotiations, pre-trial hearings, administrative hearings, and federal trials). We also have experience preparing “Wells” submissions and negotiating Acceptance, Waiver & Consent (“AWC”) agreements.
If you have any questions or would like to discuss your specific situation, please contact The White Law Group, LLC at 312-238-9650 for a free initial consultation.
Or, for more information on the Firm and our attorneys, please visit our website at http://www.whitesecuritieslaw.com.
Wyoming Securities Laws
Each state has its own securities laws. The following are selected sections of the Wyoming securities laws that are generally applicable in FINRA arbitrations.
CHAPTER 4 – SECURITIES
17-4-101. Fraudulent practices prohibited in securities sales and purchases.
(a) It is unlawful for any person, in connection with the offer, sale or purchase of any security, directly or indirectly:
(i) To employ any device, scheme, or artifice to defraud;
(ii) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or
(iii) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.
17-4-102. Fraudulent practices prohibited in advisory activities.
(a) It is unlawful for any person who receives any consideration from another person primarily for advising the other person as to the value of securities or their purchase or sale, whether through the issuance of analyses or reports or otherwise:
(i) To employ any device, scheme, or artifice to defraud the other person; or
(ii) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon the other person.
If you have questions about a state securities law, The White Law Group may be able to help. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.
Wisconsin Securities Laws
Each state has its own securities laws. The following are selected sections of the Wisconsin securities laws that are generally applicable in FINRA arbitrations.
DFI−Sec 4.06 Prohibited conduct. (1) The following
are deemed “dishonest or unethical business practices” or “taking
unfair advantage of a customer” by a broker−dealer under s.
551.412 (4) (m), Stats., without limiting those terms to the practices
specified herein:
(b) Inducing trading in a customer’s account which is excessive
in size or frequency in view of the financial resources and
character of the account;
(c) 1. Recommending to a customer the purchase, sale or
exchange of any security without reasonable grounds to believe
that the recommendation is suitable for the customer on the basis
of information furnished by the customer after reasonable inquiry
concerning the customer’s investment objectives, financial situation
and needs, and any other information known by the broker−
dealer;
If you have questions about a state securities law, The White Law Group may be able to help. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.