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November 17, 2020
Comments Off on FINRA: Private Placement Offerings Rule Change
Blog, Securities Fraud
FINRA to Tighten Regulations for Private Placement Marketing Communication According to the Financial Industry Regulatory Authority this week, the regulator has filed a proposed rule change with the Securities and Exchange Commission to require broker-dealers to file retail communications relating to private placement
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October 15, 2020
Comments Off on FINRA may Tighten Senior Exploitation Rule
Blog, Securities Fraud
The Financial Industry Regulatory Authority’s revised rule would extend a temporary hold on accounts to protect Seniors. According to reports last week, The Financial Industry Regulatory Authority (FINRA) wants to further amend Rule 2165, the Financial Exploitation of Specified Adults, to extend the hold
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October 2, 2020
Comments Off on Former Financial Planner Gerald Eaton Pleads Guilty to Fraud
Blog, Current Investigations, Securities Fraud
Gerald Eaton, Commonwealth Financial Network, Acton, MA Authorities Allege Gerald Eaton Stole $3.7 Million from 20 Clients According to an article in Patch.com yesterday, financial advisor Gerald Eaton, of Acton, Massachusetts, pleaded guilty Wednesday to stealing more than $3.7 million from more than 20 clients
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September 9, 2020
Comments Off on Michael Cohn, Ex-GPB Capital Exec Pleads Guilty to Stealing SEC info
Blog, Current Investigations, Securities Fraud
GPB Capital Update on Investigation According to reports yesterday, Michael Cohn, former chief compliance officer at private equity firm, GPB Capital Holdings, pleaded guilty to a misdemeanor on Tuesday. Cohn, 61, was reportedly charged in February 2019 with stealing information about a probe into GPB Capital while he
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September 4, 2020
Comments Off on Wells Fargo to pay $1.4 M in Restitution for Failure to Supervise VA Switches
Blog, Securities Fraud
FINRA Sanctions Wells Fargo for Failure to Supervise VA Switches According to the Financial Industry Regulatory Authority (FINRA) on September 2, 2020, Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network have agreed to pay more than $1.4 million in restitution, plus interest, to about 100
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September 1, 2020
Comments Off on Broker Matthew O. Clason Charged with Stealing Client’s Funds
Blog, Securities Fraud
Matthew O. Clason, LPL Financial, Glastonbury, CT SEC Charges Matthew Clason with Stealing from Retired Client According to a litigation release on Sept. 1, 2020, the Securities and Exchange Commission reportedly filed an emergency action charging financial advisor Matthew O. Clason, of Cheshire, Connecticut, with
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August 28, 2020
Comments Off on Broker Mark Boucher Charged with Defrauding $2.2 Million from Clients
Blog, Current Investigations, Securities Fraud
Mark Boucher, Strategic Wealth Advisor Group Services Inc., Carlsbad, CA SEC Reportedly Charges Mark Boucher with ongoing fraud between 2010 and 2020 According to an SEC complaint this week, the Securities and Exchange Commission has charged financial advisor Mark J. Boucher, 56, of Carlsbad, California, with
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August 26, 2020
Comments Off on FINRA Warns of Fake Broker Sites
Blog, Securities Fraud
FINRA Alert Warns of Fake Websites using Brokers’ Names Not long after an alert about a new fake FINRA domain that has an extra “n” in its domain name, the Financial Industry Regulatory Authority (FINRA) warned that impersonators are also setting up fake websites using brokers’ names. According to
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August 14, 2020
Comments Off on Broker Ross Barish Reportedly Charged with Fraud
Blog, Current Investigations, Securities Fraud
Ross Barish, Joseph Stone Capital, Mineola, NY SEC Reportedly Charges Ross Barish with Defrauding 16 Customers According to a litigation release on August 13, 2020, the Securities and Exchange Commission announced charges against financial advisor Ross Barish for allegedly defrauding sixteen retail customers. The
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August 14, 2020
Comments Off on Morgan Stanley hit with $950,000 for Failure to Supervise
Blog, Current Investigations, Securities Fraud
FINRA sanctions Morgan Stanley after broker allegedly churns customer accounts. According to the Financial Industry Regulatory Authority (FINRA) yesterday, the regulator has sanctioned Morgan Stanley in connection with alleged failures to supervise one of its brokers who purportedly churned client accounts. The
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