• Fraud alert: Investment complaints rising

    June 3, 2009 Comments (0) Blog, Securities Fraud

    As reported by Richard Burnett of the Orlando Sentinel, investment fraud is rising in Florida with complaints about suspicious practices more than doubling last year. The state Office of Financial Regulation received 425 investment-related complaints last year. Another 112 complaints have been filed so far in 2009.

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  • New Investor Asset Custody Rules Proposed

    June 1, 2009 Comments (0) Blog, Securities Fraud

    The SEC approved the issuance of new rules to stregthen the investment advisor custody requirements. In remarks at the open meeting, Chairman Mary Schapiro said the action was in response to major investment scams, including the alleged Bernard Madoff Ponzi scheme. The propsal wuld add a requirement that all

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  • Activity Letter from my Brokerage Firm

    May 29, 2009 Comments (0) Blog, Securities Fraud

    Why did my Brokerage Firm send me this letter? If you have ever received a letter from your brokerage firm regarding the trading, or activity, in your account, you might have asked yourself, “why did my brokerage firm send me this letter?” These letters are called activity letters and most brokerage firms send

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  • List of Law Directories

    May 27, 2009 Comments (0) Blog, Securities Fraud

    Here is a list of law specific directories we have submitted our firm’s details to: Complete Attorney List Directory Law Offices of David A. Carter, PA  

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  • Recent Changes to the FINRA Code of Arbitration

    May 27, 2009 Comments (0) Blog, Securities Fraud

    The Securities and Exchange Commission (SEC) has recently approved several amendments to the Financial Industry Regulatory Authority (FINRA) Code of Arbitration Procedure (the Code). The SEC has approved rule changes that will increase the number of cases to be heard by a single arbitrator and severely limit the

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  • Customer Complaints on the Rise?

    customer complaints

    May 26, 2009 Comments (0) Blog, Securities Fraud

    With branch offices increasing, will customer complaints be on the rise? Despite the downturn in the economy, brokerage firms are continuing to expand there base by growing the number of brokerage firm offices established in the United States. Based on statistics provided by FINRA (formerly the NASD), there were just

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  • Financial Fraud Often Aimed at Seniors

    May 26, 2009 Comments (0) Blog, Securities Fraud

    According to Jennifer Levitz’s May 19, 2009 article in the Wall Street Journal, “Laws Take on Financial Scams Against Seniors,” regulators believe that no investors are more vulnerable to scams than older people, who depend on their savings for a secure retirement. Experts say these scams are appearing with

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  • Investor Tools

    May 25, 2009 Comments (0) Blog, Securities Fraud

    Whether or not you knew it at the time you established your brokerage account, virtually every new account agreement with a broker-dealer includes a binding arbitration agreement. As such, if you believe you have a claim against your broker-dealer, whether that claim be fraud, negligence, selling away, etc., you

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  • 8th Circuit Addresses Scope of Fiduciary Duty

    May 21, 2009 Comments (0) Blog, Securities Fraud

    A panel of the 8th Circuit Court of Appeals addressed the scope of the fiduciary imposed on advisors of mutual funds by the Investment Company Act. The shareholdres of 11 mutual funds had brought an action alleging that the fund manager had breached its fiduciary duty by misleading the funds’ board of directors

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  • SEC Charges Madoff Auditors

    May 21, 2009 Comments (0) Blog, Securities Fraud

    The SEC charged the auditors of Bernard Madoff’s broker-dealer firm with committing securities fraud by representing that they had conducted legitimate audits, when in fact they had not. In its complaint filed in federal court in New York, the SEC alleged that from 1991 through 2008, certified public accountat

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