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February 18, 2015
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Blog, Securities Fraud
According to FA-Magazine, the commission of the SEC, Luis Aguilar, made claims that retail investors are often victim to higher markups in the municipal bond market compared to institutional investors. According to Aguilar, retail investors paid more that $10billion in excessive markups and markdowns between 2005 and
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June 27, 2013
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Blog, Securities Fraud
According to the Financial Industry Regulatory Authority (FINRA), StateTrust Investment Inc has been fined $1.045 million by FINRA and ordered to pay more than $353,000 in restitution to customers for charging excessive markups and markdowns in fraudulent corporate bond transactions. In addition, FINRA fined the
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January 11, 2011
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Blog, Securities Fraud
According to the New York Post, in May 2010, FINRA accused Long Island brokerage firm David Lerner Associates and its head trader, William Mason, of charging customers “excessive” markups on normally safe municipal bonds and high-grade mortgage-backed securities. According to the FINRA complaint, David
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January 3, 2011
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Blog, Securities Fraud
Financial Industry Regulatory Authority (FINRA) recently announced that it has expelled APS Financial Corporation, located in Austin, Texas, barred the firm’s former President, George Conwill, and barred Peter Aman, a former broker at the firm, in a scheme which overcharged an elderly investor by $1.2 million.
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November 24, 2010
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Blog, Securities Fraud
In 2009, FINRA announced that it had fined NEXT Financial Group, Inc., headquartered in Houston, Texas, $1 million for supervisory violations that primarily involved the failure to supervise its approximately 130 Office of Supervisory Jurisdiction (OSJ) branch managers, who typically supervise transactions and sales
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