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June 2, 2012
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Blog, Securities Fraud
It is being reported that Brendan Coughlin and Henry Harrison, two co-founders of Provident Royalties LLC, have been fined $50,000 each and suspended from the securities industry for two years, according to a settlement with the Financial Industry Regulatory Authority Inc. According to the Finra order of settlement,
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December 2, 2011
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Blog, Securities Fraud
A recent article by Bruce Kelly of the investmentnews.com reported the opinion of Gordon Yale, a forensic accountant, who has served as an expert for dozens of investors who have brought claims against brokerage firms related to the sale of failed private placement investments issued by companies like DBSI, Inc.,
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October 21, 2011
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Blog, Securities Fraud
Have you suffered losses due to your investment in Provident Royalties LLC and/or their affiliates like Provident Resources, Provident Energy, and Shale Royalties? If you did, the attorneys of The White Law Group may be able to help you recover your investment losses through FINRA arbitration. Provident Royalties LLC
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April 28, 2011
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Blog, Securities Fraud
According to the Investment News, the Securities and Exchange Commission has alleged that an independent broker-dealer that was a leading seller of private placements that went bust failed to conduct reasonable investigations into the offerings — and pocketed fees for due diligence without adequately researching the
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April 26, 2011
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Blog, Securities Fraud
According to the Investment News, another independent broker-dealer that sold high-risk private placements is hanging on by a thread, with the firm’s management stating grave concerns about the B-D’s future. CapWest Securities Inc. reported in its most recent filing with the Securities and Exchange
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February 21, 2011
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Blog, Securities Fraud
According to the Investment News, three independent broker-dealers are suing their respective insurance carriers for failing to cover investors’ legal claims, with one charging that its insurer has exposed it to “financial ruin.” The broker-dealers, Next Financial Group Inc., Berthel Fisher & Company
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February 16, 2011
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Blog, Securities Fraud
According to the Investment News, National Securities Corp. is the latest broker-dealer to face disciplinary action from Finra over the sale of private placements gone bust. According to National Securities’ profile on Finra’s BrokerCheck system, the firm received a Wells notice last month from the
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February 15, 2011
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Blog, Securities Fraud
According to Investment News, a broker-dealer that was a prominent seller of high-risk private placements that wound up going bust has almost wiped the slate clean of costly litigation that could have impaired the firm’s financial condition. Workman Securities Corp. this month reached an agreement with the
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February 7, 2011
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Blog, Securities Fraud
According to the Investment News, QA3 Financial is to cease operations. Facing bankruptcy and a potential net capital violation, QA3 Financial Corp. told its 400 brokers late on Friday afternoon it will close in a week. In an e-mail that landed in brokers in-boxes about an hour after the close of the market, Steve
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February 3, 2011
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Blog, Securities Fraud
Broker-dealer sales of opaque and illiquid private investments are squarely in the sights of securities regulators at the Financial Industry Regulatory Authority Inc. In fact, Regulation D private placements and “close cousin” non-traded real estate investment trusts are listed as the first and second areas of
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