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January 22, 2019
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Blog, Current Investigations
Mass. Regulators charge Royal Alliance Associates with Failure to Supervise According to an article in Investment News today, the state of Massachusetts has charged Royal Alliance Associates with failure to supervise a broker who recommended unsuitable investments to a couple, costing the investors nearly $60,000. The
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January 18, 2019
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Blog, Current Investigations
Jay R. Weiser – Despain Financial Corporation According to the Financial Industry Regulatory Authority (FINRA) on January 17, Jay R. Weiser was barred from the securities industry for failure to provide testimony in an investigation. According to the Letter of Acceptance, Waiver and Consent, in November 2018,
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January 17, 2019
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Blog, Current Investigations, Securities Fraud
Merrill Lynch Advisor Thomas Buck According to reports this week, federal prosecutors are asking a judge to impose a 78-month prison sentence on Thomas Buck, the former Merrill Lynch broker who in 2018 pled guilty to one count of securities fraud and agreed to pay a $5 million penalty. Buck’s sentencing hearing is
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January 15, 2019
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Blog, Securities Fraud
How is the Government Shutdown Affecting the SEC? As you surely know by now, thousands of workers have been furloughed as a result of the U.S. government shutdown on December 22. All “nonessential” functions have been paused as President Donald Trump and congressional leaders try to reach an agreement. The
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January 14, 2019
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Blog, Current Investigations
FINRA Complaint Alleges Dennis Allen Hayes was “Selling Away” According to FINRA, the regulator’s Department of Enforcement has filed a complaint on January 11 against former financial advisor, Dennis Allen Hayes, for allegedly “selling away.” The complaint alleges that between March 2010 and June 2016 while
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January 9, 2019
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Blog
Could an expedited 1035 Exchange process lead to variable annuity switching? According to Investment News, annuity providers are finally moving into the 21st century in regards to the way a 1035 exchange will be processed. A 1035 exchange is a tax-free transfer from one annuity contract to another, and is a typically
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January 2, 2019
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Blog
Financial Advisor Fees According to a recent article on Yahoo Finance, more than one in five investors don’t know what they pay in investment fees, according to a survey by Personal Capital. Another 10 percent don’t even know if they’re paying any fees at all. Financial advisors are getting paid for
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December 28, 2018
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Blog
FINRA – Essential Investor Tips for 2019 The Financial Industry Regulatory Authority (FINRA) just released an Investor Alert on essential investor tips for 2019. Begin your retirement planning. If you continue to wait until you have enough money to save for retirement, you may never save a dime. Talk to your
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December 1, 2018
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Current Investigations, Securities Fraud
The White Law Group announces an investigation into gold/silver/platinum and palladium futures losses. Did you invest in gold, silver, platinum, or palladium futures between January 2009 and December 2015? If you suffered losses investing in gold/silver/platinum and palladium futures, the White Law Group may be able
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November 15, 2018
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Blog
California Camp Fire cause major PG&E Corp. outages According to reports, PG&E Corp. shares fell another 22% today due to growing concerns that the utility’s insurance may not cover the possible losses from the devastating wildfire in Northern California. The parent of Pacific Gas and
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