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A Pre-ICO Deal You Cannot Miss? Meet The SEC’s Brainchild, HoweyCoins

A Pre-ICO Deal You Cannot Miss? Meet The SEC’s Brainchild, HoweyCoins

July 13, 2018

If you exchanged an official email with any SEC employee recently, you have seen the banner for Howeycoins Travel Network. And if you like to get in on a profitable deal, you probably thought, “well, if the SEC is endorsing them, these guys must be legit.” Perhaps you clicked on the...


Georgia Court Ruling Diminishes Protocol Protections for Brokers

July 12, 2018

Ever since it was implemented, brokers have relied on the Protocol for Broker Recruiting to be able to take some of their clients with them when they leave a firm, but a recent ruling by a state court in Georgia might jeopardize the Protocol’s protections. 
The Appeals...


Massachusetts Watchdog Targets Broker-Dealers’ Inadequate Oversight of Private Placements

Massachusetts Watchdog Targets Broker-Dealers’ Inadequate Oversight of Private Placements

July 11, 2018

The head of Massachusetts' state securities regulatory body, Secretary of the Commonwealth William F. Galvin, issued a public statement announcing an inquiry into the practices of some of the top local broker-dealers related to private placement investments. 
These funding rounds of...


FINRA Regulatory Notice Encourages Members to Disclose Participation in Any Cryptocurrency-related Activities

FINRA Regulatory Notice Encourages Members to Disclose Participation in Any Cryptocurrency-related Activities

July 10, 2018

FINRA has announced it will increase its scrutiny of the cryptocurrency market. As several regulatory bodies endeavor to establish their jurisdiction over the crypto space, FINRA will now boost its oversight of registered firms’ participation in its burgeoning market. 
In a new...


WELLS FARGO Will Pay $480 Million to Settle Fraud & Insider Trading Class Action Brought by Shareholders

WELLS FARGO Will Pay $480 Million to Settle Fraud & Insider Trading Class Action Brought by Shareholders

July 9, 2018

Wells Fargo will pay $480 million to resolve fraud and insider trading allegations brought in a class action in California.
According to the plaintiffs, top executives at the bank engaged in insider trading after employees were directed to create millions of accounts under customer names,...


Chicago Cryptocurrency Trader Pleads Guilty to Stealing $3 Million in Litecoin and Bitcoin

Chicago Cryptocurrency Trader Pleads Guilty to Stealing $3 Million in Litecoin and Bitcoin

June 18, 2018

Joseph Kim, a young Chicago trader just pleaded guilty to stealing $3 million worth of cryptocurrency from the firm that employed him and investors. The case, which involves charges of wire fraud, is the first criminal prosecution for cryptocurrency related violations in the city.
The...


California Attorney Found Guilty in Pump-and-Dump Scheme Case Involving Greenway Technology and Crown Marketing

California Attorney Found Guilty in Pump-and-Dump Scheme Case Involving Greenway Technology and Crown Marketing

June 16, 2018

Jehu Hand, a California-based attorney has been found guilty of securities fraud and is now awaiting sentencing. Following his trial, which took place in Boston, the defendant could be facing  up to eight years in prison.
The federal jury found that Hand conspired with his two brothers...


Merrill Lynch FAs Will Experience Pay Cuts Unless They Meet Certain Targets

Merrill Lynch FAs Will Experience Pay Cuts Unless They Meet Certain Targets

June 15, 2018

As Merrill Lynch brokers appear to lag behind their competitors at Morgan Stanley, some FAs at the firm are probably not looking forward to seeing their paychecks this summer season.
Based on Merrill’s new compensation program, FAs who do not hit specific targets are going to endure...


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