More Securities Law Updates
Page 7 of 28 of Securities Law Summaries » New Releases/No Action Letters
In re: Wells Fargo Investments, LLC | CRD No. 10582 |
12/15/2011
The Financial Industry Regulatory Authority (FINRA) has fined Wells Fargo Investments, LLC, $2 million for unsuitable sales of reverse convertible securities through one broker to 21 customers, and for failing to provide sales charge discounts on Unit Investment Trust (UIT) transactions to eligible customers. More...
In the Matter of Morgan Keegan & Company, Inc. and Morgan Asset Management, Inc. | File No. 3-13847 |
11/15/2011
The U.S. Securities & Exchange Commission and regulators from South Carolina, Alabama, Kentucky, Mississippi, and Tennessee have released the appointment of A.B. Data, Ltd. of Milwaukee to distribute $200 million to investors from the regulators’ settlements with Morgan Keegan & Company and Morgan Asset Management. More...
SEC v. Jenkins | SEC No. 2011-243, Case No. 2:09cv1510, US District Court for the District of Arizona |
11/15/2011
The former chief executive officer and chairman of CSK Auto Corporation has agreed to return $2.8 million in bonus compensation and stock profits that he received while the company was committing accounting fraud, according to the Securities and Exchange Commission. More...
SEC v. Michael Balboa, et al. | SEC No. 2011-252, Case No. 11-civ-8731, U.S. District Court for the Southern District of New York |
12/1/2011
As part of an initiative to combat hedge fund fraud by identifying abnormal investment performance, the Securities and Exchange Commission has announced enforcement actions against three separate advisory firms and six individuals for various misconduct including improper use of fund assets, fraudulent valuations, and misrepresenting fund returns. More...
U.S. v. George Sepero, et al. | Case No. ______, US District Court for the District of New Jersey |
12/14/2011
Two men claiming to run New Jersey-based hedge funds using a secret computer program to invest in foreign currency are charged for allegedly defrauding victims out of more than $3.5 million and spending the investments on high-end vehicles, luxury travel and five-figure bar tabs, according to U.S. Attorney for the New Jersey Paul J. Fishman.
More...
U.S. v. Hector Gallardo | Criminal Case No. 1:11mj1079, U.S. District Court for the Eastern District of New York |
11/3/2011
Hector Gallardo, a registered representative and a holder of Series 7 and 63 licenses, issued by the Financial Industry Regulatory Authority, was arrested on wire fraud charges. More...
No. _____ |
11/15/2011
IntercontinentalExchange (NYSE: ICE), an operator of global regulated futures exchanges, clearing houses and over-the-counter (OTC) markets, announced that its credit default swap (CDS) clearing houses surpassed $25 trillion in cumulative gross notional value during the week ending November 11, 2011. More...
In re: Chase Investment Services Corp., Respondent | Broker-Dealer No. 25574 |
11/15/2011
The Financial Industry Regulatory Authority (FINRA) has ordered Chase Investment Services Corporation to reimburse customers more than $1.9 million for losses incurred from recommending unsuitable sales of unit investment trusts (UITs) and floating rate loan funds. More...
U.S. v. Kurt Branham Barton | Criminal Case No. 1:11cr83, U.S. District Court for the Western District of Texas |
11/4/2011
Kurt Branham Barton, founder, president, and CEO of Triton Financial, L.L.C., was sentenced to 17 years in federal prison followed by five years of supervised release for carrying out a Ponzi scheme which victimized more than 300 individuals and resulted in a total estimated loss to investors of over $50 million, according to the United States Attorney’s Office in the Western District of Texas. More...
U.S. v. Todd Hansen, et al. | Case No. 1:11mj2779 |
11/4/2011
Federal prosecutors have unsealed accounting fraud charges against Todd Hansen, the former president of the United States division of one of the world’s largest outdoor advertising companies (the “Company”), and James Buckley, the former finance director of the Company. More...
Page 7 of 28 of Securities Law Summaries » New Releases/No Action Letters
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