|Comments Off on Department of Labor Rolls Out New Rules for Financial Advisers: What They Mean for Reporters

Despite a shift towards more transparency in the financial planning industry, many investors still aren’t sure what they are paying their financial advisers, USA Today reported.

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|Comments Off on The SEC and Finra Tighten Their Grip on Money Laundering Violations

Regulators are clamping down on money laundering violations among brokerdealers in firms of all sizes, regardless if they have the proper compliance resources or not. Brokerdealers of small and medium sized firms should brace themselves for increasing regulations involving their compliance practices.

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|Comments Off on Massachusetts Looks to Hammer Shady Brokers

The top 241 firms in Massachusetts with an above average number of reps with misconduct reports on their records are being audited.

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|Comments Off on SEC Bans Broker For Fraud in Tobacco Scheme

Lee Weiss, a Massachusetts resident, was banned from the brokerage and investment industry for a fraud scheme revolving around tobacco.

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|Comments Off on Ex-Stockbroker Gets Decade In Prison For Fake CD Scheme

A former stockbroker who pled guilty to fraud charges for bilking investors through fake certificates of deposit was ordered by a Pennsylvania federal court on Thursday to pay over $3 million in restitution and serve a 10-and-a-half-year sentence, according to the U.S. Securities and Exchange Commission.

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|Comments Off on Ex-MedCap Prez Gets 10 Years For $50M Investor Fraud

A California federal judge has sentenced Medical Capital Holdings Inc.’s ex-president to serve more than 10 years in prison and pay nearly $40 million for allegedly operating a $50 million Ponzi scheme that defrauded hundreds of investors, federal prosecutors said Wednesday.

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|Comments Off on Financial Adviser Charged with Fraud

The Securities and Exchange Commission (SEC) charged broker Louis Martin Blazer III with fraud, for stealing money from multiple professional athletes claiming to invest in movie projects.

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|Comments Off on Old Memories Resurface in Scam

Multiple investors were cheated out of $131 million by buying stock in a worthless LED lighting distributor, by another former Stratton Oakmont broker.

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|Comments Off on Variable Annuity Penalty Costs Record $25 Million

The Financial Industry Regulatory Authority (FINRA) levied a record $25 million penalty against MetLife Inc., who agreed to settle a bevy of abuses tied directly to variable annuities.

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|Comments Off on Money Laundering Scheme Ends With Finra Ban

James Van Doren was barred by Finra for deceiving creditors who were trying to recoup assets from a friend’s business.

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