IFAwebnews » SEC

SEC issues two alerts over risks posed by advisors using social media

Bob Graham — Tue, 10 Jan 2012 12:01:39 +0000

The U.S. Securities and Exchange Commission issued two alerts pointing out risks investors and advisory firms face when using social media like LinkedIn and Facebook.

SEC issues two alerts over risks posed by advisors using social media via IFAwebnews.

SEC accuses investment advisor of selling fake securities on LinkedIn

Bob Graham — Tue, 10 Jan 2012 10:54:34 +0000

The U.S. Securities and Exchange Commission accused an Illinois-based investment advisor with offering to sell fictitious securities on LinkedIn, the social networking site.

SEC accuses investment advisor of selling fake securities on LinkedIn via IFAwebnews.

SEC says Texas firm defrauded investors in life settlement transactions

Bob Graham — Fri, 06 Jan 2012 17:00:23 +0000

Federal securities regulators say a Texas-based life-settlement firm and three of its senior executives “systematically and materially underestimated the life expectancy estimates,” which in turn caused its shareholders to be “duped.”

SEC says Texas firm defrauded investors in life settlement transactions via IFAwebnews.

‘Dramatic shifts’ from Dodd-Frank mean new advisor ‘importance’

Jaime L. Brockway — Wed, 21 Sep 2011 11:45:52 +0000

“Dramatic shifts” in the investment advisor profession are forecast as advisors prepare for the Dodd-Frank Act, a provision of the federal financial service reform to be enacted next year.

‘Dramatic shifts’ from Dodd-Frank mean new advisor ‘importance’ via IFAwebnews.

Calif. life settlement broker shut down over alleged Ponzi scheme

Bob Graham — Mon, 05 Sep 2011 21:03:43 +0000

A life settlement company and its principal allegedly created a $4.5 million Ponzi scheme that authorities say enabled him to put $21,000 toward his school loans, buy more than $5,000 in cowboy boots and pay nearly $5,000 to register for a dating service.

Calif. life settlement broker shut down over alleged Ponzi scheme via IFAwebnews.

Insurer sues investment firm for ‘shoddy’ mortgage securities

Jaime L. Brockway — Sun, 21 Aug 2011 23:18:56 +0000

A Northbrook, Ill.-based insurer sued Goldman Sachs and its affiliates for allegedly selling the insurer more than $123 million in securities backed by poor-quality mortgages between 2006 and 2007.

Insurer sues investment firm for ‘shoddy’ mortgage securities via IFAwebnews.

SEC: Standards should apply to broker-dealers, investment advisors

Jaime L. Brockway — Mon, 14 Feb 2011 10:37:52 +0000

A U.S. Securities and Exchange Commission (SEC) study recommended that SEC extend the fiduciary standard of care to broker-dealers who provide personalized investment advice.

SEC: Standards should apply to broker-dealers, investment advisors via IFAwebnews.

Pa. lawyers file class action against Texas life settlement firm

Bob Graham — Tue, 08 Feb 2011 10:15:43 +0000

A class-action suit has been filed by purchasers of securities from Life Partners Holdings (LPH), alleging that the Waco, Texas-based company and some of its officers and directors violated securities laws.

Pa. lawyers file class action against Texas life settlement firm via IFAwebnews.

Report: SEC probing Texas firm’s life-expectancy estimates

Bob Graham — Thu, 20 Jan 2011 17:44:38 +0000

The U.S. Securities and Exchange Commission is investigating a Texas-based life settlement company’s estimates for life expectancy.

Report: SEC probing Texas firm’s life-expectancy estimates via IFAwebnews.

FINRA wants to offer all-public panels for arbitration claims

Bob Graham — Wed, 29 Sep 2010 11:18:32 +0000

The Financial Industry Regulatory Authority (FINRA) wants to allow all investors filing arbitration claims the option of having an all-public panel, a move it says will greatly increase investor choice use of the FINRA arbitration program.

FINRA wants to offer all-public panels for arbitration claims via IFAwebnews.