Two securities firms – Citigroup Global Markets and Banc of America Securities¬ will pay nearly $1.3 million to Virginia regulators to settle allegations that they misled investors about the safety …  Read →

A former broker-dealer with Ameriprise and GunnAllen Financial could spend up to 30 years in federal prison after pleading guilty to overseeing a $1.9 million investment fraud scheme.

Jeffrey J. Southard, …  Read →

A Birmingham, Ala., broker-dealer, several of its senior officers and a handful of registered representatives, including two in New York, were charged in connection with “rampant churning of customer accounts” …  Read →

The National Association of Insurance Commissioners is throwing its support behind proposed legislation to reverse a pending move by the U.S. Securities and Exchange Commission to classify indexed annuities as …  Read →

The Obama Administration is looking to tax life insurance firms, securities dealers and large estates to raise money for some of its numerous reforms.

The Treasury Department is looking to raise …  Read →

Fueled by two large-scale Ponzi schemes, securities litigation in the commercial insurance industry is “surging,” according to an analysis of first quarter activity, which showed an increase of 44 cases …  Read →

Two Montana business owners and their companies are accused of committing securities fraud and conducting a $14 million Ponzi scheme involving at least 100 investors.

Monica Lindeen, Montana’s state auditor and …  Read →

A Severna Park, Md., man was fined $118,291 by financial regulators for violating securities regulations on churning and suitability, according to FINRA records.

The man, Brian James Kelly, was a registered …  Read →