FINRA Proposes New Expungement Procedures - Comment Period Expires: February 5, 2018 FINRA seeks comment on establishing a roster of arbitrators with additional training and specific backgrounds or experience from which a panel would be selected to decide an associated person’s request for...

SEC Stops Coin Offering - The Securities and Exchange Commission obtained an emergency asset freeze to halt a fast-moving Initial Coin Offering (ICO) fraud that raised up to $15 million from thousands of investors since August by falsely promising a 13-fold profit in less...

UBS Quits the Broker Protocol - It looks like the  Protocol for Broker Recruiting ,  the agreement which put an end to expensive suits between brokers and firms, is falling apart. Having represented firms and brokers in those injunctive actions, and in the ensuing...

SEC Report on Priorities and FY 2017 Results - The SEC's Enforcement Division has released a report highlighting its priorities for the coming year as well as a review of enforcement actions that took place during FY 2017. The Press Release:  SEC Enforcement Division Issues Report on...

SEC News - Fraud, Investment Scam, and a Million Dollar Award - Former Private Equity Firm Partner Charged With Secretly Billing Clients for His Vacations and Salon Visits A former senior partner at Apollo Management L.P. has been charged with defrauding his fund clients by secretly billing them for...

UBS Ordered to Pay Florida Broker $3 Million for Defamation - AdvisorHub - The unlawful terminations of brokers, and then U-5 defamation, has been with us for decades. FINRA's decision to place unfounded, unproven and unsworn allegations on its website has only made matters worse. UBS is probably one of the worse...

How Long Does an SEC Investigation Take? - One of the first questions my clients ask when faced with a subpoena from the SEC is how long is this going to take? While I hate to give the typical lawyer answer, that answer is, "it depends." It depends on the case. Investigations where the SEC...

SEC Announces 2017 Government-Business Forum to Be Held at University of Texas at Austin - The Securities and Exchange Commission today announced it is partnering with the Herb Kelleher Center for Entrepreneurship, Growth, and Renewal at the McCombs School of Business at The University of Texas at Austin to host the SEC’s annual...

Rio Tinto, Former Top Executives Charged With Fraud - The Securities and Exchange Commission today charged mining company Rio Tinto and two former top executives with fraud for inflating the value of coal assets acquired for $3.7 billion and sold a few years later for $50 million. The SEC’s...

State-level fines and penalties hit 5-year high - State-level fines and penalties hit 5-year high "The SEC has begun to work with the Department of Labor on a fiduciary rule proposal to harmonize the standards of conduct for advisors and broker-dealers, Jay Clayton, the agency's chairman, told...

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