A crackdown on clandestine messaging by traders and dealmakers on Wall Street appears to coincide with a string of WhatsApp enforcement actions in the brokerage industry from the Financial Industry Regulatory Authority. Finra this year alone has sought sanctions three...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: July 2022
UBS to pay $25 million to settle SEC charges involving options trading strategy
The Securities and Exchange Commission said that UBS Financial Services Inc. has agreed to pay about $25 million to settle fraud charges involving its Yield Enhancement Strategy known as YES, reports AdvisorHub. According to the SEC’s order, UBS marketed and sold YES...
SEC charges credit ratings firm and CEO with violating conflict of interest rules
The Securities and Exchange Commission announced it has charged a Pennsylvania based credit ratings firm and its founder with violating certain conflict of interest provisions. The firm, Egan-Jones Ratings Company, is a nationally recognized statistical rating...
NJ authorities accuse development firm of nationwide real estate fraud
The New Jersey Bureau of Securities took action against a company it said was responsible for a massive nationwide securities fraud, reports AdvisorNews. The state regulators issued a summary cease-and-desist order to National Realty Investment Advisors, LLC (NRIA),...
SEC to propose new rules on digital engagement practices used by firms
Following a review of digital engagement practices used in the financial industry, the Securities and Exchange Commission plans to propose new rules in this area, according to ThinkAdvisor. The SEC has expressed concern over how game-like features and other tools...
