The Securities and Exchange Commission has charged Fundrise Advisors LLC of Washington, D.C. for a violation of the cash solicitation rule, according to a report by Financial Advisor. Fundrise, an investment advisor, agreed to a $250,000 civil penalty to settle the...
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Broker Misconduct
SEC obtains injunction, asset freeze in pre-IPO stock fraud case
The Securities and Exchange Commission announced that it has obtained emergency relief to halt a stock fraud scheme by an unregistered broker-dealer. The SEC took the action against New York City-based Legend Venture Partners LLC, accusing the firm of orchestrating a...
Broker suspended by FINRA over inaccurate notes on customer calls
The Financial Industry Regulatory Authority suspended a New York broker over violations related to his documentation of his telephone conversations with clients, according to AdvisorHub. FINRA took the enforcement action against Derek John Rehill over notes compiled...
Barred NY investment broker indicted on stock fraud charges
Prosecutors announced the indictment of a barred New York investment broker accused of stealing from clients in a stock fraud scheme, reports InsuranceNewsNet. 57-year-old Peter Quartararo of Glen Cove, Long Island was arraigned earlier this month on five counts of...
Former broker sentenced to prison for conspiring to defraud elderly investors
A former stockbroker who was convicted of conspiring to defraud elderly investors has been sentenced to federal prison, InsuranceNewsNet reports. 69-year-old Lawrence Isen, who prosecutors said participated in a scheme to promote and manipulate the price of shares in...
