Senior citizens would receive additional protection against financial fraud under a bill passed by a House committee last week, reports Financial Advisor. The measure, called the Senior Security Act, was approved unanimously by the House Financial Services Committee....
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Investment Loss
SEC charges Betterment with misstatements on tax loss harvesting service
The Securities and Exchange Commission announced charges against investment advisory firm Betterment LLC over violations related to its automated tax loss harvesting service (TLH), Advisor Hub reports. Under a settlement reached with the commission, Betterment agreed...
FINRA notice warns firms of fraudulent transfers of customer accounts
The Financial Industry Regulatory Authority issued an alert to member firms regarding fraudulent transfers of customer assets. In Regulatory Notice 22-21, FINRA noted a rising trend in such fraud occurring through the Automated Customer Account Transfer Service...
SEC approves FINRA proposal making it harder for brokers to expunge records
The Securities and Exchange Commission has approved a proposal that would make it more difficult for brokers to expunge customer disputes from their records, reports Investment News. The new rule proposed by the Financial Industry Regulatory Authority creates a...
SEC files charges in 3 schemes that defrauded investors out of over $8.4 million
The Securities and Exchange Commission charged a Texas resident and several other defendants in connection with fraudulent investment schemes, reports ThinkAdvisor. The SEC alleged that 48-year-old Aaron Cain McKnight of Dallas orchestrated three separate schemes to...
