SECLaw - The Law of the Financial Markets from Top Securities Lawyers

FINRA‘s BrokerCheck is a boon for investors and their attorneys, but a real problem for financial professionals.  The concept of disclosing every allegation, justified or not, against a registered person, to anyone who cares to ask, is unheard of in...

The SEC maintains a list of unregistered entities that it alleges uses misleading information to solicit non-US investors. It updated that list yesterday, to add four firms that are impersonating real firms, and 9 bogus firms.
The list, known as the Public Alert: Unregistered Soliciting Entities (PAUSE) list, enables investors to better inform themselves and avoid being a victim of fraud....

The Securities and Exchange Commission filed charges and obtained an asset freeze against the individuals and companies behind a $102 million Ponzi scheme that bilked investors throughout the U.S.
According to the SEC’s press release, the defendants defrauded more than 600 investors through sales of securities in issuers they controlled, including First Nationle Solution LLC, United RL Capital Services, and Percipience Global Corp.  The complaint...

The Securities and Exchange Commission charged Merrill Lynch, Pierce, Fenner & Smith with misleading customers about how it handled their orders.  Merrill Lynch agreed to settle the charges, admit wrongdoing, and pay a $42 million penalty.
According to the SEC’s order, Merrill Lynch falsely informed customers that it had executed millions of orders internally when it actually had routed them for execution at other broker-dealers, including proprietary trading firms and wholesale market...