Regulators and Enforcement Archives - Stoll Berne | Attorneys | Class-Action, Securities, IP, Real Estate, Business Litigation

SEC Issues Wrap Fee Risk Alert

July 29, 2021

The SEC’s Division of Examinations issued a Risk Alert about wrap fee programs used by investment advisers. Wrap fee programs require advisory clients to pay a consolidated fee for investment advisory services and other expenses, such as commissions, trading fees, and administrative costs.

Categories: Investor Alerts, Investor Blog, Laws and Regulations, Regulators and Enforcement

SEC Intends to Increase Performance-Based Fee Thresholds

May 12, 2021

The SEC gave notice of intent to issue an order that would increase the minimum assets under management or net worth that a client must have before an investment adviser may charge performance-based fees.

Categories: Investor Alerts, Investor Blog, Laws and Regulations, Regulators and Enforcement

TK Keen Named Administrator of Oregon’s Division of Financial Regulation

January 6, 2021

The Oregon Department of Consumer and Business Services (DCBS) and its Division of Financial Regulation (DFR) announced that TK Keen, who has been serving as the acting administrator of DFR, has been officially appointed administrator of the division.

Categories: Investor Blog, Regulators and Enforcement

New Requirements Before Registered Representative May Be Named a Customer’s Beneficiary

November 3, 2020

In an October 29, 2020, regulatory notice, FINRA announced the adoption of a new rule that creates new requirements before any person associated with a firm regulated by FINRA obtains power of attorney or is named a beneficiary, executor, or trustee for or on behalf of a customer.

Categories: Investor Blog, Laws and Regulations, Regulators and Enforcement

SEC Declines to Implement Vetting Requirements for Investors in Leveraged and Inverse Exchange-Traded Funds

October 29, 2020

The Wall Street Journal reported that the SEC is not moving forward on a measure to require broker dealers and investment advisers to vet individual investors before permitting them to trade leveraged and inverse exchange-traded funds.

Categories: Investor Blog, Laws and Regulations, Regulators and Enforcement

Metals.com Accused of Selling Fraudulently Overpriced Gold and Silver Bullion

September 29, 2020

Metals.com and its parent company, TMTE, Inc., along with Chase Metals, LLC, Chase Metals, Inc., Barrick Capital, Inc., and its principals Lucas Asher (aka Lucas Thomas Erb, aka Luke Asher) and Simon Batashvili are alleged to have run a nationwide fraud that brought in more than $185 million in money from customers to buy fraudulently overpriced gold and silver bullion.

Categories: Investigations, Investor Alerts, Investor Blog, Laws and Regulations, Regulators and Enforcement

Free Tools to Research Investment Firms and Individuals

September 17, 2020

Investors have access to free electronic search tools through self-regulatory organizations, federal, and state regulators to research investment firms and professionals. This post describes several free tools that give access to information beyond what you can learn using Google and other search engines.

Categories: Investor Alerts, Investor Blog, Laws and Regulations, Regulators and Enforcement

Federal Appellate Court Upholds FINRA Rules

August 13, 2020

The Fourth Circuit Court of Appeals recently confirmed that a violation of FINRA rules can be a breach of an agreement between an investor and a broker-dealer.

Categories: Investor Blog, New Decision, Regulators and Enforcement

Applied Bioscience Corp. Charged with Antifraud Violation

June 22, 2020

The U.S. Securities and Exchange Commission (“SEC”) filed a complaint for fraud against Applied Bioscience Corp. in May 2020. The SEC alleges that Applied Biosciences Corp. sought to exploit the COVID-19 pandemic for profit.

Categories: Investor Blog, Laws and Regulations, Regulators and Enforcement

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SEC Issues Wrap Fee Risk Alert

SEC Intends to Increase Performance-Based Fee Thresholds

TK Keen Named Administrator of Oregon’s Division of Financial Regulation

New Requirements Before Registered Representative May Be Named a Customer’s Beneficiary

SEC Declines to Implement Vetting Requirements for Investors in Leveraged and Inverse Exchange-Traded Funds

Metals.com Accused of Selling Fraudulently Overpriced Gold and Silver Bullion

Free Tools to Research Investment Firms and Individuals

Federal Appellate Court Upholds FINRA Rules

Applied Bioscience Corp. Charged with Antifraud Violation