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FSC Securities Corp Hit With $1.28 Million FINRA Arbitration Award Arising Out Of Ponzi Scheme Featured On “American Greed”.

By Erwin J. Shustak, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, August 28, 2015.

FSC Securities Corp. has been assessed $1.28 million by a FINRA arbitration panel for losses sustained by several investors who were swindled by con man Aubrey Lee Price […] Read More

Citigroup Pays $180 Million to Settle Charges Tied to Two Smith Barney Hedge Funds

By Erwin J. Shustak, Esq. of Shustak Reynolds & Partners, P.C. posted on Tuesday, August 18, 2015.

Citigroup, Inc. has agreed to pay $180 million to settle charges brought by the SEC which alleged the firm improperly marketed and sold through private bankers […] Read More

Edward Jones Pays $20 Million to Settle Claims it Overcharged Clients on Bonds

By Erwin J. Shustak, Esq. of Shustak Reynolds & Partners, P.C. posted on Thursday, August 13, 2015.

Edward Jones, which has over 14,000 brokers and more than 7 million customers, agreed to pay $20 million to settle SEC charges […] Read More

Texas AG in Hot Water for Alleged Securities Fraud

By Katherine S. DiDonato, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, August 7, 2015.

On Monday, Texas Attorney General Ken Paxton surrendered at the Collin County Jail and was charged with two first-degree felonies for securities fraud […] Read More

Goldman Sachs Faces $1.8 Million Fine for Trade Reporting Failures

By Jessica H. Antoniades, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, July 31, 2015.

This week, the Financial Industry Regulatory Authority (FINRA) announced it has fined Goldman Sachs Execution & Clearing, L.P. $1.8 million for violations relating to trade reporting, failing to submit accurate trade reports and related supervisory failures […] Read More

What Do Flip Flops, a Halloween Party and Bad Language Have In Common? One Fired Broker…

By George C. Miller, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, July 24, 2015.

Until July 2015, Marc Lowe was a top-producing financial advisor based in Bank of America Merrill Lynch’s Los Angeles offices. He reportedly was part of a top producing team at Merrill, […] Read More

Major SEC Enforcement Action Shows the Twists Challenging the use of Administrative Proceedings

By Jeffrey T. Petersen, Esq. of Shustak Reynolds & Partners, P.C. posted on Monday, July 20, 2015.

We previously reported here [Hill, 6-19-15 post] on what is currently the only case where an SEC administrative proceeding has been enjoined by a district court on constitutional grounds, […] Read More

Update on Recent Court Rulings In Challenges to SEC Administrative Proceedings

By Jeffrey T. Petersen, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, July 17, 2015.

We previously reported here on the SEC administrative proceeding against New York financier Lynn Tilton and her private equity firm, Patriarch Partners, […] Read More

Senate Proposes Substantial Increases In SEC Fines For Fraudsters

By Erwin J. Shustak, Esq. of Shustak Reynolds & Partners, P.C. posted on Friday, July 10, 2015.

The price for being a securities fraudster may be increasing substantially. The U.S. Senate proposed substantial increases in SEC fines, […] Read More

Regulators To Increase Scrutiny Of Barred Brokers With Insurance Licenses

By Dennis A. Stubblefield, Esq.and Paris Novinni of Shustak Reynolds & Partners, P.C. posted on Friday, June 26, 2015.

State regulators are setting their sights on barred securities brokers who continue to sell insurance and other financial products […] Read More