Articles
SEC Charged Ribotsky and The NIR Group, LLC, a Long Island-based Investment Advisor, With Fraud and Misappropriation of Funds
On September 28, 2011, the Securities and Exchange Commission (“SEC”) charged Corey Ribotsky, an unregistered investment adviser based in Long Island, New York, with fraud and misappropriation of more than $1 million in client assets. The SEC alleged violations under...
North California-based Investment Advisors Charged With Fraud
On Septemaber 23, 2011, the Securities and Exchange Commission (SEC) charged Jason G. Rivera, Jr., Marc C. Harmon, and Rivera’s companies Joseph Rene Corporation (JRC) and Executive Members Management Group (EMMG) with fraud for luring investors into fraudulent...
Judge Dismisses All Claims Against Merkin and his Auditors in Connection with the Madoff Scandal
On September 23, District Judge Deborah A. Batts of the Southern District of New York handed down her decision to dimiss all claims against J. Ezra Merkin ("Merkin"), the hedge funds ("Funds") that he managed, and the auditors of the Funds. Judge Batts grounded her...
Does Anyone Else Wonder Why Broker-Dealers Refuse to Act in the Best Interests of Their Customers?
There has been plenty of debate in Washington over whether broker-dealers should be subject to the same legal standard as registered investment advisers -- this is the so-called "fiduciary rule." Plainly stated (and without reference to differences is federal and...
So You Think You’re Investment Account is Safe at Citigroup? Think Again!
FINRA Fines Citigroup $500,000 for Failing to Supervise Sales Assistant Who Misappropriated Customer Funds The Financial Industry Regulatory Authority (FINRA) recently announced that it has fined Citigroup Global Markets, Inc. $500,000 for failing to supervise Tamara...
Beware of Gold Scams
With the price of gold bullion at record levels, there has been a proliferation of blogs, websites, YouTube videos and Tweets centered on investing in gold. And while there are legitimate gold investments discussed online, Financial Industry Regulatory Authority...
FINRA Fines Five Broker Dealers for Improper Handling Fees
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined five broker-dealers for understating the amount of total commissions charged to customers in trade confirmations and on fee schedules by mischaracterizing a portion of the commission...
List of Certain Broker-Dealers
Investmentnews.com published a list of certain broker-dealers, and it included some detailed information on each of these broker-dealers. If you have an account at one of these broker-dealers and would like a free consultation concerning your account, please call...
48% of Middle Income Baby Boomers Are Not Comfortable Making Investment Decisions
According to a new report from the Insured Retirement Institute, 48% of middle income baby boomers are not comfortable making investment decisions. Additionally, the report stated that 43% have contacted an investment adviser. These figures are astounding because many...
Reverse Mortgages: Recent Lawsuits Raise Concerns Over Mortgagor Conduct
The article below discusses recent lawsuits filed against Wells Fargo and Fannie Mae for refusing to abide by contract terms and allow heirs to purchase property at the appraised value rather than the mortgage balance. If you have any concerns about your reverse...