These should be calculated risks, though; risks based on performance projections of whatever is being invested in.
Though financial investments should not include those unforeseen or unaccounted for risks like fraud, investors are constantly facing it.
This week, the Securities and Exchange Commission (SEC) indicated that it would be calling on a need for more oversight from its financial regulation partner, the Financial Industry Regulatory Authority (FINRA).
The decision to shift responsibility comes with an SEC initiative to devote more energies towards the rise of independent financial advisers.
Investment scams are the last thing people want to worry about following a natural disaster.
Last week, Hurricane Matthew swept along Florida’s east coast on its way to the Carolinas. Major property damage was experienced in northeast Florida, coastal Georgia and North and South Carolina due to flooding.
Natural disasters result in millions of dollars in insurance claims and with that, come the threat of investment scams.
You have a marketable skill or talent and want to start your own business. You have heard the term “LLC” before and you know it has something to do with small-business. You might even know that LLC stands for limited-liability company, but what exactly does that mean?
There are a lot of questions would-be entrepreneurs may have about LLCs. What are they? Why are they needed? Should I form one?
Some of the nation’s top banks are facing another bad week, legally and financially as they are subjected to increased scrutiny and demand for reparations from federal regulators.
Wells Fargo faces a continued inquest into the extent of its accounts fraud scandal as regional and municipal governments, including Hillsborough County, look further into their interests with the banking giant.
The Federal Reserve has decided to leave interest rates alone for the foreseeable future, according to a report from Reuters. Despite the fact that a target rate-hike was announced last December, the Fed has deferred any increases as part of a long-term plan to reignite the U.S. economy.
President of the Minneapolis Federal Reserve, Neel Kashkari, stated that “the U.S. economy has room to grow before it overheats”.
This is an update to a previously posted article – “Wells Fargo Pays Out $190 in Financial Fraud Claim”. Read the full story here.
In the wake of the massive fraud scandal stemming from a sales incentives initiative, Wells Fargo as announced that it is ending the company-wide sales product goals.
The banking giant, ordered to pay $190 million in damages and fines earlier this month, stated that as of Jan. 1, 2017 it would eliminate product sales goals. The decision is an effort by the bank to recoup customer faith and public standing.
Raymond James & Associates along with a Milwaukee-based investment firm, Robert W. Baird & Co. reached a settlement over penalties regarding wrap fee compliance with the Securities and Exchange Commission (SEC) last week.
The SEC had charged the long established St. Petersburg, FL-based investment firm with violating Section 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-7 by failing to comply with stated regulations concerning wrap fees. Raymond James agreed to pay $600,000 in penalties following the settlement, in accordance with SEC orders.
The SEC’s investigation found that Raymond James had failed to establish policies and procedures regarding what commissions are charged to clients when sub-adviser trade their investments with broker-dealers outside wrap fee programs. Wrap fees are comprehensive, straight-forward charges levied by an adviser to a client in exchange for bundled investment services.
Securities Fraud Lawyers Blog