Securities Law Related Blogs

Recent Securities Law posts - Justia BlawgSearch.com

Last 20 posts indexed in the Securities Law category on Justia BlawgSearch.com

Rex Securities Law-Nationwide representation of investors seeking recovery of losses due to stockbroker malpractice. May 2018-New City, NY The  press reports that Rockland County businessman and former Securities America stockbroker Hector May is being investigated by federal prosecutors on allegations of stealing his client’s money. According to FINRA records, Hector A. May ,  currently has one customer claim pending that alleges misappropriation of funds and FINRA records also confirm that … Continue reading Hector May-Former Securities America Broker-Investigated Over Missing Client Funds-New City, NY → The post Hector May-Former Securities America Broker-Investigated Over Missing Client Funds-New City, NY appeared first on Rex Securities Law BLOG.
Author: Rex Securities Law
Posted: May 21, 2018, 8:50 pm
KBS REIT II – KBS Real Estate Investment Trust II – Investment Losses The White Law Group continues to investigate FINRA arbitration claims involving KBS REIT II.  Unfortunately for investors it appears that many financial advisors/brokerage firms that sold REITs such as KBS REIT II, may have understated or misrepresented the risks and liquidity problems. According to its filings with SEC, KBS REIT II is a publicly registered non-traded REIT that closed its primary offering in March 2011 after raising $1.8 billion in investor equity. As of December 31, 2017, the REIT’s $1.5 billion portfolio consisted of eight office properties and an office campus consisting of eight office buildings. Secondary Market Listing Price According to Central Trade & Transfer, a secondary market website, shares of KBS REIT II are listed for just $4.05 per share. Unfortunately for many investors, it appears that the secondary market price would represent a significant loss…
Author: Renae Lloyd
Posted: May 21, 2018, 7:18 pm
Statements made in the course of settlement negotiations are inadmissible at trial, per Rule 408 of the NC Rules of Evidence.  But does that dead end to admissibility protect against the production of such items during discovery? No, said Judge Bledsoe, in his Opinion late last month in Duke Energy Carolinas, LLC v. AG Insurance SA/NV, 2018 NCBC 38.  He could have rejected Defendant Duke's claim that communications regarding settlement of ther cases weren't subject to production on this principle: Our courts have long recognized that '[t]he relevancy test for discovery is not the same as the relevancy test for admissibility into evidence.  To be relevant for purposes of discovery, the information [sought] need only be ‘reasonably calculated’ to lead to the discovery of admissible evidence.'  Shellhorn v. Brad Ragan, Inc., 38 N.C. App. 310, 314, 248 S.E.2d 103, 106 (1978); see also N.C. R. Civ. P. 26(b)(1);…
Author: Mack Sperling
Posted: May 21, 2018, 7:11 pm
Recovery of Investment Losses in Black Creek Diversified Property Fund The White Law Group continues to investigate FINRA arbitration claims involving Black Creek Diversified Property Fund f/k/a Dividend Capital Diversified Property Fund. Unfortunately for investors it appears that many financial advisors/brokerage firms that sold REITs such as Black Creek Diversified Property Fund, may have understated or misrepresented the risks and liquidity problems. According to its filings with SEC, the REIT is a Maryland corporation located in Denver, Colorado. The REIT was formed to invest in a diverse portfolio of real property and real estate-related investments. The Company’s targeted investments include direct investments in real properties. They also invest in securities, including securities issued by other real estate companies and mortgage loans secured by income-producing real estate. Secondary Market Listing Price According to Central Trade & Transfer, a secondary…
Author: Renae Lloyd
Posted: May 21, 2018, 7:08 pm
Rex Securities Law-Nationwide representation of investors seeking recovery of losses due to stockbroker malpractice. May 2018-Boca Raton, FL According to FINRA records, Larry C. Wolfe, a former broker who was barred from the securities industry, and who last worked for Stoever Glass & Co. in Boca Raton, FL , discloses 3 prior regulatory events, 7 pending customer disputes , 7 prior customer disputes and a termination from employment. The Financial … Continue reading Larry Wolfe-Former HJ Sims Broker-Subject of Numerous Customer Suits-Boca Raton, FL → The post Larry Wolfe-Former HJ Sims Broker-Subject of Numerous Customer Suits-Boca Raton, FL appeared first on Rex Securities Law BLOG.
Author: Rex Securities Law
Posted: May 21, 2018, 6:40 pm
The Hungarian Parliament Building on the Danube River in Budapest The D&O Diary is on assignment in Eastern Europe this week, with multiple destinations on the itinerary, starting with a weekend stop in Hungary’s capital city of Budapest. With a city population of 1.7 million and an urban population over 3 million, Budapest is a large, sprawling place. The taxi ride from the airport into the central city cuts through some pretty scruffy parts of town, so it was startling to arrive at the river and encounter the Danube’s sweeping beauty as it rolled through the city’s middle.   I have to admit Budapest completely confounded my expectations. I expected to see a lot of crumbling fragments of the Soviet era, along the lines of present day Warsaw, and I also expected to see remnants of Hungary’s long history, comparable to the many monuments and castles from the Middle Ages in central Prague. As it turned out, at least in the center of Budapest,…
Author: Kevin LaCroix
Posted: May 21, 2018, 6:30 pm
Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 17, 2018 indicate that Tennessee-based Raymond James Financial Services broker/adviser Matthew Lawson is involved in a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Lawson (CRD# 2869619). Matthew Lawson has spent 20 years in the securities industry and has been registered with Raymond James Financial Services in Chattanooga, Tennessee since 2012. Previous registrations include LPL Financial in Chattanooga, Tennessee (2007-2012); SunTrust Investment Services in Chattanooga, Tennessee (2005-2007); Amsouth Investment Services in Birmingham, Alabama (2004-2005); and Merrill Lynch in New York, New York (1997-2004). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on May 30, 1997; Series 63 (Uniform Securities Agent State Law Examination),…
Author: Fitapelli Kurta
Posted: May 21, 2018, 5:14 pm
Recovery of Investment Losses in Summit Healthcare REIT Have you suffered losses investing in Summit Healthcare REIT at the recommendation of your financial advisor? The White Law Group may be able to help you recover your losses through FINRA Arbitration. Summit Healthcare REIT, Inc., a Maryland corporation, invests in and owns real estate and is considered a real estate investment trust. According to a recent offer, Mackenzie Realty Capital is purchasing shares of Summit Healthcare REIT for just $1.56/share. Summit Healthcare REIT has not paid distributions since 2011 and the stock repurchase program was suspended as of December 31, 2010. The company has not said if, or when, distributions or redemptions will resume. Investors looking to sell a private placement investment often have difficulty finding a buyer, and can suffer significant losses on the sale. Non-traded REITs are risky. The trouble with non-traded REITs is that they lack liquidity and are inherently risky.…
Author: Renae Lloyd
Posted: May 21, 2018, 5:10 pm
Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 17, 2018 indicate that former California-based AXA Advisors broker/adviser Billy Zhang recently resigned from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Zhang (CRD# 5510158). Billy Zhang has spent nine years in the securities industry and was most recently registered with AXA Advisors in Los Angeles, California (2012-2018). Previous registrations include MetLife Securities in Pasadena, California (2011-2012) and AXA Advisors in Irvine, California (2008-2011). He has passed five securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on November 27, 2010; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on August 30, 2008; Series 7 (General…
Author: Fitapelli Kurta
Posted: May 21, 2018, 5:00 pm
Public records provided by the Financial Industry Regulatory Authority (FINRA) on May 17, 2018 indicate that former Florida-based Investacorp broker/adviser Keith Singer, who has received a pending customer dispute, was discharged from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Singer (CRD# 2793302). Keith Singer has spent 21 years in the securities industry and was most recently registered with Investacorp in Boca Raton, Florida (2015-2018). Previous registrations include Kovack Securities in Boca Raton, Florida (2014-2015); Argentus Securities in Boca Raton, Florida (2003-2014); Financial Counseling Corporation in Houston, Texas (2008); Jefferson Pilot Securities Corporation in Fort Wayne, Indiana (2002-2003); MetLife Securities in Springfield, Massachusetts (2001-2002); Metropolitan Life Insurance Company in…
Author: Fitapelli Kurta
Posted: May 21, 2018, 4:53 pm
Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 17, 2018 indicate that Florida-based Gradient Securities broker Jack Owens has received resolved or pending customer disputes. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Owens (CRD# 2240940). Jack Owens has spent 23 years in the securities industry and has been registered with Gradient Securities in Lady Lake and Bonita Springs, Florida since 2009. Previous registrations include Traderight Securities in Naples, Florida (2007); Legacy Financial Services in Naples, Florida (2000-2007); Securities America in La Vista, Nebraska (1996-2000); and Pruco Securities Corporation in Newark, New Jersey (1992-1996). He has passed one securities industry examination: Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on July 28, 1992. He is a registered broker with two US states: Florida and Ohio.…
Author: Fitapelli Kurta
Posted: May 21, 2018, 4:36 pm
Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on May 17, 2018 indicate that Ohio-based AXA Advisors broker/adviser Garnet Wahlund has been involved in resolved or pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Wahlund (CRD# 2685273). Garnet Wahlund has spent 22 years in the securities industry and has been registered with AXA Advisors in Cincinnati, Ohio since 2010. Previous registrations include ProEquities in Cincinnati, Ohio (2004-2010); American General Securities in Phoenix, Arizona (2002-2004); and Franklin Financial Services Corporation in Houston, Texas (1996-2002). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on December 14, 1998; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on July 24, 1998; Series 6 (Investment Company Products/Variable…
Author: Fitapelli Kurta
Posted: May 21, 2018, 4:29 pm
Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 17, 2018 indicate that Ohio-based MML Investors Services broker/adviser Mark Cramer is involved in a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Cramer (CRD# 1313587). Mark Cramer has spent thirty-three years in the securities industry and has been registered with MML Investors Services in LaRue, Ohio since March 2017. Previous registrations include MSI Financial Services in LaRue, Ohio (1984-2017) and Metropolitan Life Insurance Company in Marion, Ohio (1984-2007). He has passed one securities industry examination: Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on December 4, 1984. He is a registered broker and investment adviser with two US states: Florida and Ohio. According to his BrokerCheck report, he has received one pending customer complaint and…
Author: Fitapelli Kurta
Posted: May 21, 2018, 4:18 pm
Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on May 18, 2018 indicate that former New Jersey-based Buckman Buckman & Reid broker/adviser Ron Ison, who has received customer disputes, has been sanctioned by FINRA and barred from acting as a broker or otherwise associating with a broker-dealer firm. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Ison (CRD# 2897782). Ron Ison has spent seventeen years in the securities industry and was most recently registered with Buckman Buckman & Reid in Little Silver, New Jersey (2010-2018). Previous registrations include Mercer Capital in New York, New York (2006-2010); Globalvest Group in Chicago, Illinois (200); Assent LLC in Geneva, Illinois (2003); Andover Capital Partners in Geneva, Illinois (2003); Andover Brokerage in Montebello, New York (2002-2003); GT Jeffers & Company in Tamarac, Florida (2002); TD Waterhouse Investor…
Author: Fitapelli Kurta
Posted: May 21, 2018, 1:44 pm
On 18 May 2018, the Joint Money Laundering Steering Group (JMLSG) published revised versions of two of the sectors in Part II of its Guidance – 12: Asset Finance and 17: Syndicated lending – on the prevention of money laundering and the financing of terrorism for the UK financial services industry. The JMLSG state that there are no changes from the revised text that was issued for comment.
Author: Simon Lovegrove
Posted: May 21, 2018, 1:25 pm
Public records published by the Financial Industry Regulatory Authority (FINRA) on May 18, 2018 indicate that Alabama-based Synovus Securities broker/adviser Jonathan Duke has received a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Duke (CRD# 1319561). Jonathan Duke has spent 33 years in the securities industry and has been registered with Synovus Securities in Birmingham and Tuscaloosa, Alabama since 2005. Previous registrations include Southtrust Securities in Birmingham, Alabama (1986-2005); Liberty Securities Corporation in Purchase, New York (1998-2000); Independent Financial Securities (1996-1998); IDS Financial Services (1984-1986); and IDS Marketing Corporation (1984-1986). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on March 17, 2005; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on…
Author: Fitapelli Kurta
Posted: May 21, 2018, 1:25 pm
On 18 May 2018, there was published in the Official Journal of the EU (OJ), Commission Delegated Regulation (EU) 2018/728 of 24 January 2018 supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards for procedures for excluding transactions with non-financial counterparties established in a third country from the own funds requirement for credit valuation adjustment risk. The Commission Delegated Regulation enters into force on the twentieth day following its publication in the OJ. The Commission Delegated Regulation specifies the procedures under which an institution may exclude from its own funds requirement for credit valuation adjustment risk transactions with a non-financial counterparty established in a third country.
Author: Mark Chalmers
Posted: May 21, 2018, 1:24 pm
On 18 May 2018, there was published in the Official Journal of the EU (OJ), Commission Implementing Regulation (EU) 2018/688 of 23 March 2018 amending Implementing Regulation (EU) 2016/2070 as regards benchmarking portfolios, reporting templates and reporting instructions. The Commission Implementing Regulation amends Implementing Regulation (EU) 2016/2070 (which supplements the CRD IV by setting out the information that institutions have to report to the European Banking Authority and to Member State competent authorities in order to enable the assessment of internal approaches for calculating own funds requirements) by replacing article 7(3) and annexes I to VI. The Commission Implementing Regulation enters into force on the twentieth day following its publication in the OJ.
Author: Jack Prettejohn
Posted: May 21, 2018, 1:23 pm
Texas Spearheads US-Canada Probe of Cryptocurrency Investments (TSSB Press Release)https://www.ssb.texas.gov/news-publications/texas-spearheads-us-canada-probe-cryptocurrency-investmentsOn the heels of the North American Securities Administrators Association (NASAA) May 1st launch of its  “Operation Cryptosweep,” the Texas State Securities Board has joined over 40 U.S. state and Canadian regulators in the investigation of fraudulent cryptocurrency-related investment products. In December 2017 TSSB started a four-week investigation into cryptocurrency offerings that provided the framework for the NASAA sweep. In addition to the 10 orders, TSSB is investigating over 60 suspect offerings in which promoters are allegedly attempting to capitalize on the hype and excitement as...
Posted: May 21, 2018, 12:43 pm
By John M. Jascob, J.D., LL.M. The Council of Institutional Investors (CII) has again written to companies that are about to engage in initial public offerings to express concerns about their multi-class share structures. In separate but similar letters to independent directors of GreenSky, Inc. and Pluralsight, Inc., CII wrote that the dual-and tri-class voting structures employed by the two companies, respectively, would severely limit long-term accountability to public shareholders. Accordingly, CII urged the companies to reconsider using their unequal voting rights structures as public companies, or, failing that, to incorporate sunset provisions that revert to one share, one vote within seven years. CII noted that under GreenSky's unequal voting structure, holders of Class B shares will carry super-voting rights that entitle them to ten votes per share. Under Pluralsight’s structure, the Class C shares owned by co-founder, CEO, and Chairman Aaron Skonnard will…
Author: John Jascob
Posted: May 21, 2018, 12:00 pm




You may also be interested in:



Mark J. Astarita, Esq. represents investors, financial professionals and firms in litigation, arbitration and regulatory matters across the country. He is a partner in the national securities law firm of Sallah Astarita & Cox, LLC and can be reached by email at mja@sallahlaw.com or by phone at 212-509-6544.

Follow us on Twitter, Facebook and The Securities Law Blog .