News

Several brokerage firms have been selling customers a supposedly conservative investment strategy offered through Harvest Volatility Management that apparently wasn’t so conservative after all. In fact, Harvest engaged in speculative options trading pursuant to a Collateral Yield Enhancement Strategy that resulted in significant losses. Multiple brokerage firms – including Morgan Stanley, Fidelity, J.P. Morgan, and [...]

Below is a roundup of some of the most noteworthy enforcement actions the SEC and FINRA brought in 2019. The SEC brought 862 enforcement actions in Fiscal Year 2019, according to a report by the SEC’s Division of Enforcement. FINRA hasn’t released its 2019 data yet. If you have been a victim to misconduct similar [...]

The FINRA Investor Education Foundation recently released a new research study, finding that investors have low knowledge of important investing principles. The FINRA Foundation further found that many investors are perplexed or unsure about the fees charged in their investment accounts. Approximately one-third of investors believe they do not pay any fees for their accounts [...]

The Securities and Exchange Commission recently charged investment advisor International Investment Group LLC (IIG) with securities fraud for hiding losses in its hedge fund and selling at least $60 million in fake loan assets to clients. The SEC also has revoked IIG’s registration. The SEC alleges that IIG artificially inflated the value of defaulted loans [...]