In March 2018, FINRA fined Aegis Capital Corp. $550,000 for failing to have adequate supervisory and anti-money laundering (AML) programs tailored to detect “red flags” or suspicious activity connected to its sale of low-priced securities. Additionally, the Securities and Exchange … Continue reading
In May 2017, Barclays Capital agreed to a $97 million settlement alleging that its Wealth and Investment Management Americas units sold to Stifel Financial overcharged more than 24,000 clients by $50 million in advisory fees between September 2010 and December … Continue reading
The Securities and Exchange Commission recently announced charges against New York City-based brokerage firm VCAP Securities and its CEO, Brett Thomas Graham, for fraudulently deceiving other market participants while conducting auctions to liquidate collateralized debt obligations (CDOs). VCAP and Graham … Continue reading
Erez Law is investigating claims regarding claims regarding AIC promissory notes and stock. In a 2011 complaint filed by the SEC against AIC, Inc., Community Bankers Securities, LLC, and Nicholas D. Skaltsounis, the SEC alleged that Skaltsounis devised and orchestrated … Continue reading
The Securities and Exchange Commission recently charged three Morgan Stanley entities with misleading investors in a two residential mortgage-backed securities (RMBS) securitizations that the firms underwrote, sponsored, and issued. In anticipation of the charges, Morgan Stanley submitted an offer of … Continue reading