SEC Charges

Aegis Capital Corp. Fined $1.3 Million for Anti-Money Laundering and Supervision Rule Violations

Posted on Tuesday, April 17th, 2018 at 12:45 pm    

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 Commission (SEC) fined Aegis Capital Corp. $750,000 in a separate action involving anti-money laundering violations […]

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Barclays Capital Pays $97 Million in Restitution For Overcharging Clients

Posted on Friday, June 9th, 2017 at 10:48 am    

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 2015, according to the Securities and Exchange Commission (SEC). The penalty includes $30 million in […]

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SEC Charges VCAP Securities and Brett Thomas Graham with Committing Fraud During CDO Liquidations

Posted on Friday, February 20th, 2015 at 9:22 am    

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 together agreed to pay almost $1.5 million to settle the SEC’s charges, and Graham is […]

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SEC Charges Compel Morgan Stanley to Pay $275 Million for Misleading Investors in Subprime RMBS Offerings

Posted on Thursday, July 24th, 2014 at 10:34 pm    

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 settlement, which the SEC accepted, wherein Morgan Stanley would pay $275 million to be returned […]

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Erez Law Investigating Claims Regarding AIC Promissory Notes and Stock

Posted on Thursday, October 23rd, 2014 at 9:10 pm    

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 an offering fraud by offering and selling millions of dollars of AIC promissory notes and […]

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