Remote Office Supervision This post is designed to provide a summary of various rules and regulations requiring the establishment and enforcement of supervisory responsibilities over remote activities of a firm’s business activities. It is being presented for educational purposes only and thus, is not designed to be complete in all…
Recently, the Financial Industry Regulatory Authority (FINRA) announced a settled enforcement action against Alan Scot Feigenbaum (CRD #3132230, Boca Raton, Florida). In this action, an AWC was issued in which Feigenbaum was assessed a deferred fine of $15,000 and suspended from association with any FINRA member in all capacities for five…
Recently, the Financial Industry Regulatory Authority (FINRA) issued an Order Accepting Offer of Settlement in which Della Rosa was barred from association with any FINRA member in all capacities. Mr. Della Rosa’s last FINRA association was with Corinthian Partners, LLC. Without admitting or denying the allegations, Della Rosa consented to the sanction and…
The following post provides a general summary of what every investor needs to know about the liquidation of an investment fund. Please keep in mind that this information is being provided for educational purposes only and is not designed to be complete in all material respects. If you have any…
The below referenced FINRA Enforcement Action provides examples of what would constitute a negligent misrepresentations and omissions in any offering. In this particular circumstance, it related to the offering of notes of the parent company of WestPark Capital. WestPark Capital, Inc. (CRD #39914, Los Angeles, California) and Richard Alyn Rappaport…
CONTINGENCY OR BEST EFFORTS OFFERING: Securities and Exchange Act Rules 10-b9 and 15c2-4 contain requirements that must be satisfied in “Contingency” or “Best Efforts” offerings. FINRA (the Financial Industry Regulatory Authority) has provided guidance to broker/dealers regarding the requirements of these rules and to remind broker-dealers of their responsibility to…
The below FINRA Enforcement Action provides a summary of certain issues that broker/dealers must take into consideration when involved in a contingency or best efforts offering. Newbridge Securities Corporation (CRD #104065, Boca Raton, Florida) and Bruce Howard Jordan (CRD #1223556, Boca Raton, Florida): Recently, FINRA announced that a Letter of…
The Neverending Story of Fraudulent Precious Metals Scams For quite sometime, we have attempted to bring to the attention of the investing public, especially seniors, the pitfalls that an investor is exposed to when investing in precious metals of all kinds. The primary area of abuse that retail investors is…
In our digital era, many tasks that used to require face-to-face interaction have moved online. Take banking. Driving to the bank and waiting in line to speak to a teller is no longer necessary for many transactions. Online banking is the way of the future, and many senior citizens are…
When your stockbroker takes your money to invest on your behalf, he or she must follow certain rules and regulations. Investments have regular ups and downs as the market fluctuates. Therefore, you may have to look very closely at your portfolio’s performance, along with charges and fees, to determine that…