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Concentrated Position Risk Drawing Regulatory Scrutiny

On December 7, 2018, the Financial Industry Regulatory Authority (“FINRA”) issued a comprehensive report (“Report on FINRA Examination Findings”) which “focuses on selected observations from recent examinations that FINRA considers worth highlighting because of their potential significance, frequency, and impact on investors and the markets.” Among the issues discussed in this report were significant concerns […]

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Ex-American Realty executives charged with securities fraud

U.S. prosecutors on Thursday announced criminal fraud charges against two former American Realty Capital Properties Inc executives stemming from a 2014 accounting scandal that wiped out roughly $4 billion of the real estate investment trust’s market value. Former Chief Financial Officer Brian Block, 44, was charged with six criminal counts, including securities fraud, conspiracy and […]

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FINRA fines Berthel Fisher and affiliate $775,000 for supervisory failures

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Berthel Fisher & Company Financial Services, Inc. and its affiliate, Securities Management & Research, Inc., of Marion, Iowa, a combined $775,000 for supervisory deficiencies, including Berthel Fisher’s failure to supervise the sale of non-traded real estate investment trusts (REITs), and leveraged and inverse […]

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Notice to LPL Financial, LLC Customers — Aidikoff, Uhl & Bakhtiari Launches Investigation of non-traded REIT recommendations — LPLA

Aidikoff, Uhl & Bakhtiari announces the launch of an investigation of the sales practices of LPL Financial, LLC in recommending non-traded REITs to their clients.  The investigation follows the recently filed complaint by the Commonwealth of Massachusetts Securities Division into similar non-traded REIT sales practices.  The Massachusetts complaint charged LPL with dishonest and unethical business […]

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Massachusetts files complaint against LPL for non traded REITs

LPL one the largest independent U.S. broker-dealers, was accused by Massachusetts regulators today of dishonest and unethical business practices and failure to supervise agents who made improper sales. The complaint relates to sales of seven non-traded real estate investment trusts in violation of state and company rules, according to a statement from the state’s senior […]

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