The Securities and Exchange Commission has filed a subpoena enforcement action against 235 limited liability companies (the “LLCs”) based in Delaware and Colorado seeking an order requiring the production of documents. According to the SEC’s application and supporting papers, filed in federal court in Miami: The SEC is investigating whether Woodbridge or others have violated, […]
A Williamsville financial adviser is facing charges that he stole $200,000 from one of his clients. Michael Giokas, founder of Giokas Wealth Advisors, was arrested on fraud charges Wednesday and later released on bail by U.S. Magistrate Judge Michael J. Roemer. Assistant U.S. Attorney Paul E. Bonanno said Giokas led his client to believe the […]
The U.S. Securities and Exchange Commission has approved a proposal from the Financial Industry Regulatory Authority (FINRA) to streamline the process for prospective broker-dealer reps to meet their proficiency requirements, FINRA announced Thursday. The proposal aims to reform the industry exam process, with an eye on expanding opportunities for brokers to enter, or return to, […]
The Securities and Exchange Commission today charged a former broker, his company, and his business partner in an alleged real estate investment scheme utilizing high-pressure sales tactics to pilfer $6 million from retirees and other investors while using the proceeds to fund the broker’s lavish lifestyle and start e-cigarette businesses. The SEC alleges that Leonard […]
According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Bae Keun Yu violated securities laws. Mr. Yu allegedly formed Optima Koam Investment Inc. in September 2013 in order to invest in Korean securities and opened an account at a Korean broker-dealer. He then purchased shares in […]