FINRA fines Wedbush Securities for misrepresentations regarding payments on certain bonds and for failing to deliver required disclosures to thousands of the firm’s customers. The Los Angeles-based wealth management, brokerage and clearing firm, which has 540 registered individuals in 40 branches nationwide, agreed to pay the fines and be subject to censure without admitting or […]
On November 2, 2022, the United States District Court for the District of Delaware entered a final consent judgment against Robert V.A. Harra, Jr., the former President and Chief Operating Officer of Wilmington Trust. The SEC charged Harra and three other defendants in 2015 with fraud for their roles in Wilmington Trust’s making of false or misleading […]
On October 13, 2022, the Securities and Exchange Commission obtained a final judgment against defendants Cetera Advisors, LLC and Cetera Advisor Networks, LLC, whom the SEC previously charged with defrauding their advisory clients by failing to disclose several sources of compensation. According to the SEC’s amended complaint filed on October 11, 2019, in the United […]
U.S. Treasury yields rose Wednesday on weaker demand for fixed income assets as investors awaited the release of the Federal Reserve’s minutes from its July meeting. Investors will be watching for the Fed’s Open Market Committee’s meeting minutes from July 26 and 27, when it decided to raise the target range for the federal funds […]
The Securities and Exchange Commission today announced that it has filed an injunctive action against Manhattan Beach, California-based Desilu Studios, Inc. and its founder, Charles B. Hensley, from Torrance, California for an alleged offering fraud that raised at least $596,360 from investors. The SEC’s complaint alleges that from June 2017 through at least July 2018, Desilu […]