Blog
Joseph C. Farah – Gold Coast Securities, Inc. – Irvine, California
June 15, 2017
FINRA charged Gold Coast Securities (Irvine, CA) broker Joseph C Farah with churning, excessive trading, suitability, undisclosed outside business activities, material misrepresentations, and additional violations and failures related to discretion, according to a Department of Enforcement complaint filed with FINRA’s Office of Hearing Officers. According to the charges, Farah created significant risks that were incompatible […]
Read More
Barclays to Pay $97 Million for Overcharging Clients
The Securities and Exchange Commission today announced an enforcement action requiring Barclays Capital to refund advisory fees or mutual fund sales charges to clients who were overcharged. In a settlement of more than $97 million, Barclays agreed to settle three sets of violations that resulted in clients being overbilled by nearly $50 million. The SEC’s […]
Read More
Oppenheimer Orchestrates Management Shift in Los Angeles
May 1, 2017
Richard Wisely, who has managed Oppenheimer & Co.’s shifting fortunes as manager of its Los Angeles-area office under several ownership structures, has stepped aside, a spokeswoman said. Wisely, who has been with Oppenheimer & Co. and predecessor companies since 1984, is handing the reins of the New York-based firm’s approximately 50-broker office in Westwood office to […]
Read More
SEC Charges Businesswoman with Operating a Fraudulent Promissory Note Scheme
April 5, 2017
The Securities and Exchange Commission today announced fraud charges against a Niles, Illinois businesswoman accused of misappropriating investor funds. The SEC’s complaint, filed in federal court in the Northern District of Illinois, alleges that Lucita A. Zamoras solicited investors for a promissory note program and subsequently misappropriated the investors’ funds. From at least October 2009 […]
Read More
SEC Obtains TRO and Asset Freeze in Investment Scheme Involving Seniors
March 30, 2017
The Securities and Exchange Commission today announced an emergency asset freeze and temporary restraining order against a Chicago-based investment adviser and his financial management company accused of scamming elderly investors out of millions of dollars. The SEC alleges that Daniel H. Glick and his unregistered investment advisory firm Financial Management Strategies (FMS) provided clients with […]
Read More