The Securities and Exchange Commission today charged the former president of a Marin, California real estate development and management company with operating a fraudulent Ponzi scheme and misappropriating over $26 million from more than 1,300 investors – many of whom were elderly and retired. According to the SEC’s complaint, from September 2015 through May 2020, Lewis […]
he Securities and Exchange Commission today announced that Interactive Brokers LLC will pay an $11.5 million penalty to settle charges it repeatedly failed to file Suspicious Activity Reports (SARs) for U.S. microcap securities trades it executed on behalf of its customers. In parallel actions, the Financial Industry Regulatory Authority (FINRA) and the Commodity Futures Trading […]
The Securities and Exchange Commission today announced settled charges against broker-dealer UBS Financial Services Inc. for failing to report suspicious transactions in customer accounts. UBS agreed to pay a $5 million civil penalty to resolve the SEC’s charges, and separately agreed to pay $10 million to the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) […]
On May 15, 2020, the Financial Industry Regulatory Authority (FINRA) issued a Regulatory Notice (“Oil-Linked Exchange-Traded Products”), which highlighted the fact that Exchange-Traded Products (ETPs), which provide different types of exposure to the oil market through several product structures, might not be understood by investors or investment professionals and that the performance of such products […]