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Raymond James set to purchase Morgan Keegan

Raymond James is nearing an agreement to buy Region’s Morgan Keegan brokerage unit for about $930 million in cash.  Raymond James may tap Morgan Keegan Chief Executive Officer John Carson as its president and head of fixed income according to news reports. Adding Morgan Keegan would bring Raymond James one of the top underwriters of U.S. municipal […]

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Operators of real estate programs agree to settle SEC charges

The Securities and Exchange Commission announced today the resolution of an enforcement action filed by the Commission on March 1, 2010 in federal district court in Massachusetts against several Massachusetts-based parties who offered real estate investments. The court entered final judgments by consent against several defendants on January 10, 2012, and the Commission agreed to […]

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SEC to change policy of admission of guilt

The Securities and Exchange Commission, in a fundamental policy shift, said Friday that it would no longer allow defendants to say they neither admit nor deny civil fraud or insider trading charges when, at the same time, they admit to or have been convicted of criminal violations. The change is the first time that the […]

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SEC v. Life Partners Holdings, et al.

The Securities and Exchange Commission today charged Texas-based financial services firm Life Partners Holdings, Inc. and three of its senior executives for their involvement in a fraudulent disclosure and accounting scheme involving life settlements. Life Partners is a Nasdaq-traded company that generates virtually all of its revenues from brokering life settlements. Life settlements involve the […]

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Convicted Ponzi scheme architect may implicate others

 Over two grueling weeks, convicted Florida Ponzi schemer Scott Rothstein laid out in incriminating detail how far the tentacles stretched in his $1.2 billion fraud, pointing the finger at numerous lawyers, bankers, business people, relatives, friends and unnamed law enforcement officials and politicians. The testimony, made public in hundreds of pages of transcripts, could form […]

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