Skip to main content


Audits of trading systems lessened

U.S. regulators are altering plans for a multibillion-dollar computer system to monitor trades on stock exchanges and other markets to blunt criticism that the project would be expensive and to speed the system’s implementation. The Securities and Exchange Commission won’t require firms to report comprehensive trading information to the agency in real time as originally […]

Read More

Lake Forest Man Sentenced to 12.5 Years in Prison for Ponzi Scheme

Lake Forest resident John E. Walsh, 63, has been sentenced to 12.5 years in federal prison after pleading guilty to fraud charges for operating a Ponzi-type scheme dating back to 2007. Walsh was sentenced just a day before his partner, Charles G. Martin, 46, formerly of Glencoe, was hit with a 17 year prison sentence on […]

Read More

New York Woman indicted for operating Ponzi scheme

Laurie Schneider, of Oceanside, New York, has been indicted for operating Ponzi schemes that defrauded investors of more than $4 million.1 The defendant was arraigned earlier today before United States Magistrate Judge A. Kathleen Tomlinson at the United States Courthouse, 100 Federal Plaza, Central Islip, New York. The charges were announced by Loretta E. Lynch, […]

Read More

FINRA files complaint against Charles Schwab

Wall Street’s own watchdog filed a complaint against Charles SchwabCorp on Wednesday accusing the online brokerage of requiring customers to waive their rights to pursue class actions against the firm, a violation of industry rules. The Financial Industry Regulatory Authority alleged that San Francisco-based Schwab added a new provision in October to more than 6.8 […]

Read More

FINRA amends David Lerner complaint

Despite a pending Finra complaint against his firm, David Lerner has continued to pitch nontraded REITs improperly, according to an amended complaint filed in December by the self-regulator. In the amended filing, the Financial Industry Regulatory Authority Inc. went after Mr. Lerner personally and added more allegations to the original May 2011 complaint against his […]

Read More