FINRA will require a new exam called the series 79 exam for all investment banking professionals. We will keep you up to date on this new development as more information becomes available. Please see the press release below for more detail.
****
New FINRA Examination Will Focus on the Distinctive Securities Activities of M&A Brokers and Investment [...]
SEC Issued Order Against WealthWise, LLC and Jeffrey A. Forrest For Violations of the Securities Act
On May 15th, 2009, theSEC issued an order of permanent injunction against defendant Jeffrey A. Forrest pursuant to the civil action entitled Securities and Exchange Commission v. WealthWise, LLC, et al. The orrder revokes WealthWise’s registration as an investment adviser [...]
Court Orders Disgorgement and Prejudgment Interest Against Defendant Michael Lauer
On May 19, 2009, the U.S. District Court of the Southern District of Florida entered an order requiring Lauer to disgorge all money he ultimately received, based on the fraudulent conduct he demonstrated in his hedge fund scheme.
The following SEC release reprinted in full, can be [...]
SEC Charges Invest Relations Account Executives for Tipping Confidential Information
“Insider trading” refers generally to buying or selling a security, in breach of a fiduciary duty or other relationship of trust and confidence, while in possession of material, nonpublic information about the security. Insider trading violations may also include “tipping” such information, securities trading by the [...]
SEC Charges Broker With Operating as Unregistered BD
One of the more important issues for people in the securities industry is that they should be very aware not to act as an unlicensed broker. This generally means that a person should not accept compensation for brokering a deal (bringing together buyers and sellers of a security) [...]