(October 4) For those of us tracking the progress of former Eugene, Oregon financial planner Scott McKee through the court system, today the Lane County District Attorney Alex Gardner handed down an indictment with another 37 felony counts against him. The total includes nine counts of aggravated theft in the first degree, one count of…
Continue reading ›(September 27) FINRA has released one of its periodic Investor Alerts, this one called “When Trading Stops: What You Need to Know About Halts, Suspensions and Other Interruptions.” It explains why, when and how regulatory interruptions in securities trading happen. The document addresses both the broad-market “circuit breaker” halts triggered by a percentage drop in…
Continue reading ›(September 25) A case to be decided this year by the U.S. Supreme Court may effectively extend the window of time for potential plaintiffs who suffered losses in the 2008 financial crisis. The case Gabelli et. al. v Securities Exchange Commission hinges on the application of the five-year statutory limitation time clock, called the “discovery…
Continue reading ›(September 24) The Financial Industry Regulatory Authority (FINRA) has censured and fined Merrill Lynch $500,000 for failing to file some 650 required reports, and failing to acknowledge nearly 300 customer complaints, between 2005 and 2011. As the largest independent regulatory agency for securities firms operating in the United States, FINRA protects investors and maintains the…
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