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So far Richard Frankowski has created 573 blog entries.

FINRA Intends To Probe Brokerages’ Compliance Culture

FINRA intends to investigate whether complying with rules is part of brokerage firms' culture during its examinations this year. The regulatory authority announced on Tuesday that it will more formally scrutinize how firm culture affects compliance and risk management practices. “A firm's culture is both an input to and product of its supervisory system, including its approaches to identifying and managing conflicts of interest and ensuring the ethical treatment of customers,” FINRA said. “This means that firms should take visible actions that help mitigate conflicts of interest and promote the fair and ethical treatment of customers.” Other focus areas for FINRA exams include the management of conflicts of interest in the sale of proprietary products and products the firm is paid to sell, technology, anti-money laundering and firm liquidity. Among the cultural aspects FINRA will investigate are whether compliance is valued at the firm and violations are not tolerated, whether the firm aggressively targets potential compliance problems, whether senior management serves as good role [...]

By |January 5th, 2016|FINRA, Press Releases & News, SEC|
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Alabama Man Indicted On Securities Fraud Charges

Last month, Jesse Morgan Hinson of Troy, Alabama was arrested for alleged violations of the Alabama Securities Act. Hinson turned himself in to Houston County law enforcement officials based on an arrest warrant issued after an October 2015 Houston County Grand Jury returned a four-count indictment. Hinson was released on $75,000 bond pending trial. The indictment charges Hinson with one count of Sale of Unregistered Securities and one count of Sale of Securities by an Unregistered Agent, Class C felonies, punishable by one year and one day to ten years' imprisonment and a $15,000 fine per charge upon conviction. Additionally, the indictment charges Hinson with two counts of Fraud in Connection with the Sale of Securities for making misrepresentations or omissions of material fact to an investor and for engaging in an act, practice or course of business which operates as a fraud or deceit upon an investor. The fraud charges are Class B felonies, punishable by two to twenty [...]

By |January 4th, 2016|Fraud, Press Releases & News|
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FINRA’s Six Tips For Investors In 2016

FINRA wants investors to get off on the right financial foot in 2016 and offers investors these six tips for the new year: If you don’t know where you’re going, any road will take you there. Are your goals current, or have they changed? Setting clear, prioritized goals – each with steps to achieve the goal, a price tag and a time frame – will help guide your investment approach. Focus on your financial security. Take advantage of day-to-day opportunities to help build your finances for the long term, such as benefiting from tax breaks for college savings or retirement; paying your credit-card debt on time and in full; and setting aside some funds for the unexpected. Understand the impact of higher interest rates. Yes, the Fed raised the federal funds rate and might do so again, but that alone might not change your investment strategy. There are several factors to keep in mind as you consider what action, if any, [...]

By |December 31st, 2015|Broker Check, FINRA, Fraud, Press Releases & News|
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Two Colorado Advisers Arrested for Securities Fraud

According to Colorado securities regulators, two men have been arrested in unrelated securities fraud cases. Eddie Johnson of Sterling, Colorado was taken into custody after he was indicted on seven counts of securities fraud and four counts of theft. He is accused of soliciting $162,000 and a car valued at $30,000 from people who believed they were investing in manufacturing companies Johnson owned. William Gardner of Englewood, Colorado was arrested on multiple felony securities fraud and theft charges. He is accused of spending more than $730,000 of his clients' money to cover his own expenses and to pay returns to previous clients, according to a grand jury indictment filed by the Colorado Attorney General. According to Colorado Securities Commissioner Gerald Rome, Johnson told investors that his companies — Overland Trailer Manufacturing and Overland Corp. — were under contract with major sporting goods retailers for the production of trailers. However, Rome's office said, the company did not have the promised contracts [...]

By |December 30th, 2015|Fraud, Press Releases & News|
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Disclaimer: Mr. Frankowski is licensed in Alabama,Florida and Texas. He is not licensed in any other state including Nevada and California. Mr. Frankowski has represented investors from all over the country in securities cases including: Alabama, California, Colorado, Florida, Georgia, Illinois, Kentucky, Louisiana, Mississippi, Nevada, New Mexico New York, North Carolina, Tennessee, Texas.