Gregory Bauer Barred By FINRA
FINRA barred former Waddell & Reed Inc. broker Gregory Bauer from the securities industry for making over $400,000 in unauthorized withdrawals from his parents’ accounts. [su_spacer size=”10″] Bauer, was registered with Waddell & Reed from 2004 to 2013. According to the settlement, for numerous years at the firm, Bauer was the registered representative serving his parents […]
Jeffrey Howell Barred From Securities Industry
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Sam Wyly Settles Federal Fraud Charges for $198.1M
Sam Wyly, an ex-Texas billionaire who has declared bankruptcy, will pay $198.1 million to settle federal securities regulator claims accusing him of securities fraud to hide trades in companies that were under his control through the use of offshore trusts. A federal bankruptcy judge in Dallas and the SEC commissioners must still approve the settlement. According to […]
Wells Fargo Facing 401(k) Suit For Cross-Selling
Wells Fargo & Co. is facing more legal trouble after the bank’s recent cross-selling scandal was revealed last month. A participant in Wells Fargo’s 401(k) plan brought suit against the bank for a “material drop” in its stock price following the news of the scandal, described as a “criminal epidemic” that caused hundred of millions […]
SEC Sets Record In Enforcement Actions Against Advisers
The SEC filed a record number of enforcement actions against investment advisers and firms during the past fiscal year, the commission announced. It filed 160 cases against advisers and firms, including 98 standalone cases, rather than follow-up actions or cases based in delinquent regulatory filings. The SEC stated that both numbers are records. [su_spacer size=”10″] The […]
FINRA Bars Jay Jules Gruenebaum
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Mickey Long Banned From Selling Alt. Investments
The Texas State Securities Board has banned broker Mickey Long from recommending alternative investments, including nontraded REITs, after he concentrated a client’s account with too many such investments. The state also suspended him for forty-five days and put him on heightened supervision by his firm, Calton & Associates Inc., for two years. [su_spacer size=”10″]Regulators have […]
SEC Charges Duo For $20M Penny Stock Fraud
The SEC charged an ex-microcap CEO and a boiler room operator with pressuring senior citizens and other investors to purchase penny stocks in a $20 million fraud. Craig V. Sizer is the former CEO of Sanomedics, which supposedly sold non-contact infrared thermometers, and chairman of software applications company Fun Cool Free, according to the SEC. […]
FINRA Bars Broker Douglas Wayne Studer
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Caldwell International Securities To Pay $2M
Caldwell International Securities Corp. will pay roughly $2 million to settle charges that it hurt its investors. Further, the company’s founder, Greg Caldwell, has agreed to be banned from the industry. According to FINRA, Caldwell International will pay a fine of $1 million and an additional $1 million in restitution to investors who lost money […]