Massachusetts Charges Fidelity With Dishonest And Unethical Behavior
In an administrative complaint, Massachusetts charged Fidelity Brokerage Services with dishonest and unethical behavior for letting unregistered investment advisors perform trades on the Fidelity broker-dealer platform, thus creating fees for both the firm and the unregistered advisors. At minimum, thirteen unregistered Massachusetts investment advisors used Fidelity’s platform, according to William Galvin, secretary of the commonwealth. […]
Alabama Man Sentenced In Securities Fraud Case
Kevin Jerome Brown of Hoover, Alabama is looking at a long probation sentence after pleading guilty to securities fraud, according to authorities. Brown pleaded guilty to one count of securities fraud by employing a device, scheme, or artifice to defraud and one count of acting as an unregistered securities agent in Shelby County Circuit Court […]
New Jersey Group Accused Of Defrauding Investors Out Of $3M
Less than one week after a New Jersey father and son were arrested for an alleged short sale scheme, they became part of a group of six charged in a fraud that bilked investors out of over $3 million. George Bussanich, Sr. and his son, George Bussanich, Jr., are believed to have begun the alleged […]
Broker-Dealers Fined for Wrongful Bond Trades
Broker-Dealers Fined for Bond Trades Violations The SEC charged nearly two dozen companies and individuals who bought and sold securities for a Chicago-based trading firm without registering as a broker-dealer with the SEC as required under the federal securities laws. The securities laws regulating broker-dealer registration ensure the protection of investors by allowing the SEC […]