gate with private sign

Private placements – great for broker, not so much for investor

June 25, 2018

Private Placements – what are they? Private placements can be stocks, limited partnership interests, or other securities issued by companies that are not publicly traded. Private placements can be investments in things like a single apartment complex, a single oil well, a basket of properties or oil wells, or a biotech company. The companies issuing these securities do not have to comply with many federal securities laws such as publicly filing their quarterly and annual financial statements. They are not required to provide ongoing disclosures to investors like public companies are. You cannot sell these securities on exchanges like the NASDAQ or NYSE when you need money.

Read more
digital coins

When is a cryptocurrency a security – remarks of SEC Chairman

June 10, 2018

When is a cryptocurrency a security? When is a cryptocurrency a security? The cryptocurrency industry has been looking for clear guidance from regulators for some time. Recently, SEC Chairman Jay Clayton in an interview with CNBC has clarified this question.

Read more
wheelchair

Disability Law for Land Use & Zoning Decisionmakers

May 14, 2018

Legislators and others making zoning and land use decisions should ensure that their decisions comply with applicable disability law. While local government officials often have read zoning ordinances, they rarely have read applicable disability laws or even read about them. Given that an estimated 20-30 percent of families have a member with a disability, that is no longer acceptable.

Read more
SEC seal

Regulation Best Interest is really Regulation Status Quo

April 24, 2018

Regulation Best Interest ? Under the SEC’s proposed Regulation Best Interest, the SEC says a broker-dealer would be required to act in the best interests of a retail customer when making a recommendation of any securities transaction or investment strategy involving securities to a retail customer. This is the SEC’s plan to displace the Department of Labor’s uniform fiduciary standard for retirement accounts which was adopted after YEARS of analysis.

Read more
Bernie Madoff

Madoff ponzi scheme victims to recover more

April 12, 2018

$504 million more to victims of Madoff ponzi scheme. Madoff ponzi scheme victims are to receive another $504 million from assets that government seized after the collapse of one of the largest frauds in history. Payments to victims could reach $4 billion. Much of these funds were recovered from Madoff’s family and friends, Madoff’s bank J.P. Morgan Chase, and from wealthy investors who had cashed out billions of what turned out to be fictitious profits.

Read more
Martin Shkreli

Martin Shkreli investor to recover losses

April 11, 2018

Shkreli investor to recover losses. A NJ federal court ordered convicted fraudster Martin Shkreli to pay one defrauded hedge fund investor about $388,000 in restitution. 

Read more
Nun with ruler

Wells Fargo shamed by Nuns

April 6, 2018

Wells Fargo shamed by Nuns. Wells Fargo has been taken to task for failing to publicly report on the root causes that led to a rash of ethical lapses in recent years by an investor group led by the Interfaith Center on Corporate Responsibility and including about 20 religious organizations as well as state officials from Rhode Island and Connecticut.

Read more
Knight in armor on horse

State unfair deceptive trade practices – what you should know

April 5, 2018

The National Consumer Law Center has issued its report on the unfair deceptive trade practices laws in the 50 states and the District of Columbia. The report highlights the strengths and weaknesses of the Unfair and Deceptive Acts and Practices (UDAP) laws that prohibit deceptive and unfair practices in consumer transactions, such as sales of cars and other goods, loans, home improvements, and mortgage transactions.

Read more
Cover of US Senate Committee on Aging Report Top Ten Elder Scams

Elder financial abuse is one of top 10 elder scams

March 21, 2018

Top 10 Elder Scams The US Senate Committee on Aging released its report of the top 10 elder scams reported by callers to the Committee’s hotline number. While this is not a scientific methodology, it does give us an idea of some of the scams that folks are reporting. Elder financial abuse makes the list. This is useful information for anyone with a phone, email address, bank account, brokerage account, credit card, … basically anyone.

Read more
coin pyramid

FTC shuts down bitcoin chain referral scheme

March 17, 2018

FTC shuts down bitcoin chain referral scheme The FTC shut down a fraudulent scheme that promised big profits to those who sent bitcoin and got others to send bitcoin. This is called a chain referral scheme — basically a pyramid scheme. Here is the FTC’s recent warning. The prospect of big profits is just an illusion.  “Ever get a chain letter in the mail or online? Then you know the drill — you send money to a person at the top of the list, then take their name off and add yours to the bottom before sending the letter to more people. If the letters keep going, you’re supposed to make money as your name moves up the list. In fact, most people are guaranteed to lose money. “Chain letters have been around for decades. Today’s twist: online chain referral scheme s involving cryptocurrencies like bitcoin and Litecoin.

Read more