Category: Investor Legislation
States are enacting their own fiduciary rules to protect investors. For claims assistance, contact Meyer Wilson today for a free consultation.
If you were the victim of fraud, our attorneys at Meyer Wilson are ready to help. We have successfully secured more than $350 million for our clients, and we are committed to providing you with the experienced and knowledgeable representation you deserve.
The Senate voted 51-50 on Tuesday, October 24 to repeal a rule put in place by the Consumer Financial Protection Bureau (CFPB) that banned mandatory arbitration clauses in certain financial contracts. All 48 Democrats, along with Republicans Lindsey Graham and John Kennedy, voted against the resolution. Vice President Mike Pence cast the tie-breaking vote late… read more
Introduced in the past week in both the U.S. House and Senate is proposed legislation that could help victims of Ponzi scheme investment fraud to recover more of their cash losses. Titled the “Restoring Main Street Investor Protection and Confidence Act (H.R. 3482),” it seeks to amend the Security Investor Protection Act of 1970. Among… read more
A federal judge recently ruled that Regions Bank may be held responsible for violating Florida securities law. Back in 2009, the Securities and Exchange Commission (SEC) originally brought charges against Regions Bank for “aiding and abetting” securities sales by an unregistered dealer, USPT. Regions served as the trustee for each investor who invested in the… read more
Investor Legislation | January 20, 2013
Crowdfunding May Lead to Online “Boiler Rooms,” Warns Investment Fraud Attorney There’s been a lot of noise in the news lately about “crowdfunding,” a financing practice that enables startups to use small amounts of capital from a large number of individuals to finance a new venture. Legislators legalized crowdfunding as part of the 2012 Jumpstart… read more
John Bravata, the chairman of BBC Equities, LLC, was arrested in New York City on May 5th as he exited a plane returning from Italy. Bravata now faces criminal charges for aMichigan investment scam in which he allegedly took $50 million from 440 different investors. Previously, only one civil claim had been filed. Bravata, whose… read more
Investor Legislation | May 27, 2011
According to an academic study published this year, stocks held by members of the U.S. House out-earn the market by an average 6 percent annually. That’s either really lucky or really unfair. In a recent Huffington Post article, Dan Froomkin speculates that the above-average returns that members of the U.S. Congress see from their stock… read more
Investor Legislation | April 12, 2011
Last year, a survey released by the Investor Protection Trust indicated that at least 20 percent of Americans over the age of 65 had been the victim of financial abuse and/or financial fraud. In an effort to address the problem, new bills aimed at protecting senior citizens from investment fraud have been making the rounds… read more
Investor Legislation | March 17, 2011
In January, the SEC submitted a recommendation to Congress to adopt a “universal fiduciary duty” that would include any financial professional that provides personalized investment advice to retail customers. (For more info, click here.) This month, the U.S. Department of Labor held hearings to debate a proposal that would expand the “fiduciary” duty of the… read more