Category: SEC News

NEW SEC RULE REQUIRES BROKERS TO STOP CALLING THEMSELVES “ADVISORS”

By: Courtney Werning, Esq. Long have stockbrokers referred to themselves as “financial advisors” or “wealth advisors.” Until now, regulators have allowed it. Next month, the rules change. “Brokers” conduct investment transactions for their clients. Under the current rules, they are allowed to recommend products that are suitable for an investor but which may also earn… read more

Investors Beware Of Coronavirus (COVID-19) Pump and Dump Schemes

The United States and the rest of the world are facing unprecedented challenges due to the coronavirus pandemic. Also known as Covid-19, this virus has essentially shut down the economy in the United States, and it has devastated investment portfolios. Many people have had to stand by and watch as their retirement accounts lose hundreds… read more

New Rule: The SEC Permits Summary Prospectuses for the Sales of Variable Annuities

The U.S. Securities and Exchange Commission (SEC) announced last week that it will allow brokers to sell variable annuities to investors by providing a simplified disclosure to investors about the features, fees, and risks of the investment.  While the SEC’s stated goal (improving investors’ ability to make informed purchase decisions) is a worthy goal, the… read more

Emergency Freeze Against Today’s Growth Consultants For Running $75M Ponzi Like Scheme

The US Securities and Exchange Commission (SEC) recently announced that they have obtained a restraining order and filed an emergency enforcement action against Today’s Growth Consultant Inc. as well as company owner, Kenneth D. Courtright III. Courtright was arrested on criminal fraud charges in addition to the securities fraud charges brought by the SEC. It… read more

SEC Investor Alert: The Risks of Investing in Marijuana-Related Companies

The SEC’s Office of Investor Education and Advocacy recently issued a new Investor Alert warning potential investors about the risks of marijuana-related investments. Learn more in our latest blog here.

$5 Million Ponzi Scheme Defrauds Investors

A Virginia investment firm is charged with an alleged Ponzi scheme fraud. For help with investment fraud loss, contact the attorneys at Meyer Wilson today.

Did You Overpay for Mortgage Bonds?

The SEC has charged Merrill Lynch with misleading customers on mortgage bond prices and overcharging for trades to increase profits. For help with investment fraud, contact Meyer Wilson today for a free consultation with one of our investment fraud lawyers.

SEC Charges Transamerica Entities $97 Million Over Faulty Investment Models

The Securities and Exchange Commission (SEC) announced that it charged four Transamerica entities $97.6 million for its misconduct in misleading retail investors with faulty investment models. The SEC found that the faulty models developed and used by AEGON USA Investment Management LLC, affiliated advisers Transamerica Financial Advisors Inc. and Transamerica Asset Management Inc., and affiliated… read more

1st Global Capital and 1st West Capital File For Bankruptcy Amid SEC Fraud Investigation

The Investment Fraud Attorneys at Meyer Wilson Are Representing Individuals Against Brokerage Firm that Recommended the Purchase of 1st Global Capital Two affiliated small business lenders – 1st Global Capital LLC and 1st West Capital LLC – filed for bankruptcy at the end of July amid a Securities and Exchange Commission (SEC) investigation into an… read more

SEC Issues Warning About Cryptocurrencies, IRA Fraud

The United States Securities and Exchange Commission (SEC) recently issued an investor warning about the growing risks posed by unregistered IRAs and the growing levels of investment in cryptocurrencies. According to the SEC, the unregistered IRA market is estimated at approximately $100 billion in value, and while it gives people the opportunity to invest in… read more