SEC & FINRA Enforcement Roundup

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  FINRA on Record Enforcement Pace in ’13, Enforcement Chief Says

  By Melanie Waddell, AdvisorOne  |  May 24, 2013

  “FINRA enforcement continues to have a strong caseload, with a record number of cases on the same pace this year as last,” said Brad Bennett, FINRA’s chief of enforcement.

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  SEC, FINRA Enforcement Roundup: Hedge Fund Analyst, 2 Friends Charged With Insider Trading

  By Marlene Y. Satter, AdvisorOne  |  March 29, 2013

  Among other recent actions were sanctions and fines for HSBC and Scottrade.

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  SEC, FINRA Enforcement Roundup: Eli Lilly to Pay $29M to Settle Foreign Bribery Charges

  By Marlene Y. Satter, AdvisorOne  |  January 3, 2013

  The SEC recently charged Eli Lilly for violations of the FCPA and barred an Arizona-based fund manager from the industry after the fund’s collapse. FINRA ordered Pruco Securities to pay $10.7 million.

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  SEC, FINRA Enforcement Roundup: Insider Trading Ring Busted; Raymond James Hit

  By Marlene Y. Satter, AdvisorOne  |  December 7, 2012

  Among recent actions taken by the SEC and FINRA were the breakup of an insider trading ring; Raymond James getting fined and censured; and proceedings over securities law violations by the Big Four accounting firms' China affiliates.

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  SEC Enforcement Roundup: High School Dropout ‘Advisor’ Busted for Fraud

  By Marlene Y. Satter, AdvisorOne  |  November 20, 2012

  The SEC charged a man who was high school dropout and a phony “investment advisor” who spent his clients’ funds on drugs and gambling; and a group of former high school buddies were charged with engaging in insider trading.

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  SEC Keeps Up Blistering Pace of Enforcements Against Advisors, BDs in 2012

  By Melanie Waddell, AdvisorOne  |  November 16, 2012

  The SEC filed 147 enforcement actions against advisor and investment companies in 2012, one more than last year’s record number, and the number of actions this year against BDs jumped significantly.

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  SEC Enforcement Roundup: BP to Pay Third Largest Penalty in SEC History

  By Marlene Y. Satter, AdvisorOne  |  November 16, 2012

  As part of the $4.5 billion settlement with the U.S., BP admitted to misleading investors about the rate of the oil flow in the Deepwater Horizon disaster in the Gulf of Mexico in 2010.

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  FINRA Enforcement Roundup: Hudson Valley CEO Barred Over Sneaky Day Trading, Fraud

  By Marlene Y. Satter, AdvisorOne  |  November 9, 2012

  Mark Gillis, the CEO of New York-based Hudson Valley Capital Management, was barred and his company expelled from the securities industry for defrauding its clearing firm and customers.

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  SEC, FINRA Enforcement Roundup

  By Marlene Y. Satter, AdvisorOne  |  May 24, 2012

  Broker-dealer Cadaret, Grant fined; alleged $60 million Ponzi scheme targeted; Morgan Stanley in hotseat.

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  SEC Enforcement Roundup: Real Estate Ponzi Scheme; Hawaiian Boiler Room

  By Marlene Y. Satter, AdvisorOne  |  May 17, 2012

  Continuing investigations and charges against a China-based company and its executive and a Hawaii resident and the firms he used were among the enforcement activities reported by the SEC during the week.