Chicago Regional Office

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  Ponzi Schemer Blames Mysterious One-Eyed Man; Uses Profits to Give Prostitutes a ‘Better Life’

  By Melanie Waddell, AdvisorOne  |  October 19, 2012

  The SEC on Thursday charged a purported money manager and two of his chief marketers with defrauding investors in a fake company. Nearly $1 million of the money they siphoned from investors was given to three Las Vegas call girls.

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  New Hire Roundup: FINRA Adds Three; Eichmann Goes to TheStreet

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

  This week in new hires, FINRA added three new governors; Erwin Eichmann joined TheStreet as general counsel; and Putnam Investments named Darren Jaroch portfolio manager of another fund.

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  DOL Enforcement Roundup: Two Accused of Misusing Pension Funds

  By Marlene Y. Satter and Melanie Waddell, AdvisorOne  |  June 15, 2012

  The director of an Illinois-based investment management firm was ordered to restore $1.2 million to four pension plan client accounts, while an advisor was accused of misusing $3.2 million in retirement plan funds.

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  SEC Charges UBS Arm With Improper Mutual Fund Pricing

  By Melanie Waddell, AdvisorOne  |  January 17, 2012

  The SEC on Tuesday charged an investment advisory arm of UBS with failing to properly price securities in three mutual funds that it managed, which resulted in a misstatement to investors of the net asset values of those funds.

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  Do’s and Don’ts of Advisory Contracts

  By Les Abromovitz  |  January 1, 2012

  In preparation for a compliance exam, securities regulators typically will ask to see copies of an RIAs advisory agreements. An RIA must be able to produce requested contracts and the contracts must comply with applicable SEC or state rules.