29/6/2018/US SEC The Securities and Exchange Commission today announced that Morgan Stanley Smith Barney (MSSB) has agreed to pay a $3.6 million penalty and to accept certain undertakings for its failure to protect against its personnel misusing or misappropriating funds from client accounts. The SEC’s order finds that MSSB failed […]
Frauds & Scandals
SEC Charges Massachusetts Real Estate Developer with Making False Statements to Investors
June 29, 2018/US SEC On June 29, 2018, the Securities and Exchange Commission charged a Massachusetts real-estate developer with making several false statements in his attempts to raise funds from potential investors. The SEC’s complaint, filed in the United States District Court for the District of Massachusetts, alleges that, from […]
SEC Charges New York-Based Firm and Supervisors for Failing to Supervise Brokers Who Defrauded Customers
June 29, 2018/US SEC The Securities and Exchange Commission today charged New York-based broker-dealer Alexander Capital L.P. and two of its managers for failing to supervise three brokers who made unsuitable recommendations to investors, “churned” accounts, and made unauthorized trades that resulted in substantial losses to the firm’s customers while […]
