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Articles Posted in SEC Actions

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Silver Law Group is Investigating Wedbush Securities, Inc.

Wedbush Securities, Inc. (CRD # 877) is a financial services and investment firm based out of Los Angeles, California. Wedbush currently has three pending regulatory actions against the firm. One such action was initiated by the Securities & Exchange Commission in March 2018. The SEC alleges that Wedbush failed to…

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Securities Regulatory Authorities Were Well Aware of Problems with Wedbush Securities

Wedbush Securities is facing discipline from the SEC, NYSE, and FINRA for a manipulative trading scheme involving its founder, Edward Wedbush. According to a recent article by InvestmentNews.com, however, all three agencies were well aware of problems within Wedbush for many years, but handed down no real, meaningful punishment to…

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Reporting Failures Cost Aegis Financial $1.3M In Fines

FINRA and the SEC has fined Aegis Capital $1.3 million stemming from multiple reporting violations, including failing to report suspicious trades to the SEC. The regulators also allege that Aegis CEO and owner Robert Eide was responsible for causing the violations when he failed to respond to reports of suspicious…

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Woodbridge Group of Companies Principal Robert Shapiro Takes the 5th Amendment

Robert Shapiro, president and CEO of Woodbridge Group of Companies (“Woodbridge”), has reportedly refused to answer questions from the Securities and Exchange Commission (“SEC”) relating to its investigation of Woodbridge’s business practices. In a letter to the SEC, filed in federal court papers, Mr. Shapiro’s lawyer writes, “Upon consideration of…

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Woodbridge Group of Companies Under SEC Investigation

The SEC is investigating Woodbridge Group of Companies’ (“Woodbridge”) business practices. According to a recent SEC application and supporting papers filed in federal court in Miami, Florida, the SEC is investigating whether Woodbridge and others have violated or are violating the antifraud, broker-dealer, or securities registration provisions of the federal…

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Federal Employee Benefit Counselors Targeted Federal Government Employee Retirement Plan Participants With Variable Annuities Scheme.

Silver Law Group and The Law Firm of David Chase are reviewing potential claims of fraudulent inducement of federal employees into purchasing high fee paying variable annuity products by LPL Financial LLC (CRD#6413) affiliated brokers Brandon Long (CRD# 5975459) , Christopher S Laws (CRD#4479529) , Johnathan Dax Cooke (CRD#5365691) and…

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New York City-based Broker Permanently Barred by FINRA; Allegation of VGTel Sale

Rafael Santiago (CRD# 2494647) of New York, New York firm Primary Capital, LLC (CRD# 127921) is under investigation after being barred from the securities industry in April 2016. Santiago, according to his Financial Industry Regulatory Authority (“FINRA”) BrokerCheck report was barred by FINRA after he failed to respond to FINRA’s…

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SEC Halts Chicago-based Fraud Targeting Seniors Involving Daniel H. Glick, Formerly of Transamerica Financial Advisors

The SEC announced an emergency asset freeze and temporary restraining order against a Chicago-based investment adviser and his financial management company accused of scamming elderly investors out of millions of dollars. In the SEC’s complaint, the SEC alleges that Daniel H. Glick (CRD# 2175655) and his unregistered investment advisory firm…

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Former Edward Jones Broker Under Investigation for SEC Charges Alleging Theft of $1.2 Million to Remodel Home

Silver Law Group is investigating former Edward Jones (CRD# 250) broker Bernard M. Parker (CRD# 2010184) after the SEC charged him for stealing investors’ money so he could remodel his home. Parker has a lengthy list of disclosures according to his FINRA BrokerCheck report.  In total, Parker has 14 disclosures.…

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