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JPMorgan Chase Settles Investor Class Action Relating to Forex Trading

JPMorgan Chase & Co. is the first bank in a multi-defendant class action lawsuit to settle claims relating to allegations that the banks rigged the foreign exchange market.  Commonly referred to as the Forex market, over 5 trillion dollars a day is traded as investors rely on the honesty of…

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FINRA Files Disciplinary Charges against Cantella & Co., Inc.

Cantella & Co., Inc., of Boston, Massachusetts, submitted an AWC with FINRA in which the firm was censured, fined $50,000 and required to pay $81,973.65, plus interest, in restitution to customers for allegations relating to excessive commissions. Without admitting or denying the findings, Cantella consented to the sanctions and to…

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FINRA Files Disciplinary Charges against Aon Douglas Miller

Aon Douglas Miller, of Chattanooga, Tennessee, was named a respondent in a FINRA complaint alleging that he participated in private securities transactions with various entities in which four of his member firm’s customers invested a total of $1,550,000. The complaint alleges that at no time were any of the entities…

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FINRA Suspends Registered Individuals for Violations of FINRA Rules – 4

According to FINRA Disciplinary actions for November, 2014, the following individuals were suspended from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules: NAME FORMER EMPLOYERS Emily Maureen Allred…

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FINRA Suspends Registered Individuals for Violations of FINRA Rules – 3

According to FINRA Disciplinary actions for November, 2014, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules: NAME FORMER EMPLOYERS Niyukt Raghu Bhasin NSM Securities, Inc. Max International Broker/Dealer Corp. William Dean Chapman, Jr. Alexander Capital…

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Commodity Trader Paul Greenwood Sentenced to a Decade in Federal Prison for Billion-Dollar Investment Scam

The U.S. Commodity Futures Trading Commission (CFTC) has announced that New Yorker Paul Greenwood, who operated a billion dollar investment scam where he misappropriated at least $500 million from investors, was sentenced to 10 years in federal prison for charges related to his participation in the scam. The criminal charges…

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FINRA bars Aegis Capital Corp Broker Malcom Segal from Securities Industry Over Allegations of Outside Business Activities

The Financial Industry Regulatory Authority (FINRA) recently barred former Aegis Capital Corp.(Aegis) broker Malcom Segal (Segal) alleging that Segal may have engaged in unauthorized transfers of funds from customer accounts to an outside business activity (a/k/a “selling away“). Segal was a broker for Aegis from 2011 until July 2014 when he…

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Federal Judge Refuses to Dismiss Clearing Firm Claims against Pershing

A Federal Judge has denied Pershing LLC’s request to dismiss all claims against it for serving as the clearing firm in Allen Stanford’s multi-billion dollar Ponzi scheme.  According to the Complaint, Pershing allegedly aided the scheme perpetrated through Stanford Group Co. U.S. and the Judge held that “Pershing’s role as…

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SEC Charges Boiler Room with Being a Fraud Targeting Seniors

The Securities and Exchange Commission alleged New York-based Premier Links, Inc., its former president, and two cold callers formed a fraudulent boiler room scheme targeting retirees and elderly to invest in speculative or high risk companies with limited or no real chance of making a profit. The SEC alleges that…

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