Artificial Intelligence (AI), as it develops capabilities far beyond ‘program trading’ has the potential to greatly impact the world of investing in the stock market. In the past decade, technology has advanced greatly, leading to its use in a wide range of industries, including finance. While there is still some…
When it comes to protecting investments, one of the most useful strategies is awareness. Investors can empower themselves by knowing the basics of the most commonly used investment fraud tactics. Per the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC), three of the most common investment…
The theft of an estimated $190 million in cryptocurrency this week from a blockchain bridge, Nomad, is just the latest in a string of similar heists targeting the crypto sector. Crypto investors are encouraged to remain wary of this and similar threats to their crypto assets as they make investment…
With the recent release of the Netflix true crime documentary, “The Tinder Swindler,” public attention to a unique form of financial fraud is growing, as is the number of lawsuits filed against the film’s subject, Simon Leviev. The documentary chronicles the experiences of three innocent victims of the so-called “Tinder…
A former Texas financial advisor, William Gallagher (“Gallagher”), was sentenced on November 3, 2021, to three life terms in prison for his role in orchestrating a $32 million Ponzi scheme. [1] The Ponzi scheme specifically targeted elderly Christian investors who believed they were investing their retirement funds with a trusted…
In the midst of the COVID-19 pandemic, Ponzi schemes have continued to pose a serious threat to unsuspecting investors here in Florida and around the world. On August 9, 2021, the Securities and Exchange Commission (SEC) filed a complaint in federal court against Johanna Garcia, of Broward County, and two…
On the heels of the Financial Industry Regulatory Authority’s (“FINRA”) record-breaking financial penalty against app-based investing platform Robinhood, it’s a fitting time to consider recent trends within FINRA’s industry-wide arbitration process. As an organization, FINRA’s main function is to protect investors by upholding the integrity of the market through careful…
In light of the ever-expanding role of digital technology in daily life, along with a string of recent high-profile cyberattacks, it is fitting that the Securities and Exchange Commission (“SEC”) has included cybersecurity risks on their 2021 regulatory agenda. The SEC last provided cybersecurity guidance in 2018, though critics argue…
The Supreme Court of the United States dealt a blow – at least for now – to plaintiff shareholders as part of its long-awaited June 21, 2021 decision in Goldman Sachs Group, Inc. v. Arkansas Teacher Retirement System. The Plaintiffs, all Goldman shareholders, filed this securities fraud class-action suit against…
Regulation of cryptocurrency remains broadly uncharted in the United States, even as its popularity has exploded. The uncertainty shrouding crypto regulation stems largely from complexities within the blockchain on which it is based and from difficulties with its classification – is it a commodity? Is it a security? Is it…