33602 Tag Archives — Page 4 of 4 — Securities Fraud Lawyers Blog

Dodd-Frank Cuts Likely Under Banking Regulation Reviews

Published on: February 3, 2017 | by Savage Villoch Law, PLLC

Uncertain Future for Dodd-Frank

Last week, President Trump ordered a review of major banking regulations put in place following the 2008 financial crisis, largely comprising Dodd-Frank regulations. President Trump has made clear that rollbacks are a main objective for these reviews.

Though the executive order only calls for a review, the Trump administration aims to make major cuts to banking regulations, largely affecting Dodd-Frank’s enforcement measures: Volcker Rule and the Consumer Financial Protection Bureau (CFPB).

Why it Matters That NYSE is Expanding Securities Trading

Published on: January 13, 2017 | by Savage Villoch Law, PLLC

By the end of 2017, the New York Stock Exchange (NYSE) will open up its trading floor to all U.S. securities. Currently, NYSE restricts securities trading on the floor to the top 3,166 stocks, according to a Reuters report.

The change means that, now, up to 8,600 securities can be traded by floor brokers.

So, how does this change meet with the rising popularity of electronic trading and what does this change mean for investors?

Brokerage Firms Fail to Protect Consumer Records

Published on: January 2, 2017 | by Savage Villoch Law, PLLC

The Financial Industry Regulation Authority (FINRA) announced fines against 12 securities firms for their failure to accurately protect consumer records.

FINRA carried out fines, totaling $14.4 million, against 12 securities brokerage firms, including some of the largest-backed firms in the country.

FINRA found that these firms storing broker-dealer and consumer records without precautions in place to prevent alteration.

Inexperienced Investors Targeted in Day-Trading Scam

Published on: December 26, 2016 | by Savage Villoch Law, PLLC

Last week, the Securities and Exchange Commission (SEC) charged two individuals in a fake day-trading scheme targeting inexperienced investors.

According to the SEC’s press release, the two men in question scammed investors out of more than $1.4 million through the operation of a false day-trading investment firm.

Luring Investors with Day-Trading

Settling Broker-Dealer/Customer Disputes

Published on: December 19, 2016 | by Savage Villoch Law, PLLC

Ever wonder about how customer disputes are resolved between investors and broker-dealers?

Is a lawsuit necessary?

Do you need to hire a lawyer?

Reverse Mortgage Consumers Face False Claims

Published on: December 12, 2016 | by Savage Villoch Law, PLLC

Reverse Mortgage Companies See Reversal of Fortunes

This week, the Consumer Financial Protection Bureau (CFPB) announced charges against three top reverse mortgage companies with false claims and deceptive advertising. These companies lured consumers into reverse mortgage contracts under the claim that they would not stand a chance of losing their homes, among other promises.

American Advisors Group, Reverse Mortgage Solutions and Aegean Financial have all been ordered to cease deceptive advertising, comply with regulations and pay penalties by the CFPB.

Top Consumer Financial Complaints

Published on: December 5, 2016 | by Savage Villoch Law, PLLC

Each month, the Consumer Financial Protection Bureau (CFPB) publishes a complaint report outlining and highlighting volume and percentage of consumers’ reported financial complaints.

The CFPB is an agency tasked with providing consumers with financial protection and empowerment by improving existing consumer protection rules, enforcing rules and providing tools and resources for consumers.

Analyzing Financial Complaints

Financial Securities Firm Left Customers Vulnerable

Published on: November 21, 2016 | by Savage Villoch Law, PLLC

Insecure Financial Securities

Last week, the Financial Industry Regulatory Authority (FINRA) handed out a $650,000 fine to a broker-dealer in the Lincoln Financial Network. The industry watchdog group found that the independent broker-dealer in Lincoln Financial’s network allowed thousands of customers’ data to be exposed to foreign hackers.

Similarly FINRA also found that Lincoln Financial Securities Corp. failed to ensure the security of their customers’ consolidated reports.