Articles Tagged with business litigation

A recent report shows that senior citizens have become one of the largest demographic groups target by financial scams and investment fraud. In the past, we’ve offered tips for preventing elder financial abuse, but it seems that the problem is much more aggressive than just making sure that you take steps to protect your investments.

According to the recent report, Americans 62 and older are the targets of widespread and rampant financial abuse.

And these scams aren’t being perpetrated by the seedy criminals you’d expect to be preying on the elderly; instead, the report shows that these senior financial scams are perpetuated by the very people that should be helping you make smart and secure financial decisions. People like:

You’ve probably heard of the popular cryptocurrency investing platform Bitcoin, but what about Ethereum?
Or Litecoin?
Or Dash?

SEC Hack Exposes Critical Security Faults

On Thursday, it was announced that the Securities and Exchange Commission (SEC), the nation’s top finance and securities regulator, had experienced a critical cyber security breach. The breach, which occurred in 2016, allowed hackers access to the SEC’s EDGAR system, a database which houses corporate filings and announcements for a multitude of Wall Street firms.

The SEC hack has shaken investors and lawmakers as it poses serious questions regarding the SEC’s security measures and protocol. It is also possible that hackers may have profited on the insider info by trading on it. According to a Reuters report, the database contained sensitive, “market-moving information”.

Last time we wrote about the Wells Fargo fake accounts scandal, the current figure of roughly 2 million customers affected had just been increased to nearly 3.5 million. What we saw was the uncovering of a scandal that was far more deep-seated than previously thought. Through the creation of unauthorized accounts for various consumer services, Wells Fargo had earned millions in fraudulent funds.

Apparently, its even worse than that.

A recent report shows that there appears to be an additional 1.4 million fake accounts, about 190,000 of which accrued fees. The additional accounts were uncovered by a third-party investigator hired by Wells Fargo to uncover the extent of the issue internally.

Two Florida men have been charged with insider trading in relation to a larger investigation by the Securities and Exchange Commission (SEC). The investigation uncovered an insider trading scheme spanning from New York to Florida and California. The scheme was perpetuated by a former IT employee of a large, New York bank.

The man passed along insider trading tips to two of his friends in Florida, who created shell companies to carry out trades.

Not surprisingly, these two individuals were inexperienced traders, that’s why they participated in the scheme in the first place. If you’re a serious investor, you know that participating in illicit investment practices like insider trading is not only risky from a legal standpoint, but a risk financially as well.

Out of Sight, Out of Mind?

Is 2008 far enough in our rear-view that we’ve already forgotten the same mistakes that brought the financial industry-and U.S. economy-to the brink of collapse? Evidently, it is for banks and policymakers.

You have probably been hearing a lot of talk about impending “reviews” of current financial regulation measures; the very regulations put in place immediately following the aftermath of the 2008 collapse; the very measures that are meant to ensure that kind of thing doesn’t happen anymore. However, these calls for review signal a clear intention for some of a desire for wide-scale financial deregulation.

If you’re smart, you are planning for your financial future. Retirement investing is one of the surest methods for building a nest-egg.

Most likely, you’re familiar with the concept of retirement investing. Typically, you can direct funds from your personal income into tax-sheltered or tax-deferred accounts. This is known as a 401(k).

However, there are alternative investment options to a 401(k) available. You can also invest in a 403(b) or a 157(b). These alternative options allow you to invest in certain investment options. It’s important to remember, though, that not every employer offers these plans.

Maybe you want to make it big as an investor. Maybe you just want a nest egg for retirement or financial security for your family. Whatever the reasons, thousands of Americans everyday make their first steps to becoming active investors.

Before hitting the market though, there’s a lot would-be investors need to know; like understanding the different types of stock and securities investments, and how active an investment approach you’d like to take.

Once you’ve got that down, you’ve got to know the buy-and-sell process of trading. For that, you’ve got to know your order types.

You’ve probably heard the term “diversified portfolio” before. The term brings to mind the image of a robust, varied assortment of assets and securities that not only generate generous returns, but act as a cushion against any one stock or security’s downturn.

Everyone wants a diversified portfolio, from fledgling investors to seasoned pros. However, there’s a fine line between your portfolio being diversified and it just being a hodge-podge.

Diversified portfolio or salad bar portfolio?

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