Tim O'Connor's Blog

Whistleblower and Qui Tam Recoveries

A number of civil recovery provisions under Federal and State Law, as well as the rules and procedures of the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission afford workers significant rights and the potential for substantial monetary awards. Over the years, whistleblowers have played a crucial role in routing out corruption […]

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SEC Issues Investor Alert for Seniors – Five Red Flags of Investment Fraud

In an investor alert and bulletin dated July 18, 2016, the United States Securities and Exchange Commission Office of Investor Education and Advocacy noted the following red flags to help senior investors identify possible fraudulent schemes which have been targeting seniors. These include: Unregistered and unlicensed sellers Promises of higher returns with little or no […]

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The SEC Announces Operation Invest Wisely to Educate Military Personnel and Their Families

The SEC has announced in its Investing Basics series, the U.S. Securities and Exchange Commission has announced Operation Invest Wisely to promote investing education and resources for military service members and their families. Too often, military service members and their families have fallen prey to unscrupulous financial planners suggesting that military members and their family […]

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Prudential Annuities Distributors, Inc. Fined by FINRA for Failing to Detect Variable Annuity Scheme

In a Press Release dated Tuesday, July 19, 2016, the Financial Industry Regulatory Authority (FINRA) announced a finding against Prudential Annuities Distributors, Inc. for failing to detect forged variable annuity withdrawal requests from a Prudential Annuities variable annuity customer. Various of these withdrawals included third party payee transfers which FINRA determined should have detected as […]

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Merrill Lynch Fined for Disclosure Failures on Notes

The SEC and Financial Industry Regulatory Authority (FINRA) announced an assessment of a $5,000,000 fine against Merrill Lynch for misleading information relating to its strategic return notes. Merrill Lynch sold over $168,000,000 worth of these notes to customers, which were promoted as a hedge against declines in the financial markets. FINRA determined that Merrill Lynch […]

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