The SEC recommended a uniform fiduciary standard of conduct for broker-dealers and investment advisers in January 2011. Investment advisers and broker-dealers are regulated extensively under different regulatory regimes, but many retail investors do not understand this and are confused by the roles played by investment advisers and broker-dealers. SEC Chairman Mary Schapiro’s pending departure in […]
SEC Chairman Mary L. Schapiro today announced that she will step down on Dec. 14, 2012. The move was widely expected. Chairman Schapiro took office in the wake of the financial crisis in January 2009. She focused on a more rigorous enforcement and examination program, and shaped new rules for Wall Street. The SEC is […]
Florida homeowners involved in a foreclosure on their primary residence in 2009 and 2010 may be eligible for a free Independent Foreclosure Review. Homeowners in mortgage foreclosure who qualify for this program will receive a letter in the mail by December 31, 2011 with more details. If you want your case reviewed, you must respond […]
Hedge fund advisory firm CR Intrinsic Investors LLC, based in Stamford, Conn., its former portfolio manager Matthew Martoma, and a medical consultant for an expert network firm were charged by the Securities and Exchange Commission for their roles in a $276 million insider trading scheme involving a clinical trial for an Alzheimer’s drug being jointly […]
2012 Fort Lauderdale 5K Turkey Trot and Paddle Thursday, November 22, 2012 The 2nd Annual Fort Lauderdale Turkey Trot & Turkey Paddle Together, sponsored by iTRACE Foundation, Inc. and Emerge Broward, a program of the Leadership Broward Foundation, Inc., will raise funds to support healthy living across the generations with an emphasis on childhood obesity. […]
J.P. Morgan Securities LLC and Credit Suisse Securities (USA) agreed to pay more than $400 million combined to settle charges that the firms misled investors in offerings of residential mortgage-backed securities (“RMBS”). The charges were filed recently by the Securities and Exchange Commission in coordination with the federal-state Residential Mortgage-Backed Securities Working Group. The SEC […]
Foreclosure rates in Florida were the highest in the nation for the second month in a row, according to a report by RealtyTrac. The good news is that the October 2012 total was 13 percent below the October 2011 total, which means that the Florida mortgage foreclosure rate is slowly moving in the right direction. […]
Anand Sekaran and his firm Wasson Capital Advisors Ltd. defrauded clients by concealing trading losses and diverting investor funds for personal use, according to recent SEC charges. The Miami-based investment adviser allegedly fabricated documents showing illusory profits after a trading strategy became unprofitable in 2008 and produced substantial losses for clients. Sekaran also misused client […]
We join the nation today in recognizing the great contributions and sacrifice made by members of the U.S. military and their families. With more than 1.6 million veterans, Florida is the most veteran-friendly state in the nation, according to the Florida Department of Veterans’ Affairs. Here are some interesting facts about Florida veterans: Florida has […]
Limits on alimony amounts and the length of time alimony is paid are some of the many changes proposed by Florida legislator Ritch Workman (R-Brevard County). House Bill 549 would allow previous divorce agreements to be reopened and renegotiated, among other provisions. Florida Alimony laws were updated in the past few years to provide the […]
