Author: Keith Griffin

Former Morgan Stanley and Ameriprise Rep Censured By FINRA

FINRA recently fined former Texas-based Morgan Stanley and Ameriprise broker Steven Yellen $25,000 for unauthorized trading at the firms.  FINRA alleged Mr. Yellen improperly exercised discretion on thirty different occasions between 2013 and 2017. Unauthorized trading is where an advisor representative does not seek or receive authorization from his or her client in advance of […]

Stock Market Charts

ADV Time for RIAs

RIA firms with a fiscal calendar ending on December 31st have until March 31st to file their updated ADVs with the SEC. In addition, following the SECs new requirements (adopted last summer), there are 8 changes required on the Form ADV for firms filing after October 1.  The purpose of the new data is to […]

SEC Exams – More Efficiency?

The likelihood of independent adviser exams is declining as the SEC experiences post election changes. Former SEC Chairwoman Mary Jo White had drafted a regulation to outsource some exams to third parties. However, following Ms. White’s departure, increased Republican resistance and a reorganization of SEC assets, it looks like that plan will fade. In 2015, the agency’s Office of Compliance […]

Change Coming to the SEC

Washington continues to see changes following the election of Donald Trump. The SEC is one agency where the change will likely be dramatic. Mary Jo White served as Chair of the SEC from April 2013 – January 2017.  Ms. White, a former U.S. Attorney, was known for her aggressive prosecutorial tendencies and the SEC under […]

Chart Showing Investment Losses

FINRA Simplified Arbitration

Investors who have suffered losses of less than $25,000 oftentimes find themselves with nowhere to turn. It is not cost effective for these investors to hire attorneys at traditional hourly rates. Additionally, many contingency-fee lawyers will not take on such a matter. Griffin Law Firm, LLC in Indianapolis has a solution. FINRA Rules provide for […]

Samex Capital Advisors LLC Money Manager License Revocation

Samex Capital Advisors, LLC money manager Keenan Hauke, of Fishers, Indiana, has had his financial advising license revoked. The Indiana Securities Division took the dramic step recently following allegations by a former employee of misallocation of client funds. The Order of Revocation signed by the Indiana Securities Commissioner stated that there was a “substantial threat […]

Year of Compliance

The SEC is ramping up its enforcement. The Division of Enforcement has established new groups that will concentrate on specific parts of the market. This more narrow scrutiny will focus primarily on mutual funds/assets under management. The SEC believes that this specialized enforcement will serve to reduce and contain risks within investment management. Fund companies […]