Beware Private Placements: Lessons From MedCap, Provident and DBSI
Posted by William Byrnes on April 26, 2011
FINRA and the SEC are actively examining private placements and the firms that sell them. If the regulators believe that something is amiss, they won’t hesitate to impose severe fines on everyone involved in the sale.
FINRA has issued sanctions against two firms and seven individual principals of those firms. FINRA accuses them of causing significant investor losses by failing to conduct a reasonable investigation before offering the private placements for sale to investors.
Read this two-page article by linking to AdvisorOne – a National Underwriters Summit Business open-access original content wealth management news portal.
This entry was posted on April 26, 2011 at 06:31 and is filed under Compliance, Wealth Management. Tagged: Business, Canada, Company, Financial Industry Regulatory Authority, law, Private placement, Security, U.S. Securities and Exchange Commission. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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