NASD arbitration case settles for $400,000
December 11, 2006 08:22

Anapol, Schwartz attys Joel Feldman and Adam Green settled an NASD arbitration case for $400,000 for the estate of a 75 year old woman with losses in her account through inaction and negligence of her stockbroker. The portfolio was not suitable for a widowed,... (Read Article)

SEC Tightens Hedge Fund Rules
December 12, 2006 10:46

After voicing concern about industry fraud and the potential risk to ordinary investors, securities regulators are expected to take a step toward restricting hedge funds. Members of the Securities and Exchange Commission will vote on whether to propose a rule making it more expensive to buy into hedge funds, as well as on proposing a rule that would broaden antifraud obligations of fund advisers. (NASDAQ)

Ex CEO Indicted for Securities Fraud
December 13, 2006 10:46

The former head of MCSi Inc., a now-defunct computer sales company that once had more than 1,300 employees worldwide, was arrested Thursday and accused of securities fraud involving tens of millions of dollars. The indictment accuses Michael Peppel of orchestrating a scheme to artificially boost the company's stock prices between 2000 and 2003 through a series of sham transactions, fabricating accounting entries, and falsifying purchase orders. In 2001, the company's annual sales exceeded $800 million. The company filed for Chapter 11 bankruptcy protection in 2003 and is currently in liquidation. (Yahoo)

NASD Fines Four Firms for Supervisory Failures Relating to Mutual Fund Sales Charge Waivers
December 15, 2006 10:44

NASD announced today that it has imposed fines totaling $850,000 against four firms-- Edward D. Jones & Co., L.P. of St. Louis ($250,000), RBC Dain Rauscher Inc. of Minneapolis ($250,000), Royal Alliance Associates, Inc. of New York ($250,000), and Morgan Stanley... (Read Article)