The Financial Industry Regulatory Authority (FINRA) recently announced an enforcement action against H&R Block Financial Advisors relating to its sale of reverse convertible notes (RCNs). RCNs usually offer an attractive yield when compared to other stocks and bonds, in part because of their highly risky nature.
Posts Tagged ‘Customer Accounts’
FINRA Announces Enforcement Action Relating to Reverse Convertible Notes
February 19th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Broker Dealers, Concentration Levels, Convertible Notes, Customer Accounts, Fina, Financial Advisors, Financial Broker, Financial Industry Regulatory Authority, Finra, Investment Loss, Investment Losses, Investment Vehicles, Ketchum, Macgill, Regulatory Notice, Restitution, Retail Investors, Reverse Convertibles, Stocks And Bonds, Supervisory Systems 
Comments OffFINRA Fines Brokerage Firm for Sale of Unregistered Securities
February 4th, 2009 Before You Invest The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Leonard & Co. of Troy, MI, $225,000 for numerous violations, including the illegal sale of more than two million shares of penny stock on behalf of customers. FINRA also required the firm to retain an independent consultant to review its supervisory systems and procedures.In addition, FINRA has barred Robert J.
Posted in Finance Fraud Tags: Brokerage Firm, Brokerage Firms, Customer Accounts, Executive Vice, Financial Industry Regulatory Authority, Finra, Gatekeepers, Illegal Distribution, Illegal Sales, Independent Consultant, Penny Stock, Public Markets, Red Flags, Registered Representative, Regulatory Notice, Restricted Securities, Securities Markets, Supervisory Systems, Unregistered Securities, Unregistered Shares No Comments »Gen See Capital and Gen Unlimited,One World Capital Group more Ponzi scheme surface
January 9th, 2009 Before You Invest Richard Piccoli, 82, was arraigned in federal court in upstate New York Thursday in an alleged $17.0 million Ponzi scheme using his companies, Gen See Capital and Gen Unlimited. The prosecutor contends Piccoli targeted Catholics in particular, advertising in Church-related newspapers with offers of term certificates that earned a guaranteed 7.1% annually.
Posted in Finance Fraud Tags: Assets, Capital Group, Catholics, Customer Accounts, Discounted Mortgages, Jewelry, John E Walsh, Justice Department, Lifestyle, Money, Newspapers, Private Jets, Prosecutor, Prosecutors, Prospective Investor, Strip Clubs, Term Certificates, Two Men, Upstate New York, Wire Fraud No Comments »
