Yesterday, December 7, 2015, the SEC announced settlements and the filing of one law suit against US immigration attorneys for allegedly acting as unregistered brokers in violations of the Federal securities laws. The timing could not have been more poignant. Both behind the scenes and occasionally in public articles and letters, there is a pitched […]
The SEC announced today that it has obtained settlements in the civil action related to the Chicago Convention Center case. A link to that announcement can be found here: “SEC Press Release on Chicago Case Settlement“ and the full press release can be found here The penalties are significant from the civil perspective, including million dollar plus fines […]
In what may be FINRA’s first interpretative letter involving the EB-5 program, on August 26th, 2013, FINRA replied to a member firm’s (broker-dealer) request for guidance on Rule 2111 – Suitability Standards. The full letter can be found at the following link: http://discuss.ilw.com/content.php?2405-News-FINRA-Rule-2111-Suitability According to Rule 2111, broker-dealers and their representatives must abide by specific obligations […]