SEC Warns Investors to Check the Credentials of Their Stock Broker

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The SEC’s Office of Investor Education and Advocacy recently issued this Investor Alert reminding people to thoroughly check the background of thei investment professional.  The Alert cautions investors not to “trust someone with your investment money just because he or she claims to have impressive credentials or experience, or manages to create a ‘buzz of… Read more »

The SEC says Utah investors are too trusting

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This article by Caleb Larkin appeared in the Ogden Standard Examiner on June 8, 2015: SALT LAKE CITY – The Securities and Exchange Commission (SEC) in Salt Lake City reports Utahns tend to invest in Ponzi and other financial fraud schemes at a higher rate than most states. The SEC has 12 office locations nationwide that cover… Read more »

The SEC’s New Whistleblower Program Has Proven to be a Game Changer

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SEC Chair Mary Jo White gave a speech at the Northwestern University School of Law on April 30, 2015 on the SEC’s new Whistleblower Program.  She called it a “game changer.”  She said that despite criticism, whistleblowers provide “an invaluable public service” the SEC increasingly sees itself as the “whistleblower’s advocate.” Whistleblower Statistics After just… Read more »

Receiverships: Recovery Can Be More than Pennies on the Dollar

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By Jared N. Parrish “Once a receiver takes over you won’t see a dime.” “The lawyers for the receiver will just take all the money and leave nothing for investors.” “Don’t file a claim because there won’t be any money available anyway.” These are some of the most common statements I hear from investors who… Read more »

How an Employment Agreement Can Get you In Hot Water With the SEC

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I don’t usually give employment advice, but the SEC this week announced a settlement with KBR, Inc. that should prompt every company to check its employee agreements. Even fairly innocuous confidentiality language that might seem unobjectionable to some could lead to an SEC enforcement action under the SEC’s interpretation of the Dodd-Frank Wall Street Reform… Read more »

Four tips to avoid getting fleeced by your broker

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This is a brief but helpful article from the Associated Press that appeared in the Salt Lake Tribune today.  I would add that although the majority of stock brokers are honest and straightforward, there are some out there who are not so it pays to do your homework online before you hire someone to manage… Read more »

Former American Pension Services CEO Curtis DeYoung Has Been Indicted

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The former president and CEO of American Pension Services, Curtis L. DeYoung, was indicted Wednesday by a federal grand jury on 15 charges of mail fraud.  Each of these counts carries a possible 20-year prison term and a fine of $250,000.  According to a press release by the United States Attorney’s Office for Utah, the indictment alleges… Read more »