|
The SEC finds that most investors are financially illiterate and susceptible to investment fraud
|
|
August 31, 2012 @ 8:23 am |
The United States Securities & Exchange Commission, as required by Section 917 of the Dodd-Frank Wall Street Reform and Consumer Protection Act issued a report today on Investor Literacy.
Not surprisingly, the study found that U.S. retail investors lack basic financial literacy and that investors have a weak grasp of elementary financial concepts and lack critical knowledge of ways to avoid investment fraud. Surveys also demonstrate that certain subgroups, including women, African-Americans, Hispanics, the oldest segment of the elderly population, and those who are poorly ...
Read Full Article
|
|
SEC Charges College Football Hall of Fame Coach in $80 Million Ponzi Scheme
|
|
August 29, 2012 @ 9:21 am |
The Securities and Exchange Commission announced fraud charges against James M. Donnan, III, and Gregory L, Crabtree for allegedly perpetrating a Ponzi scheme. Donnan resides in Athens, Georgia, and Crabtree resides in Proctorville, Ohio. The complaint also names two of Donnan's children, Jeffrey Todd Donnan and Tammy L. Donnan, and his son-in-law, Gregory K. Johnson, as relief defendants.
According to the SEC's complaint filed yesterday in federal court in Atlanta, between at least August 20...
Read Full Article
|
|
FINRA Warns Investors on the Risks of Exchange Traded Notes
|
|
August 2, 2012 @ 7:01 pm |
Recently, an issuer of Exchange Traded Notes (ETNs) ceased issuing new notes of a certain type. This caused the trading price of that ETN to spike by nearly 90 percent. When the issuer resumed issuing the notes of that type, their market price plunged by more than half in two days.
To help investors avoid such unpleasant surprises, on July 10, the Financial Industry Regulatory Authority (FINRA) issued an investor alert on ETNs.
As debt securities that trade on excha...
Read Full Article
|
|
