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 ...

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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...

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UBS Financial Services Inc. of Puerto Rico and two of its executives have agreed to settle charges of fraudulent conduct related to mutual funds by paying $26.6 million, to be placed into an account for harmed investors.

The fraud consisted of misleading statements made to investors, concealment of a liquidity crisis, and the obscuring of UBS Puerto Rico's control of the secondary market for 23 of its non-exchange-traded, closed-end mutual funds (CEFs). The Securities and Exchange Commission (SEC) brought the charges through an Read Full Article

Investment adviser Brenda A. Eschbach has consented to an entry of judgment against her for misappropriating over $3 million in client funds, the Securities and Exchange Commission (SEC) announced on Feb. 15.

According to the complaint filed by the SEC in U.S. District Court for the Central District of California on Feb. 14, Eschbach stole funds clients had given her to make investments. Her fraudulent scheme ran from 20...

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