securities Archives - The Industry Spread

SEC Explains Differences Between Brokers and Investment Advisors

October 7, 2019

An investment advisor, Clayton noted, “generally manages your account. The advisor can advise you to buy, sell, or hold the securities and the advisor can make some of or all of those decisions for you.” As such, an investment advisor has more decision-making power than does the broker.

BB&T to Return More Than $5 Million to Retail Investors and Pay Penalty Relating to Directed Brokerage Arrangements

March 8, 2019

The Securities and Exchange Commission today announced that BB&T Securities has agreed to return more than $5 million to retail investors and pay a $500,000 penalty to settle charges that a firm it acquired misled its advisory clients into believing they were receiving full service brokerage services in-house at a discount while significantly less expensive options were available externally.

SEC Charges Agria Corporation and Executive Chairman With Fraud

December 11, 2018

A multinational agricultural company has agreed to pay $3 million to settle charges that it concealed substantial losses from investors through fraudulent accounting in connection with its divestiture of its primary operating entity.  In a related action, the company’s executive chairman Lai Guanglin (aka Alan Lai) settled charges that he manipulated the company’s share price.

Canadian securities regulators provide additional guidance on securities law implications for offerings of tokens

June 13, 2018

Montréal – The Canadian Securities Administrators (CSA) today published CSA Staff Notice 46-308 Securities Law Implications for Offerings of Tokens, which provides additional guidance on the applicability of securities laws to offerings …