This article follows up on a recent article reported in Reuters concerning Atlas Energy LP’s private placement partnerships in oil and gas. Atlas Resources LLC, a subsidiary the energy group, has filed documents with the SEC for Atlas Resources Series 34-2014 LP stating that it seeks to raise as much…
As recently reported in Reuters, Atlas Energy LP has marketed itself to investors as a way to get into the U.S. energy boom. By contributing at least $25,000 in a private placement partnership that will drill for oil and gas in states such as Texas, Ohio, Oklahoma and Pennsylvania and…
The Financial Industry Regulatory Authority (FINRA) recently filed a complaint against LPL Financial LLC (LPL) broker Jon Cox (Cox) alleging that Cox may have engaged in unauthorized outside business activities, private securities transactions (a/k/a “selling away”), and/or unauthorized customer loans. According to Cox’s BrokerCheck, Cox was terminated in January 2014…
Gana Weinstein LLP is investigating JPMorgan Securities (“JP Morgan”) in connection with the supervision of Benjamin Doyle Maleche and allegations of “selling away.” “Selling away” occurs when a securities broker or broker-dealer buys, solicits, or sells securities that were not approved by the broker’s affiliated firm or recorded on the firm’s books and…
According to InvestmentNews, LPL Financial, LLC (LPL Financial) was recently fined by Massachusetts securities regulators fined for sales practices concerning variable annuities and agreed to reimburse senior citizens $541,000 for surrender charges they paid when they switched variable annuities. LPL Financial and its brokers have been on the defensive from…
Gana Weinstein LLP is investigating LPL Financial after its stunning termination of James “Jeb” Bashaw, a former broker with LPL Financial. According to FINRA’s BrokerCheck Report, LPL Financial terminated Mr. Bashaw for “participating in private securities transactions without providing written disclosure to and obtaining written approval from the firm.” In addition,…
Since the financial crisis the non-traded real estate investment trust (REIT) market has been a financial boon for the brokerage industry. A REIT is a security that invests typically in real estate related assets. Generally, REITs can be publicly or privately held. While publicly held REITs can be sold on…
LPL Financial, LLC (LPL) is one of the largest independent brokerage firms in the United States employing approximately 13,840 registered reps and advisers. However, the firm’s growth has come with a host of regulatory actions focusing on the firm’s alleged supervisory failures. Recently, InvestmentNews reported that the firm was hit…
On September 11, 2014, FINRA, permanently barred Kenneth W. Schulz, a former broker of LPL Financial from associating with any FINRA member. According to the Letter of Acceptance, Waiver and Consent, in June 2013, Kenneth W. Schulz directed a registered assistant to impersonate six of Schulz’s former customers in phone calls…
LPL Financial was recently fined $2 million and ordered to pay $820,000 in restitution, for violations pertaining to variable annuity exchanges. This settlement, which was reached with the Illinois Securities Department, resulted from LPL’s inadequate maintenance of books and records with regards to documenting 1035 exchanges. A 1035 Exchange is…
We use cookies to improve the experience of our website. By continuing to use our website, you consent to the use of cookies.
To understand more about how we use cookies, please see our Privacy Policy.