Today the North American Securities Administrators Association (NASAA) announced a massive LPL Financial settlement with state securities regulators relating to over a decade of sales of unregistered securities by LPL brokers. Under the terms of the LPL Financial settlement, the firm agreed to repurchase from investors certain securities that were sold to them since October,…
Continue reading ›This past Thursday, the same day I posted about a recent FINRA Investor Alert regarding cryptocurrency, there was a new press release from the North American Securities Administrators Association (NASAA) with further guidance on the same topic. NASAA’s analysis and warning amounts to this: Initial Coin Offerings (“ICOs”), and all other investment products related to…
Continue reading ›(October 23) The annual enforcement survey of the North American Securities Administrators Association (NASAA) released today shows an increase in state-level securities law enforcement. State securities regulators investigated roughly 6000 cases. About 10% were related to financial abuse of seniors. Unregistered sellers of unregistered securities amounted to the largest single category of investment fraud. NASAA…
Continue reading ›Banks Law Office is proud to have worked with the North American Securities Administrators Association (NASAA) in filing an Amicus Brief in the Oregon Supreme Court last week. The brief argues that the Oregon Court of Appeals’ decision State of Oregon v. Marsh & McLennan Companies, Inc., 241 Or. App. 107, 250 P.3d 371 (2011),…
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