On January 30, 2013, the SEC charged five former real-estate executives with defrauding investors in an investment scam. The investors were led to believe that they were funding the development of five-star destination resorts in Florida and Las Vegas when they were actually buying into a ponzi scheme. The SEC alleged in the complaint that…
A uniform fiduciary duty for broker-dealers and advisers has been a prevalent topic since 2010 when the Dodd-Frank Financial Reform Act was signed into law. Despite the SEC’s initial efforts to study whether a uniform fiduciary duty was appropriate, the subsequent process of implementing the uniform fiduciary duty stalled over the last couple of years…
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