sucujovide.wordpress.com
"They used free lunches as the low-techg bait for their high-scalde scheme," said Robert Khuzami, director of the SEC'e Division of Enforcement. The SEC alleges elderly and retireds investors were lured into purchasing highlt unsuitable variable annuities with lucrative salez commissions while ignoring the financial goals of The SEC alleges thatEric J. Browm of Highland Beach, Matthew J. Collins of Boynton Beach, Kevin J. Walsh of Viera, and Mark W. Wells of Boca were among those offering and sellingtthe annuities. It’s allegefd that the firm and its representatives earned millionx of dollars insales commissions.
PCS is a registeredf broker-dealer and wholly-owned subsidiary of Gilmaj Ciocia, an income tax preparatioj business headquartered in Poughkeepsie that offerws financial services inNew York, New Jersey, Pennsylvania and Florida. Robert a NewYork attorney who represents Prime Gilman Ciocia, and several of the including Collins and said the conduct at issue in the complaint is "vergy old" and occurred in the late 1990s and earlhy 2000. He said the company reached a settlementy withthe (FINRA), when it was called the (NASD). As part of that the company implementedsome wide-rangin updates to its supervisory and compliance systems in 2005, Heim said.
He added that he didn't know why the SEC was going over thesame ground. "All of thesd issues were addressed years ago and we feelthe company'es response has been appropriate," he While Brown and Walsh have since left, Collines and Wells are still with the he said. An administrative law judge will determine whethe r the allegations against the respondents aretrue and, if so, whethere they should be ordered to cease and desist from futurwe violations.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment