Jun 18
2019

Investor Alert: The Perils of Pension Income Deals

A pension provides something extremely valuable to any retiree: Guaranteed income.

A pension pays a monthly annuity for the life of the pension holder. If you are a retiree receiving an annuity, or an active employee in a government or private pension plan, you know its value.

...

Jun 7
2019

One Dallas Adviser Suspended, A Second Ordered to Repay Commissions

Texas Securities Commissioner Travis J. Iles on June 6 sanctioned two Dallas-area investment adviser representatives for selling unsuitable investments to clients.

The Commissioner suspended investment adviser representative Mark A. Trewitt for 90 days for selling unsuitable investments...

May 16
2019

In A Self-Directed IRA, Make Sure You're Not Your Own Worst Enemy

View this Investor Alert, Self-Directed IRAs: More Choices, More Risk , in a print-ready format.

Investing for retirement usually means buying stocks, bonds, and mutual funds through a workplace retirement plan like a 401(k) or in your own Individual Retirement Account (IRA).

If you...

May 1
2019

Order: Elderly Dallas Woman Victim in Widespread Precious Metals Fraud

Texas Securities Commissioner Travis J. Iles entered an emergency action on May 1 against Metals.com, an unregistered firm accused of cold-calling elderly investors to convince them to liquidate their securities in registered firms and invest in precious metals.

According to the...

Apr 29
2019

Joe Reads 'Investing for Retirement.' Future Joe Says, 'Thanks, Man!'

As part of Financial Capability Month, the State Securities Board has updated its primer on Investing for Retirement .

A guy named Joe reads Investing for Retirement . Future Joe really appreciates it, because he has learned about the different ways a person can save for retirement,...

Apr 24
2019

Choosing a Financial Professional

As part of Financial Capability Month, the Texas State Securities Board has updated its primer on Choosing A Financial Professional .

At some point you may turn to a financial professional for help, particularly if you're trying to achieve different goals like planning for retirement,...

Apr 18
2019

Mind Your P's: Investment Pitches, People, and Products to Avoid

April is Financial Capability Month. This Investor Alert is based on the State Securities Board's updated report on Scams and Unsuitable Investments

Certain types of investments—even if they are legitimate—should always raise red flags. If an investment seems overly complicated,...

Apr 11
2019

LPL Pays $450,000 to Texas for Selling Unregistered Securities

LPL Financial LLC will pay a $450,000 fine to the State of Texas and repurchase certain securities it sold to investors, Texas Securities Commissioner Travis J. Iles announced April 11.

The Consent Order with Texas is part of national settlement between state securities regulators and...

Apr 10
2019

Order: Crypto and Forex Firm Trading Mostly in Falsehoods

Texas Securities Commissioner Travis J. Iles took emergency action April 9 to stop an international offering of cryptocurrency and foreign currency investments by a company using a phony address and falsely claiming it is registered as a broker-dealer and investment adviser.

The...

Apr 9
2019

Investor Advisory: Robo-Advisers

April is Financial Capability Month. The State Securities Board and the North American Securities Administrators Association are issuing this Alert to help investors better understand the emerging investment business of robo-advisers. View the Alert in a print-ready format.

Investors...

Mar 31
2019

Administrative Action Report Jan-Mar 2019

The following are summaries of administrative actions the Texas State Securities Board took from Jan. 1 through March 31, 2019:

Raymond Cui: Fine, Reprimand

Raymond Cui of Houston was reprimanded and fined $5,000 Feb. 19 for violating State Securities Board rules requiring the timely...

Mar 12
2019

Dallas Investment Promoter 'Doc' Gallagher Arrested In Alleged $19M Fraud

William Neil “Doc” Gallagher , who promotes his investment business on Christian radio and in books like “Jesus Christ, Money Master,” has been arrested to face first-degree state felony charges of securities fraud and money laundering in Dallas County.

In a related action, the U.S....

Mar 7
2019

Medical Device Promoter Ordered to Stop Investment Offering

Texas Securities Commissioner Travis J. Iles took emergency action on March 7 to stop Randall Johnson , the president of a Georgetown wellness company, from fraudulently offering investments in a machine that Johnson claims to be “the most advanced early screening system” for primary care...

Feb 22
2019

Commissioner Fines Crypto-Investing Firms, Obtains Repayment for Investors

Utah-based firms that illegally sold unregistered cryptocurrency-mining investments paid a $25,000 fine to the State of Texas and will offer Texas residents full repayment of any money they invested.

Under the terms of a Feb. 21 Order , NUI Social LLC, Mintage Mining LLC, and related...

Feb 7
2019

2018 Enforcement Report: Blind Faith, Fraud, and Millions of Dollars Lost

When it comes to investing, blind faith can be very expensive.

The State Securities Board Enforcement Report for 2018 , released Feb. 7, highlights cases in which individuals took it on faith that they were putting their money into legitimate investments managed by legitimate executives...

Jan 28
2019

Following State Criminal Cases, SEC Sues N. Texas Trio in $44 Million Fraud

The Securities and Exchange Commission has sued three individuals for operating a complex web of real estate development companies in North Texas that defrauded investors of at least $44 million.

The SEC civil action , filed in U.S. District Court in Dallas on Jan. 25, follows criminal...

Jan 9
2019

Order the 2019 Texas Investor Guide

The 2019 edition of the Texas Investor Guide is here, so the sooner you order copies the sooner you'll be able to start the new year with the unbiased, no-nonsense guidance you need to invest wisely and avoid financial fraud.

Regardless of income, age, or overall fiscal health, the...

Dec 31
2018

Administrative Action Report Oct-Dec 2018

The following are summaries of administrative actions the Texas State Securities Board took from Oct. 1 through Dec. 31, 2018:

GoForex Group AKA Go Forex Group, Mary A. Scott, and Sharon Henderson: Emergency Cease and Desist Order

Texas Securities Commissioner Travis J. Iles on Oct. 10...

Nov 28
2018

Commissioner Acts to Stop Crypto Promoter's Second Scheme

Texas Securities Commissioner Travis J. Iles entered an emergency action Nov. 27 to stop an investment offering by a cryptocurrency promoter who previously sold a digital currency that lost 99% of its value.

The Emergency Cease and Desist Order alleges that Mark Steven Royer of Del Mar,...

Nov 14
2018

North Texas Developer Indicted for Alleged $17 Million Real Estate Fraud

Phillip Michael Carter of Frisco was arrested Nov. 13 to face state fraud charges in connection with raising $17.5 million from nearly 100 Texas investors – many of them elderly – for real estate development projects in North Texas.

Shelley Noel Carter , Phillip Carter’s wife, was...

Nov 6
2018

Dallas Adviser to Pay $52,569 in Fines and Reimbursed Fees

Brazos Securities Inc. of Dallas will pay a $20,000 fine to the State of Texas and pay $32,569 to a client who was charged excessive fees after being moved to an investment advisory account at the firm.

The Disciplinary Order , which Texas Securities Commissioner Travis J. Iles entered...

Nov 5
2018

Broker-Tech Firm Fined $25,000 for Unregistered Activity

Texas Securities Commissioner Travis J. Iles entered a Disciplinary Order on Nov. 5 that levied a $25,000 fine on Trade-PMR Inc. , a provider of brokerage and technology services, for failing to know that two investment advisers using its services were not registered to render investment advice...

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