Additional Archives
Securities Division Newsletters
December 2009
In this issue, Secretary Marshall calls on Congress to enact financial services reforms that treat all investors with the highest standard of care no matter who is recommending an investment to them. Also featured is an article on affinity fraud, or fraud that is aimed at a group of people who share common characteristics. Also included is a recent administrative action against Mason Barnes, Bradley Kirk Turner and Kentucky Mountain View Petroleum. Finally, we've added a new feature: a calendar of upcoming events.
November 2009
This issue provides an update on the "Free Lunch Monitor Program" jointly sponsored by AARP and the North American Securities Administrators Association (NASAA) and discusses annuities, one of the products frequently promoted at the free lunch seminars. It also includes the notice that Barbara Bennett, the Securities Division's Investor Education Specialist, has been chosen to serve as a member of NASAA's newly-created Women in Transition Outreach Project Group. Information is also provided about the settlement in principle reached between state securities regulators and Wells Fargo Investments, LLC, on the return of approximately $1.3 billion to the firm's clients who had invested in auction rate securities (ARS). Finally, in a case that was first uncovered by the North Carolina Securities Division, a federal jury in South Carolina recently convicted three men, collectively known as the Three Hebrew Boys, for running an $82 million Ponzi scheme that involved over 7,000 investors world-wide, many of whom were members of the Armed Services who either are or have been stationed in North Carolina.
October 2009
This issue includes information about the investor education initiative undertaken jointly by the Department of the Secretary of State, the FINRA Investor Education Foundation, and NC AARP. It also includes the notice that David Massey, Deputy Securities Administrator, has been chosen to be President-elect of the North American Securities Administrators Association (NASAAA). Finally, it includes information about recent enforcement actions taken against Charles Devernie Harrison, Charles Mark Hall, Sean F. Mescall and CapitalStreet Financial, LLC.
September 2009
This issue includes a list of upcoming public events that are scheduled through the beginning of November. It also lists the Top 10 Investor Traps for 2009.