≡Menu

Category Archives: Securities

October 02

FINRA, International Business & Trade, Securities

SEC Complaint Against New Jersey Fund Operator Illustrates Ponzi Scheme Warning Signs

On September 10, 2026, The Securities and Exchange Commission (“SEC”) charged a New Jersey fund operator and two companies he controls, alleging that they raised approximately $16 million from more than 200 unsophisticated investors through a Ponzi scheme beginning in January 2020. The complaint alleges misappropriation of more than $5.8 million for the operator’s personal use and Ponzi-like payments of approximately $6.6 million. The allegations remain unproven. This article examines…

September 29

Securities

SEC Creates Retail Fraud Working Group to Target Scams Against Everyday Investors

On July 7, 2026, The U.S. Securities and Exchange Commission (“SEC”) announced in a press release that it would be creating a Retail Fraud Working Group “to strengthen the Division of Enforcement’s efforts to identify and combat fraud targeting everyday investors.” Since the working group is new, its enforcement results remain to be seen. However, its creation signals that fraud involving individual investors will remain a central focus of the…

December 15

FCA Qui Tam, Securities, Whistleblowers

SEC Whistleblower Tip Leads to Charges in $770M Ponzi Scheme Targeting Retail Investors

The SEC has charged a Pennsylvania resident and his companies with running a $770 million Ponzi scheme that defrauded thousands of retail investors. While the agency has not yet disclosed whether a tip came from a whistleblower, the scale of the fraud highlights the critical role SEC whistleblowers play in uncovering investor fraud and driving major enforcement actions. Primary Allegations In a press release on September 3, 2025, the Securities…

June 01

FINRA

FINRA Forward: What It Means for Investors

The Financial Industry Regulatory Authority (FINRA) is a not-for-profit self-regulatory organization which protects the integrity of the market and protects investors, specifically for member brokerage firms doing business in the United States. FINRA creates and enforces rules, educates the public, and registers and trains broker-dealer personnel. On April 21, 2025, FINRA launched a new initiative entitled “FINRA Forward,” which is aimed at modernizing its regulations, improving member firm compliance, and…

May 28

Whistleblowers, Securities

Why an SEC Whistleblower Lawyer Matters: $6 Million Award Highlights Program’s Power

SEC Whistleblower Lawyers Secure $6 Million Award On April 21, 2025, the Securities and Exchange Commission (“SEC”) announced a $6 million award to joint whistleblowers who disclosed information that launched an examination and provided a clear framework that contributed to a successful enforcement action. “Today’s award illustrates that the agency can leverage whistleblower information in various ways, including by prompting an examination,” said Jonathan Carr, the Acting Chief of the…

May 22

Business and Corporate Services, FINRA

Market Volatility Exposes Risks in Structured Note Investments

As recent market swings rattle investor portfolios, many are realizing the steep risks embedded in structured note investments once marketed as safe or principal-protected. This article outlines how structured notes can fail during volatile conditions and how Miller Shah LLP supports institutional and individual investors pursuing recovery for losses stemming from misrepresented or poorly structured financial products. What are Structured Notes? A structured note is a combination of a bond…

April 09

Securities

SEC Charges NJ Adviser with Fraud, Breach of Fiduciary Duty

The Securities and Exchange Commission (SEC) announced that it has filed charges against David Yow Shang Chiueh and his New Jersey-based investment advisory firm, Upright Financial Corp. (UFC) (“Defendants”), for fraud and breach of fiduciary duty, among other securities law violations. In November 2021, the firm settled charges that they had breached the fiduciary duties outlined in the Concentration Policy of its mutual fund, known as Upright Growth Fund, by…

April 03

FINRA, Securities

Supreme Court FINRA Ruling Allows Case Against Alpine Securities

On March 14th, 2025, the Supreme Court denied Alpine Securities’ request to halt Financial Industry Regulatory Authority (FINRA) expulsion proceedings against it. The Supreme Court’s denial of Alpine’s appeal suggests the judiciary recognizes FINRA’s enforcement authority as a self-regulatory entity and holds implications for the structure of non-governmental securities organizations. FINRA is a private, self-regulating organization that develops and implements enforcement rules for broker-dealer firms. FINRA is overseen by the…

April 01

Securities

Crypto Regulation Moves Forward as SEC Crypto Task Force Hosts Roundtables and Names New Leadership

The Securities and Exchange Commission (SEC) announced the establishment of a new Crypto Task Force on February 4th, 2025. Their role is to apply federal securities laws and protect investors from fraudulent activities within the crypto asset market. A month later, on March 3rd, 2025, the SEC announced the members that comprise the Crypto Task Force staff as advisors on the matter of crypto. The creation of this task force…

March 24

FINRA, Securities

Robinhood FINRA Settlement: Broker to Pay $29.75M for Violations

Robinhood Markets, Inc. (“Robinhood”), an electronic trading platform known for offering commission-free trading via its mobile app, has agreed to pay a $26 million settlement to the Financial Industry Regulatory Authority (“FINRA”) over accusations that it failed to address warning signs of potential misconduct and did not verify the identities of thousands of its customers. The company must also pay $3.75 million in restitution to customers. Robinhood did not admit…

While this website provides general information, it does not constitute legal advice. The best way to get guidance on your specific legal issue is to contact a lawyer. To schedule a meeting with an attorney, please call 866-540-5505 or complete the intake form to email us. To inquire about employment opportunities with Miller Shah LLP, please see our Opportunities page.

Offices Throughout
the United States & Italy

Get Fort Lauderdale Directions

IT Milan

Fax number

866-540-5505

Telephone

Attorney Advertising. This information is designed for general information only. The information presented should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Past results and testimonials are not a guarantee, warranty, or prediction of the outcome of your case, and should not be construed as such. Past results cannot guarantee future performance. Any result in a single case is not meant to create an expectation of similar results in future matters because each case involves many different factors, therefore, results will differ on a case-by-case basis. By providing contact information, users acknowledge and give explicit consent to be contacted via the methods of communication provided, including SMS. Message and data rates may apply. Message frequency may vary. Reply STOP to opt out.