The Securities and Exchange Commission obtained an emergency court order freezing the assets of Ron Harrison, who runs Global Trading Institute in Ladera Ranch, California, along with the assets of the institute and of Harrison's girlfriend, for allegedly carrying out an ongoing investment advisory fraud.
According to the SEC's complaint, Harrison fraudulently charged 22 clients more than $900,000 in fees since 2016 based on the gains he made trading options in their brokerage accounts, when in fact almost all of the clients suffered substantial losses.
The complaint also alleges that Harrison failed to disclose to clients that the Financial Industry Regulatory Authority Inc. had barred him from the securities industry.
The complaint also named Global Trading Institute as a defendant for allegedly participating in Harrison's fraud and named his girlfriend, Irina Parfyonova, as a relief defendant for allegedly having received more than $279,000 in proceeds from the fraud from Harrison.
Wall Street leaders propose ways to monetize the mortgage giants.
A Texas-based bank selects Raymond James for a $605 million program, while an OSJ with Osaic lures a storied institution in Ohio from LPL.
The Treasury Secretary's suggestion that Trump Savings Accounts could be used as a "backdoor" drew sharp criticisms from AARP and Democratic lawmakers.
Changes in legislation or additional laws historically have created opportunities for the alternative investment marketplace to expand.
Wealth managers highlight strategies for clients trying to retire before 65 without running out of money.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
