Costello Law Group
Representing Clients Nationwide – Free Initial Consultations
Local 410-832-8800 Toll Free 877-418-0003

SEC States One-Third of Reviewed Investment Firms Mishandling Client Assets

On March 4, 2013, the Securities and Exchange Commission (SEC) cautioned investors that they found significant deficiencies in how investment advisers handle client assets. Specifically, that advisers had failed to maintain control of clients' assets or comingled client, proprietary and employee assets in a single account.

The SEC identified problems in the handling of client assets in one-third of the 140 firms it reviewed. Preventing Ponzi schemes, like that of Bernard Madoff, has become a top priority of the SEC. "Because the safeguarding of assets is central to investor protection, it is critical that investment advisers follow our rules when they maintain custody of their clients' funds" said SEC chairman Elissee Walter.

If you are a victim of securities fraud, financial malpractice, Ponzi scheme, broker theft by a FINRA registered broker or have requested to withdraw money from your account and have been turned down please call the securities attorneys of The Costello Law Group at (877) 418-0003 for a free consultation.

For more information on the SEC's examination please visit:http://www.investmentnews.com/article/20130304/FREE/130309972

No Comments

Leave a comment
Comment Information
EMAIL US FOR A RESPONSE

Seek Legal Assistance

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

409 Washington Avenue Suite 410
Towson, MD 21204

Toll Free: 877-418-0003
Phone: 410-832-8800
Fax: 410-832-8807
Towson Law Office Map