ATTORNEY NEWSLETTER Commodity Futures Trading Commission Whistleblower Program Futures and derivatives trading played a major part in this country’s financial crisis of 2008. Some of that trading was based on misrepresentations and fraud.  The Commodity Futures Trading Commission (CFTC) oversees futures, options, currency and derivatives trading in the United States […]

ATTORNEY NEWSLETTER Securities and Exchange Commission Whistleblower Awards Last year alone the Securities and Exchange Commission (SEC) received over 4400 tips about securities fraud from whistleblowers and other complainants. During the course of 2017, the SEC awarded nearly $50 million in whistleblower awards to individuals with new information leading to […]

ATTORNEY NEWSLETTER Beware the Sales Push on Indexed Universal Life Insurance Life Insurance and Retirement Savings Indexed universal life insurance policies (IULs) have been around for years. The sales pitch is always better, tax-deferred, returns on investment.  Some insurance carriers are shifting focus entirely from indexed annuities to IULs as […]

ATTORNEY NEWSLETTER FINRA Cracking Down on Faulty Annuity Replacements Cracking Down on Exploitation The Financial Industry Regulatory Authority (FINRA) is the independent authority that governs the nation’s financial industry, including the sale of annuities to American consumers. Lately, FINRA has begun to look closely at brokers who churn their clients’ […]

ATTORNEY NEWSLETTER Government Agencies and the Fiduciary Rule Putting You First Last year, the Department of Labor (DOL) announced its fiduciary rule which applies primarily to retirement investment advisors; the rule requires your advisor to put your interests first when it comes to certain retirement savings recommendations. Recently, the Securities […]

ATTORNEY NEWSLETTER Whole and Universal Life Insurance Whole and Universal (a mix of whole and term) life insurance policies are sold by agents as tax-deferred savings vehicles. Often the sales pitch to younger consumers is for retirement or education savings.  For seniors, the pitch includes retirement savings and death benefits […]

ATTORNEY NEWSLETTER Government Announces Record Whistleblower Awards Recently, two government agencies reported record whistleblower awards to be paid out on two separate cases.[1]  In the first, the Securities and Exchange Commission (SEC) reported that two whistleblowers would receive a combined $61 million in awards.  The SEC’s previous record was a […]

ATTORNEY NEWSLETTER Illegal Churning of Accounts Securities Fraud and Financial Elder Abuse A recent Southern California case of stockbroker churning reveals the seriousness of allegations of broker misconduct, especially when the misconduct targets seniors. Churning means excessive trading by a broker in a client’s account largely to generate commissions. Stock […]

ATTORNEY NEWSLETTER Be Wary of Anti-Volatility Gimmicks On Monday, February 5, the Dow Jones Industrial Average fell by more than 1,179 points, the biggest daily point loss in its history. Although the market recovered, many investors, including seniors and those nearing retirement, understandably have the jitters.  In a volatile market, […]

ATTORNEY NEWSLETTER Bipartisan Budget Act Enhances Whistleblower Awards The recently enacted Bipartisan Budget Act of 2018 includes two important provisions favoring whistleblower awards in tax avoidance whistleblower cases, False Claims Act cases, and securities fraud whistleblower cases. The San Francisco County and California whistleblower/qui tam attorneys at Evans Law Firm […]