Monthly Archives: September 2012

“Control Person” Claims on Rise as FINRA Membership Declines

In 2005, there were more than 5,100 broker / dealers registered with FINRA.  By the end of 2010, there were less than 4,700 broker / dealers registered with FINRA.  Since 2010, that number has declined even more with some well-known … Continue reading

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U.S. Employers Now at Risk for OSC Penalties for E-Verify Violations

This week the Justice Department settled with Diversified Maintenance Systems, LLC, a provider of janitorial and facilities maintenance services based in Tampa, Florida. The Office of Special Counsel (“OSC”) pursued the Florida employer claiming they retaliated against one of their … Continue reading

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Potential class action against Behringer Harvard REIT I may lead to influx of FINRA arbitrations

A Texas investor recently filed a potential class action lawsuit against Behringer Harvard REIT I (“Behringer Harvard”), which is one of the largest Real Estate Investment Trusts in the United States and currently has more than $4.0 Billion in assets. … Continue reading

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USCIS Releases New E-Verify Enhancements

This week the United States Citizenship and Immigration Services (USCIS) released a series of E-Verify enhancements which will go into effect immediately for all users of the E-Verify web interface. These changes appear to be subtle enhancement and not a … Continue reading

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Dispute over E-Verification Leads to NLRB Hearing

Two California hotels currently find themselves in dispute with their labor unions over enrollment in the E-Verify Program. The legal basis for the unions complaints alleged that both hotels, respectively, enrolled and implemented E-Verify without first notifying or providing the … Continue reading

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ICE Investigation Leads to $145,000 in Fines and Criminal Charges for St. Louis Employer

As a result of a U.S. Immigration and Customs Enforcement investigation, a St. Louis landscaping business and owner, Robert Brake, were sentenced to two years of probation, and paid $145,000 in forfeitures, for misdemeanor and felony charges of employing illegal … Continue reading

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The Impact of the JOBS Act

In January 2011, President Obama unveiled the Startup America Initiative which included the Jump-Start Our Business Startups (“JOBS”) Act. The JOBS Act was designed to help raise capital for small and new businesses in today’s rough economic times. Yet, certain … Continue reading

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Civil Enforcement Actions: Lessons for Investment Advisors

The Securities and Exchange Commission (“SEC”) recently commenced an action against radio personality Ray Lucia, accusing the radio personality of misleading investors to think that his investment strategies helped retirees “generate inflation-adjusted income for life.”  Lucia promotes his investment programs … Continue reading

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