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December 2009
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In this issue, Secretary Marshall calls on Congress to enact financial services
reforms that treat all investors with the highest standard of care no matter who
is recommending an investment to them. Also featured is an article on affinity fraud,
or fraud that is aimed at a group of people who share common characteristics. Also
included is a recent administrative action against Mason Barnes, Bradley Kirk Turner
and Kentucky Mountain View Petroleum. Finally, we've added a new feature: a calendar
of upcoming events.
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November 2009
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This issue provides an update on the "Free Lunch Monitor Program" jointly sponsored
by AARP and the North American Securities Administrators Association (NASAA) and
discusses annuities, one of the products frequently promoted at the free lunch seminars.
It also includes the notice that Barbara Bennett, the Securities Division's Investor
Education Specialist, has been chosen to serve as a member of NASAA's newly-created
Women in Transition Outreach Project Group. Information is also provided about the
settlement in principle reached between state securities regulators and Wells Fargo
Investments, LLC, on the return of approximately $1.3 billion to the firm's clients
who had invested in auction rate securities (ARS). Finally, in a case that was first
uncovered by the North Carolina Securities Division, a federal jury in South Carolina
recently convicted three men, collectively known as the Three Hebrew Boys, for running
an $82 million Ponzi scheme that involved over 7,000 investors world-wide, many
of whom were members of the Armed Services who either are or have been stationed
in North Carolina.
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October 2009
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This issue includes information about the investor education initiative undertaken
jointly by the Department of the Secretary of State, the FINRA Investor Education
Foundation, and NC AARP. It also includes the notice that David Massey, Deputy Securities
Administrator, has been chosen to be President-elect of the North American Securities
Administrators Association (NASAAA). Finally, it includes information about recent
enforcement actions taken against Charles Devernie Harrison,
Charles Mark Hall, Sean F. Mescall and CapitalStreet Financial, LLC. |
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September 2009
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This issue includes a list of upcoming public events that are scheduled through
the beginning of November. It also lists the Top 10 Investor Traps for 2009. |