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SEC Charges New York-Based Firm and Supervisors for Failing to Supervise Brokers Who Defrauded Customers I SEC Press Release

sec.gov SEC Charges New York-Based Firm and Supervisors for Failing to Supervise Brokers Who Defrauded Customers The Securities and Exchange Commission today charged New York-based broker-dealer Alexander Capital L.P. and two of its managers for failing to supervise three brokers who made unsuitable recommendations to investors, “churned” accounts, and made unauthorized trades that resulted in substantial losses to the firm’s customers while generating large commissions for the brokers. Today’s actions find that Alexander Capital failed to reasonably supervise William C. Gennity, Rocco Roveccio, and Laurence M. Torres, brokers who were previously charged with fraud in September 2017 .  According to the order, Alexander Capital lacked reasonable supervisory policies and procedures and systems to implement them, and if these systems were in place, Alexander Capital likely would have prevented and detected the brokers’ wrongdoing.

European Stock Markets at Close Report I CNBC

cnbc.com European stocks finish on a high after EU migration deal; oil prices clim b Sam Meredith, Alexandra Gibbs European equities closed higher on average Friday after EU leaders hashed out a deal on migration, although underlying market sentiment was soured somewhat by ongoing anxiety over ongoing global trade frictions. The pan-European Stoxx 600 ended the session up 0.81 percent provisionally, supported

Bitcoin's Price Falls Below $6000 I Investopedia

investopedia.com Bitcoin's Price Falls Below $6000 Daniel Liberto The bitcoin sell-off is showing little sign of easing. On Thursday, at approximately 21:00 UTC, the price of the largest cryptocurrency by market cap drifted below $6,000 for the second time this month, according to Coindesk data. Over 12 hours later, at 9:51 UTC, bitcoin was trading at $5,902, representing a sharp 70% decline from its December peak of $19,500. According to Bloomberg composite prices, it reached its lowest level since November when it sank to $5,791.19 on Friday. The downward spiral has coincided with a series of negative reports, including news of several big hacks, talk of tighter regulation and warnings that virtual currency prices are being manipulated by illegal trading practices. (See also:  Hackers Have Stolen $1.1B in Crypto This Year ) Source: Coindesk Bitcoin Likely to F

Stocks making the biggest moves in the premarket: STZ, WFC, BAC, JPM, C, NKE & more I Pre-Market Moves I CNBC.

cnbc.com Stocks making the biggest moves in the premarket: STZ, WFC, BAC, JPM, C, NKE & more Peter Schacknow Check out the companies making headlines before the bell: Constellation Brands – The spirits producer reported adjusted quarterly profit of $2.20 per share, missing the consensus estimate of $2.43, although revenue did beat Street forecasts. Constellation said its operating margins dropped 230 basis points due to higher transportation costs, an unfavorable foreign currency situation, and planned marking investments. Wells Fargo , Bank of America , JPMorgan Chase , Citigroup – These and

'What's wrong with our society?' Annapolis mayor voices concern at hostility to media | US news I The Guardian

theguardian.com 'What's wrong with our society?' Annapolis mayor voices concern at hostility to media | US news Gwilym Mumford Gavin Buckley, the mayor of Annapolis, was distraught in the wake of the mass shooting at his city’s local newspaper, telling the Guardian: “What’s wrong with our society that we’re this tightly wound that you can be this upset at a newspaper that reports stories on cats being stuck up a tree?” Although Buckley made clear that the Annapolis Capital-Gazette, the newspaper where five people were shot dead on Thursday , was a good paper; he was just still in shock that it was a target. After all, when he was told that there had been a shooting at the Capital, his initial response was to think of Maryland’s state capital in the heart of downtown Annapolis. To him, the Capital Gazette “reports on our kids’ soccer games and good, local, interesting stuff that we want to hear about” an

9 Growth Stocks With Lots of Firepower I Investopedia

investopedia.com 9 Growth Stocks With Lots of Firepower Mark Kolakowski The bull market is now in its 10th year, stock valuations are near historic highs, economic growth may be peaking, interest rates are on the rise, and growing trade conflicts present their own set of uncertainties. To find promising equity investments in this environment, Tom Plumb, manager of the Plumb Balanced Fund (PLBBX), has a simple prescription. As he told Barron's : "If stocks are better for returns than bonds, then you should look for stocks with the best total return—growth companies." In particular, Plumb prefers companies that are riding "major secular trends," as Barron's puts it. Among the companies that his fund owns, and which he discussed with Barron's, are: Source: Yahoo Finance for market values as of June 28. Fund Performance The Plumb Balanced Fund h

Australians Can’t Get Enough of the Barefoot Investor I Business I NYT

nytimes.com Australians Can’t Get Enough of the Barefoot Investor   Mr. Pape’s folksy manner delivers down-home truths: Don’t get swept up in trendy investments; pay off your debts; analyze how banks are managing your money. As a result, it’s uncontroversial with experts. Chris Richardson, an economist at Deloitte in Canberra, said that Mr. Pape’s major tenets, like his argument that Australians have generally overvalued property and undervalued stock trading “are more real then people realize.” Another cornerstone of the Barefoot Investor’s plan that resonates with economists is the importance of renegotiating bank fees, which, according to the Reserve Bank of Australia, run to 480 Australian dollars, around $355, a household per year. “Over ten years,” Mr. Pape writes, that’s “enough to take you to New York City and stay at a five-star hotel.” Bank fees are lower in the United States; in Australia, just four banks represent about 80 p