{"id":1740,"date":"2015-11-07T11:00:42","date_gmt":"2015-11-07T11:00:42","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/11\/securities_headlines_finra_see"},"modified":"2022-07-22T08:41:54","modified_gmt":"2022-07-22T13:41:54","slug":"securities-headlines-finra-see","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-headlines-finra-see\/","title":{"rendered":"Securities Headlines: FINRA Seeking to Fine MetLife Over Variable Annuity Sales, SEC Accuses Scottish Trader of Sending Fake Tweets, Market Rigging, and Judge Orders Man to Stop Crowdfunding Fraud"},"content":{"rendered":"

\t\t\t\tFINRA Plans to Fine MetLife for Purported Variable Annuities Violations<\/strong>
\nThe Financial Industry Regulatory Authority is looking to impose a significant fine against MetLife’s broker-dealer unit related to possible violations involving variable annuities. The company is cooperating with the regulator’s probe, which is looking at alleged suitability, misrepresentation, and supervision issues related to the selling and replacements of variable annuities.<\/p>\n

According to MetLife’s quarterly regulatory filing, FINRA told the insurance giant that it plans to recommend disciplinary action. InvestmentNews<\/em> reports that in an e-mailed statement, MetLife spokesperson John Calagna said that the company did not agree with the conclusions reached by the regulator and plans to defend itself. <\/p>\n

SEC Charges Scottish Trader with Over Market Rigging Involving False Tweets<\/strong>
\nThe Securities and Exchange Commission has filed securities fraud <\/a>charges against James Alan Craig of Scotland for allegedly filing false tweets that caused sharp declines in the stock prices of two companies, even causing one of them to experience a trading halt. The regulator said that Craig sent out false statements via Twitter on accounts that he deceptively set up to make them look like legitimate Twitter accounts of known securities research firms.<\/p>\n

According to the SEC’s complaint, Craig’s first bogus tweets caused the share price of one company to drop 28% until Nasdaq temporarily stopped trading. The next day, he sent out false tweets about another company that led to a 16% drop in the share prices of that company. Both days he purchased and sold shares of the companies he targeted to try to profit from the sharp price changes. He was mostly successful in his efforts.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

FINRA Plans to Fine MetLife for Purported Variable Annuities Violations The Financial Industry Regulatory Authority is looking to impose a significant fine against MetLife’s broker-dealer unit related to possible violations involving variable annuities. The company is cooperating with the regulator’s probe, which is looking at alleged suitability, misrepresentation, and supervision issues related to the selling […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3739,3853,3760,3741],"tags":[],"class_list":["post-1740","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-finra","category-metlife-securities","category-sec-enforcement","category-securities-fraud"],"yoast_head":"\nSecurities Headlines: FINRA Seeking to Fine MetLife Over Variable Annuity Sales, SEC Accuses Scottish Trader of Sending Fake Tweets, Market Rigging, and Judge Orders Man to Stop Crowdfunding Fraud — Investor Lawyers Blog — November 7, 2015<\/title>\n<meta name=\"description\" content=\"FINRA Plans to Fine MetLife for Purported 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