Investor Alert – Illiquid Alts

Investor Alert – Illiquid Alts

Illiquid alternative investments have been a cause of particular concern for securities regulators and watchdogs in recent years. Among the products that have garnered the most notoriety are non-traded Real Estate Investment Trusts (“REITs”), non-traded Business Development Corporations (“BDCs”), and oil and gas private placements. Non-Traded REITs A REIT is an investment…

Investor Alert – Dudley Stephens

Investor Alert – Dudley Stephens

The Financial Industry Regulatory Authority (“FINRA”) recently barred Dudley Stephens of New York, New York from working in the securities brokerage industry after Stephens refused to cooperate with the self-regulator’s investigation into alleged sales practice violations.  FINRA has not released any specific information about its investigation; however, FINRA’s Brokercheck website indicates that Stephens is involved in…

Investor Alert – Gary Lyle Pevey and Mutual Securities, Inc.

Investor Alert – Gary Lyle Pevey and Mutual Securities, Inc.

The Financial Industry Regulatory Authority (“FINRA”), which regulates stock brokers and brokerage firms, has suspended and fined stock broker Gary Pevey of Sacramento, California for selling investments in the Woodbridge Group of Companies (“Woodbridge”) without the requisite approval of the brokerage firm that he was registered with, namely Mutual Securities, Inc. According…