SEC enforcement

The SEC is running on a skeleton crew that effectively halts routine oversight.

Investigators say the onetime FiNet branch manager preyed on “particularly vulnerable” clients, including several with dementia.

The IBD network’s parent repurchased the majority of Dr. Phillip Frost’s shares just before the SEC filed proposed settlements of its pump-and-dump case.

Wall Street’s main regulator has made ADR sales a focus of its enforcement efforts.

Former Securities America rep Hector May carried out a 20-year scam through his outside RIA, according to prosecutors

Investigators say the barred rep diverted more than $1.8 million of her clients’ money for personal use, including on vacations and houses.

Edward Lee Moody used the stolen proceeds to buy a home and travel to Las Vegas among other destinations.

Dick Lampen says the SEC charges against Dr. Phillip Frost, the firm’s primary shareholder, won’t affect its “significant” other resources.

Dr. Phillip Frost, the principal shareholder of the IBD network’s parent firm, has stepped down, giving way to CEO Richard Lampen.

The IBD’s advisors did not understand investments they sold to clients, the SEC says.