Before investing, knowing the identity and background of the person offering the security can be just as important as knowing the financial statistics of the company.  The SEC recently charged a convicted felon with “raising over $30 million from hundreds of investors in a fraudulent initial coin offering (ICO).”  The defendant “darkened his hair, grew…

Share Class Selection Disclosure (SCSD) is the term used to describe the requirement that investment advisers have to inform their clients when they invest their funds in mutual fund share classes that paid the adviser a fee pursuant to Rule 12b-1 of the Investment Company Act of 1940 when a lower-cost share class for the…

Investing during the government shutdown. On Thursday, December 27, 2018, the Securities and Exchange Commission began operation within its plan during a federal government shutdown.  They say they have “staff available to respond to emergency situations involving market integrity and investor protection.”  That means that out of the 4,426 active staff employees of the SEC,…