North American Securities Administrators Association Archives

Maryland joins in $10 million settlement with Robinhood for failing investors

Posted on January 31, 2024 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Anthony G. Brown’s Securities Division has announced that it has joined a multistate settlement with Robinhood Financial LLC, which will pay up to $10.2 million in penalties for operational and technical failures that harmed Main Street investors. The settlement stems from an investigation regarding Robinhood’s failures concerning the retail market. The investigation was spearheaded by state […]

Attorney General Brown joins $22.5 million settlement with crypto asset platform Nexo

Posted on September 13, 2023 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Anthony G. Brown’s Securities Division announced that it has joined a $22.5 million multistate settlement with Nexo Capital, Inc. In September 2022, Maryland filed an action against Nexo in connection with its Earn Interest Product (EIP) accounts. The Securities Division had alleged that the EIP accounts enabled customers to deposit crypto assets with Nexo. In exchange, […]

Attorney General Frosh leads effort to charge precious metals dealers in $185 million scheme targeting retirement-age investors

Posted on September 29, 2020 by Chris Montcalmo

BALTIMORE, MD—Maryland Attorney General Brian E. Frosh has announced that his Securities Division has collaborated with the Commodities Futures Trading Commission (CFTC) and 29 other states in filing a complaint in the U.S. District Court for the Northern District of Texas alleging related companies Metals.com and Barrick Capital, Inc. solicited $185 million from retirement-age investors, including at least $3 million […]

Maryland Attorney General announces coordinated cryptocurrency crackdown

Posted on August 14, 2019 by Chris Montcalmo

BALTIMORE, MD – Maryland Attorney General Brian E. Frosh announced on Wednesday that the Maryland Securities Division is participating in the nationwide Operation Cryptosweep, an initiative of the North American Securities Administrators Association (NASAA). Since the beginning of the year, 35 enforcement actions against Initial Coin Offerings (ICOs) and cryptocurrency-related investment products have been completed by state and provincial securities […]