Posts belonging to Category Ameriprise
Posted by Page PerryonMarch 21, 2011
A federal judge has refused to approve a proposed class action settlement between Securities America and a class of people who purchased hundreds of millions of fraudulent securities issued by Medical Capital and Provident Royalties, that were sold by Securities America. See Dan Levine’s and Joseph Giannone’s article in Reuters captioned, “Judge rejects settlement with […]
Categories: Ameriprise, Brokerage Firms, Common Securities Broker Abuses, Employment Issues, Investment Advisers, Investor Rights, Private Investments/Reg D, Promissory Notes, Securities, Securities America, Securities Class Actions, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMarch 15, 2011
Expecting licensed professionals who provide investment advice to act in their clients’ best interests “should be a basic tenet of the business,” but brokerage firms and their brokers don’t want that fiduciary yoke, says Karen Blumenthal in her InvestmentNews article, “When Your Adviser Can’t Be Trusted.” Moreover, they don’t want the public to know that […]
Categories: A General Overview, Ameriprise, Bank of America, Bank of New York Mellon, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Fairness/Just & Equitable Conduct, Fidelity, Goldman Sachs, Investment Advisers, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Legg Mason, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, SunTrust, TD Ameritrade, UBS, Wachovia, Wells Fargo
Posted by Page PerryonMarch 5, 2011
Securities America, Inc., the Ameriprise Financial affiliate that sold hundreds of millions of dollars of fraudulent private placements issued by Medical Capital Corp. and Provident Royalties LLC, is trying to force a class action settlement in connection with investors who purchased Medical Capital Notes though Securities America. The proposed settlement would protect millions of dollars […]
Categories: Ameriprise, Brokerage Firms, Common Securities Broker Abuses, Investment Advisers, Promissory Notes, Securities, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonFebruary 14, 2011
The new whistleblower program that pays big cash rewards for tips about investment fraud has already resulted in a large number of high quality tips to the SEC, according to a news story this week on CNBC. According to the report, the SEC expects to receive 30,000 tips this year?just one year after the program […]
Categories: Ameriprise, Bank of America, Bank of New York Mellon, Barclays, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Credit Suisse, Deutsche Bank, Employment Issues, Fidelity, Financial Industry Whistleblowers, Goldman Sachs, J. P. Morgan Chase, Legg Mason, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, State Street, SunTrust, TD Ameritrade, UBS, Wells Fargo
Posted by Page PerryonJanuary 14, 2011
According to a recent article in InvestmentNews, Securities America faces 150 or so arbitration claims seeking recovery of $90 million of investor losses associated with its sale of Medical Capital Notes. The claims are shaping up to be a significant problem for Securities America and its parent company Ameriprise Financial, Inc. On New Year’s Eve, […]
Categories: Ameriprise, Brokerage Firms, Common Securities Broker Abuses, Investment Advisers, Promissory Notes, Securities, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonNovember 22, 2010
Wall Street may face a wave of lawsuits under an expanded version of the Martin Act, New York’s securities anti-fraud statute, if the newly elected Governor of New York has his way, according to a Wall Street Journal Deal Journal blog entitled, “And the Next Mortal Threat to Wall Street Is’”.
Categories: Ameriprise, Bank of America, Barclays, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Legg Mason, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities, Securities America, Securities Class Actions, Securities/Commodities Arbitration, Securities/Commodities Litigation, State Street, SunTrust, TD Ameritrade, UBS, Wachovia, Wells Fargo
Posted by Page PerryonApril 2, 2010
Brokerage firms’ advertising portrays brokers as trusted members of the family, writes Tara Siegel Bernard in her New York Times article, “Trusted Adviser or Stock Pusher? Finance Bill May Not Settle It.” Anyone who has tried to hold a broker to a fiduciary standard of conduct, however, hears a very different response: “We are mere […]
Categories: Ameriprise, Bank of America, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Smart Investing Tools, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonMarch 29, 2010
Private placement offerings (also known as Reg D offerings), such as Medical Capital Holdings Inc. and Provident Royalties LLC, have devastated unsuspecting investors. Such offerings, as well as the unscrupulous broker-dealers who pushed them, have wound up in the crosshairs of state securities regulators. See “Cracking Down on ‘Private Placement’ Investments,” March 27, 2010, Wall […]
Categories: Ameriprise, Bonds, Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Investment Advisers, Private Investments/Reg D, Regulatory Developments, Securities, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMarch 25, 2010
According to a recent Bloomberg National Poll, more than 50% of Americans despise Wall Street and favor punishment of the bankers who caused the worst financial crisis since the Great Depression. The majority of poll participants — 56 percent — say big financial companies are more interested in enriching themselves at the expense of ordinary […]
Categories: Ameriprise, Bank of America, Bear Stearns, Brokerage Firms, Citigroup/Smith Barney, Credit Suisse, Deutsche Bank, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Legg Mason, Lehman Brothers, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, State Street, SunTrust, TD Ameritrade, UBS, Wachovia, Wells Fargo
Posted by Page PerryonFebruary 1, 2010
Public school teachers have filed a class action lawsuit against The Variable Annuity Life Insurance Co., known as VALIC, according to a recent article in InvestmentNews by Darla Mercado. The teachers are suing on behalf of all individuals who bought a VALIC deferred annuity after Jan. 1, 1974, in order to fund a qualified retirement […]
Categories: Ameriprise, Brokerage Firms, Common Securities Broker Abuses, Insurance Products, Investment Advisers, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Variable Annuities and Equity-Indexed Annuities
