Posts belonging to Category Merrill Lynch
Posted by Page PerryonFebruary 7, 2012
Questions continue to arise regarding the too-cozy relationship between the SEC and Wall Street. Recent reports claim that the SEC, when settling with big Wall Street firms, has a practice of granting waivers that preserve special privileges enjoyed by those firms, and protect them from serious consequences that would otherwise result from their wrongdoing. For […]
Categories: Ameriprise, Bank of America, Bear Stearns, Brokerage Firms, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Goldman Sachs, J. P. Morgan Chase, Merrill Lynch, Morgan Stanley, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS, Wachovia, Wells Fargo
Posted by Page PerryonJanuary 24, 2012
The big four Wall Street wirehouses have lost market share since the financial crisis in part because of their role in the crisis and “customer distrust,” according to Bing Waldert, a director of Cerulli Associates Inc. (See “Wirehouse market share has shriveled since crisis,” InvestmentNews). Merrill Lynch Wealth Management, Morgan Stanley Smith Barney, UBS AG […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Investment Advisers, Investor Alerts, Market Developments, Merrill Lynch, Morgan Stanley, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, UBS, Wachovia, Wells Fargo
Posted by Page PerryonJanuary 23, 2012
The amount of dollars at stake in FINRA securities arbitrations has grown in recent years. Of the 7,000 claims currently pending, approximately 200 involve claims of $10 million or more. “The claims coming in now are substantially larger than what we had a few years ago,” Linda Fienberg, president of FINRA Dispute Resolution, was quoted […]
Categories: Auction Rate Securities, Bank of America, Brokerage Firms, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Fairness/Just & Equitable Conduct, Hedge Funds, Investment Advisers, Investment Malpractice, Investor Alerts, Merrill Lynch, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS, Unsuitable Recommendations
Posted by Page PerryonJanuary 18, 2012
Unsophisticated state and local government officials have been sold billions of dollars of flawed financial products by Wall Street banks, leaving taxpayers on the hook for even more. The banks advised the governments to issue auction rate bonds to lower their financing costs and purchase interest rate swaps to protect the governments if the market […]
Categories: Auction Rate Securities, Bank of America, Brokerage Firms, Common Securities Broker Abuses, Derivatives, Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, Merrill Lynch, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Unsuitable Recommendations
Posted by Page PerryonJanuary 10, 2012
Sixty-five years ago, the Justice Department filed an antitrust suit against 17 investment banks seeking to break them up for creating “an integrated, overall conspiracy and combination ‘ to eliminate competition and monopolize” the investment banking business. It failed. Today, the investment banking business is much larger and more profitable, and much more concentrated than […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Deutsche Bank, Goldman Sachs, Investigations, Investor Alerts, J. P. Morgan Chase, Merrill Lynch, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonNovember 8, 2011
Banking analyst Mike Mayo is an outlier because Wall Street’s intimidation apparently does not work on him. Mayo has written a book describing, among other things, what it was like for him to break the taboo against issuing a “Sell” recommendation on Wall Street. The title of his book, “Exile on Wall Street,” is a […]
Categories: Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Merrill Lynch, Misrepresentation/Omission, Morgan Stanley, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonOctober 12, 2011
The securities industry in New York City has lost 22,000 jobs since January 2008, and will lose another 10,000 by the end of next year, according to a report by New York City’s Comptroller Thomas P. DiNapoli. If his predictions are correct, Wall Street will have lost 17% of its jobs. Wall Street has shed […]
Categories: Bank of America, Barclays, Brokerage Firms, Credit Suisse, Economy, Employment Issues, Goldman Sachs, Investment Advisers, Jobs, Market Developments, Merrill Lynch, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonOctober 6, 2011
Merrill Lynch agreed to pay $1 million to settle charges by the Financial Industry Regulatory Authority (FINRA) that it failed to supervise Bruce Hammonds, a San Antonio-based representative, who was ‘selling away’ from the firm by operating a $1 million dollar Ponzi scheme for more than 10 months. The ponzi scheme, named B&J Partnership, used […]
Categories: Bank of America, Brokerage Firms, Common Securities Broker Abuses, Investment Advisers, Merrill Lynch, Ponzi Schemes, Regulatory Developments, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonSeptember 16, 2011
Many investors, both individuals and corporations, were misled by their brokers and harmed during the credit crisis. For various reasons, however, many such investors have not yet taken action to recover their losses. Some have delayed taking action in order to see whether the misconduct warranted legal action while others just put it off until […]
Categories: Alternative Investments, Asset Backed Securities, Auction Rate Securities, Bank of America, Bank of New York Mellon, Brokerage Firms, CDOs, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Deutsche Bank, Early Retirement Scams, Elder Abuses, Goldman Sachs, Hedge Funds, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Merrill Lynch, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, SunTrust, UBS
Posted by Page PerryonSeptember 9, 2011
Sales of structured notes issued by Bank of America have sunk to the lowest level since January 2008 as a result of investors’ concerns about the creditworthiness of the bank, according to Matt Robinson’s Bloomberg article entitled “Bank of America Structured Notes Sales Drop as Buyers ‘Shy Away.’” Similarly, credit default swaps on BofA have […]
Categories: Alternative Investments, Bank of America, Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Investigations, Investment Advisers, Investor Alerts, Merrill Lynch, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes
