Posts belonging to Category Morgan Keegan
Posted by Page PerryonApril 25, 2012
The Financial Industry Regulatory Authority (FINRA) announced plans to file enforcement actions against certain brokerages in connection with unsuitable sales of leveraged and inverse leveraged exchange-traded funds (ETFs), as well as for failure to train their brokers who sell them (see Reuters article by Suzanne Barlyn and Jessica Toonkel entitled “FINRA to bring cases over […]
Categories: Alternative Investments, Brokerage Firms, Common Securities Broker Abuses, Credit Suisse, Derivatives, Early Retirement Scams, Elder Abuses, Exchange Traded Notes (ETNs), Exchange-Traded Funds (ETFs), Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Morgan Keegan, RBC Dain Raucher, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Unsuitable Recommendations
Posted by Page PerryonApril 24, 2012
The U.S. Department of Labor (DOL) has ordered Morgan Keegan to pay $633,715 to 10 pension plans that were victimized by a scheme in which Morgan Keegan received kickback payments for recommending funds of hedge funds to plan clients, according to an (See InvestmentNews article entitled “Morgan Keegan ripped by DOL over kickbacks”). Morgan Keegan’s […]
Categories: Alternative Investments, Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, ERISA Fiduciaries and Claims, Fairness/Just & Equitable Conduct, Hedge Funds, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Morgan Keegan, Raymond James, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJuly 2, 2011
Regions Financial Corp. is trying to find a buyer for Morgan Keegan, but the clock is ticking, and the longer it takes, the greater the likelihood that its most valuable asset, the advisor reps, will leave, thereby reducing the value, and making a sale unlikely to happen at all, according to Andrew Osterand’s InvestmentNews article […]
Categories: Brokerage Firms, CDOs, Derivatives, Employment Issues, Market Developments, Morgan Keegan, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Mutual Funds, Raymond James, RBC Dain Raucher, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Wachovia, Wells Fargo
Posted by Page PerryonJuly 1, 2011
SEC Enforcement Chief Robert Khuzami recently stated that the SEC’s decision not to charge top executives of Wall Street banks with wrongdoing in cases involving structured products was appropriate, according to Suzanne Barlyn’s Wall Street Journal article entitled “SEC: Structured-Product Cases Haven’t Reached Top Bank Officers.” According to Mr. Khuzami, top executives were not involved […]
Categories: Asset Backed Securities, Bank of America, Bank of New York Mellon, Brokerage Firms, CDOs, Citigroup/Smith Barney, Credit Default Swaps, Derivatives, Deutsche Bank, Goldman Sachs, Investigations, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Morgan Stanley, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS, Wachovia
Posted by Page PerryonJuly 1, 2011
A U.S. district court judge granted Morgan Keegan’s motion for summary judgment, dismissing the Securities and Exchange Commission allegations that the brokerage firm misled investors in connection with its sales of $2.2 billion in auction-rate securities, according to an InvestmentNews article entitled “SEC claim that Morgan Keegan misled ARS investors is nixed,” and David Benoit’s […]
Categories: Auction Rate Securities, Brokerage Firms, Common Securities Broker Abuses, Investment Advisers, Morgan Keegan, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 29, 2011
In her recent New York Times article entitled “Findings That May Get Lost,” Gretchen Morgenson writes about a “disturbing paradox” presented by the following scenario: Investors who lost over $1 billion in toxic RMK bond funds may not benefit from the recent settlement with regulators that Morgan Keegan paid $200 million to obtain, despite findings […]
Categories: Asset Backed Securities, Bonds, Brokerage Firms, CDOs, Common Securities Broker Abuses, Derivatives, Investigations, Investment Advisers, Investor Alerts, Morgan Keegan, Mortgage Securities & Collateralized Debt Obligation Problems, Mutual Funds, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 23, 2011
Morgan Keegan & Company and Morgan Asset Management have agreed to pay $200 million to settle fraud charges related to proprietary bond mutual funds that were both mispriced and loaded with risky subprime mortgage-backed securities. Approximately 39,000 investors lost $1.5 billion in the RMK bond funds (later renamed Helios) that were the focus of the […]
Categories: Asset Backed Securities, Bonds, Brokerage Firms, CDOs, Common Securities Broker Abuses, Derivatives, Investigations, Investor Alerts, Investor Rights, Morgan Keegan, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Mutual Funds, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 23, 2011
Morgan Keegan & Company and Morgan Asset Management have agreed to pay $200 million to settle fraud charges related to bond funds that invested in subprime mortgage-backed securities. The charges were filed by the Securities and Exchange Commission, state regulators from Alabama, Kentucky, Mississippi, Tennessee and South Carolina, and the Financial Industry Regulatory Authority (FINRA). […]
Categories: Asset Backed Securities, Bonds, Brokerage Firms, CDOs, Common Securities Broker Abuses, Derivatives, Investigations, Investor Alerts, Investor Rights, Morgan Keegan, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Mutual Funds, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 21, 2011
Best-selling “Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led To Economic Armegeddon,” by Gretchen Morgenson and Joshua Rosner, “calls out greedy guys behind mortgage mess,” according to a USA Today book review by Kathryn Caravan. See also “Home Truths,” by James Freeman of the Wall Street Journal. Both reviews provide examples of how the […]
Categories: Asset Backed Securities, Auction Rate Securities, Bank of America, Bear Stearns, Bonds, Brokerage Firms, CDOs, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Credit Default Swaps, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Hedge Funds, Investigations, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonJune 3, 2011
Simply stated, senior investors (in fact, all investors) should be very leery of high-risk structured products. Author John Wasik, in conjunction with Demos and The Nation Institute, has published a white paper entitled “How Safe Are Your Savings? How Complex Derivative Products Imperil Seniors’ Retirement Security.” The paper’s focus is on structured products and how […]
Categories: Asset Backed Securities, Bank of America, Barclays, Brokerage Firms, CDOs, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Early Retirement Scams, Elder Abuses, Goldman Sachs, Investigations, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Morgan Stanley, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Options, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes, UBS