Posts belonging to Category Morgan Keegan
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 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 PerryonMarch 17, 2010
In two recently decided arbitrations against Morgan Keegan related to its collapsed bond funds, the investors were awarded over $3.6 million, according to an article by Christopher Sheffield in the Memphis Business Journal, “Morgan Keegan pays out $3.6 million in February.”
Categories: Bonds, Brokerage Firms, Common Securities Broker Abuses, Derivatives, Morgan Keegan, Mortgage Securities & Collateralized Debt Obligation Problems, Mutual Funds, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMarch 2, 2010
Morgan Keegan has been aggressively fighting an array of regulatory actions and investor claims. As a result of these “hardball” defense tactics, Morgan Keegan’s legal costs have doubled and are consuming a significant chunk of the firm’s revenue as a result of investigations by securities regulators and legal actions by aggrieved investors, according to an […]
Categories: Auction Rate Securities, Bonds, Brokerage Firms, Common Securities Broker Abuses, Derivatives, Morgan Keegan, Mortgage Securities & Collateralized Debt Obligation Problems, Mutual Funds, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMarch 1, 2010
A Memphis, Tennessee Chancery court has vacated an award in favor of an investor that was issued by a FINRA arbitration panel in a Morgan Keegan bond fund case. Vacatur of an arbitration award is highly unusual, and should not occur without proof of some corruption in the process, such as evident partiality of an […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Morgan Keegan, Mutual Funds, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJanuary 21, 2010
An Illinois-based pension fund has brought a shareholder’s derivative action seeking to recover billions of dollars in executive compensation paid by Goldman Sachs. This could be the first of many such suits, reported James Armstrong of Law360, “Goldman Pay Suit Could Signal New Wave of Litigation,” Jan. 8, 2010.
Categories: Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Employment Issues, Goldman Sachs, J. P. Morgan Chase, Morgan Keegan, Securities/Commodities Litigation
Posted by Page PerryonJanuary 4, 2010
The Wall Street Journal reports that “hundreds of businesses are fighting to recover billions of dollars tied up in frozen auction-rates securities, a year after Wall Street firms agreed to $60 billion in settlements over the collapsed market for the investments.” See “Firms Fight Banks Over Billions in Frozen Notes,” WSJ 1/2/10. While regulators stepped […]
Categories: Ameriprise, Auction Rate Securities, Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonSeptember 27, 2009
There have been various developments over the past several weeks which investors may consider relevant in allocating their resources or evaluating alternatives that are available to them. Some of the more significant developments include, but are not limited to, the following: The Dow Jones Industrial Average opened the week at 9820 and, on Monday, fell […]
Categories: Brokerage Firms, Citigroup/Smith Barney, Employment Issues, Market Developments, Morgan Keegan, Regulatory Developments, Smart Investing Tools, UBS
Posted by Page PerryonSeptember 23, 2009
Regions Bank has agreed to pay $1 million to settle investment fraud charges brought by the Securities and Exchange Commission, according to a September 21 article by AP Legal Affairs writer Curt Anderson. On September 21, the SEC issued a Cease-and-Desist Order finding that Regions, the primary banking subsidiary of Regions Financial Corporation, was a […]
Categories: Auction Rate Securities, Brokerage Firms, Common Securities Broker Abuses, Investment Advisers, Morgan Keegan, Regulatory Developments
Posted by Page PerryonAugust 10, 2009
In her August 4th Wall Street Journal column called Compliance Watch, Suzanne Barlyn reports that Morgan Keegan is engaging in a rarely used hardball tactics in three arbitrations arising out of sales of its proprietary bond mutual funds in which arbitration panels have awards. So far, Morgan Keegan has moved to vacate awards issued in […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Derivatives, Morgan Keegan, Mortgage Securities & Collateralized Debt Obligation Problems, Securities/Commodities Arbitration