Posts belonging to Category Raymond James
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 PerryonNovember 6, 2010
$130 billion of retail and institutional investor money is still being held in auction rate securities over two years after the $330 billion auction rate market failed and froze, according to Daisy Maxey in her Wall Street Journal article, “Still Frozen After All These Years.” But just as the Paul Simon song modulates from gloom […]
Categories: Auction Rate Securities, Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, J. P. Morgan Chase, Merrill Lynch, Morgan Stanley, Oppenheimer, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonAugust 28, 2010
A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Raymond James & Associates, Inc. and one of its registered representatives to pay $925,000 to a Texas couple who purchased $1.4 million of municipal auction rate securities issued by Jefferson County, Alabama, according to August 26th articles in InvestmentNews by Bruce Kelly (“Raymond James pays […]
Categories: Auction Rate Securities, Brokerage Firms, Charles Schwab, Common Securities Broker Abuses, Oppenheimer, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 11, 2010
Merrill Lynch and other Wall Street firms sold the riskiest tranches of collateralized debt obligations (“CDOs”), not just to institutions, but to individual investors, as safe investments, according to a recent Wall Street Journal article by Dan Fitzgerald titled “Didn’t See Risk, and Got Stung.” Now that the CDOs have imploded, and investors are seeking […]
Categories: Bank of America, Bear Stearns, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Keegan, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Oppenheimer, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, State Street, Structured Notes, UBS, Wachovia
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 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 PerryonDecember 2, 2009
Huge recruiting bonuses for brokers may bode ill for customers. Large brokerage firms like Merrill Lynch and Morgan Stanley Smith Barney are offering some of the highest recruitment bonuses ever offered ? up to 330% of their previous year’s fees and commissions ? to entice reps who rank among the top fifth of their firms’ […]
Categories: Brokerage Firms, Citigroup/Smith Barney, Employment Issues, Investment Advisers, Merrill Lynch, Raymond James, UBS
Posted by Page PerryonAugust 11, 2009
Raymond James “long-suffering clients remain frozen in auction-rate securities hell,” says Gretchen Morgenson in her August 2 article in the New York Times called “Investors Without a Lifeline.” Raymond James misrepresented auction rate securities to retail investors as safe and liquid, just like many larger Wall Street firms that have settled with the regulators and […]
Categories: Auction Rate Securities, Bonds, Brokerage Firms, Common Securities Broker Abuses, Investment Advisers, Raymond James, Regulatory Developments, Securities/Commodities Arbitration, Smart Investing Tools
Posted by Page PerryonJuly 29, 2009
The Securities Industry and Financial Markets Association, an important Wall Street lobbying group, has decided to support the Obama administration’s proposal to hold brokers to the same standard as a fiduciary when they provide investment advice, according to a recent report in The Wall Street Journal. While investors who sue their brokers have long argued, […]
Categories: Ameriprise, Bank of America, Bear Stearns, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Credit Suisse, Deutsche Bank, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Legg Mason, Lehman Brothers, LPL Financial, Market Developments, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, SunTrust, UBS, Wachovia, Wells Fargo