Posts belonging to Category SunTrust
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 PerryonOctober 25, 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 9996 and, on Monday, the […]
Categories: Auction Rate Securities, Brokerage Firms, Deutsche Bank, Employment Issues, Goldman Sachs, J. P. Morgan Chase, Market Developments, Morgan Stanley, Municipal Bonds, Smart Investing Tools, SunTrust, Wells Fargo
Posted by Page PerryonOctober 21, 2009
A federal judge in Atlanta recently dismissed a class action lawsuit brought against SunTrust for fraud in the sale of auction rate securities. The case was not dismissed on the merits of investors’ claims against SunTrust, but based on technical legal requirements about what it takes to plead a claim. Those requirements are strict in […]
Categories: Auction Rate Securities, Bonds, Brokerage Firms, Securities Class Actions, Securities/Commodities Arbitration, SunTrust
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
Posted by Page PerryonMay 19, 2009
Seven months after the Atlanta Journal and Constitution (AJC) reported that SunTrust Bank was negotiating with regulators to buy back $500 million in auction rate securities from SunTrust customers, the bank has decided not to pay back all of its customers. According to a statement released by the Financial Industry Regulatory Authority (FINRA) in May […]
Categories: Auction Rate Securities, Bonds, Brokerage Firms, Common Securities Broker Abuses, Regulatory Developments, Securities/Commodities Arbitration, Securities/Commodities Litigation, SunTrust
Posted by Page PerryonMay 18, 2009
On May 13, 2009, the U.S. Securities and Exchange Commission (“SEC”) approved a rule change that requires brokers to disclose alleged sales practice violations made by a customer against a securities broker in the body of a civil lawsuit or arbitration claim, even if that broker is not named as a defendant or respondent. The […]
Categories: Ameriprise, Bank of America, Bear Stearns, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Early Retirement Scams, Elder Abuses, ERISA Fiduciaries and Claims, Fidelity, Goldman Sachs, Investment Advisers, J. P. Morgan Chase, Legg Mason, Lehman Brothers, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Smart Investing Tools, SunTrust, UBS, Variable Annuities and Equity-Indexed Annuities, Wachovia, Wells Fargo
Posted by Page PerryonMay 2, 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 8076 and, on Monday, plunged […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Employment Issues, ERISA Fiduciaries and Claims, Market Developments, Regulatory Developments, Smart Investing Tools, SunTrust, Wells Fargo
Posted by Page PerryonApril 20, 2009
Washington is doing far too little to strengthen the government’s ability to investigate and prosecute the type of corporate and mortgage fraud that led to the economic collapse, The New York Times opined in an Editorial dated April 18, 2009. The Times points out that focus has shifted away from financial fraud to anti-terrorist activities, […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Goldman Sachs, J. P. Morgan Chase, Merrill Lynch, Morgan Stanley, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonFebruary 20, 2009
Investors who still hold auction-rate securities are facing many increasing problems, according to an article in today’s Bloomberg.com by Michael McDonald. Last February, the $330 billion market for auction-rate securities essentially froze when major Wall Street firms discontinued supporting auction-rate securities. A year later, investors are still stuck with as much as $176 billion of […]
Categories: Auction Rate Securities, Bank of America, Bonds, Brokerage Firms, Citigroup/Smith Barney, Credit Suisse, Deutsche Bank, Goldman Sachs, J. P. Morgan Chase, Market Developments, Merrill Lynch, Morgan Keegan, Morgan Stanley, Municipal Bonds, Oppenheimer, Raymond James, SunTrust, UBS, Wachovia, Wells Fargo
Posted by Page PerryonJanuary 21, 2009
Time may be running out on certain auction-rate securities claims. Some investors may need to act promptly if they wish to protect their rights. The laws of each state establish time limits (statutes of limitations) within which legal claims must be asserted. Those time limits vary from state to state. Claims not brought within the […]
Categories: Auction Rate Securities, Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Goldman Sachs, J. P. Morgan Chase, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, Securities/Commodities Arbitration, SunTrust, UBS, Wachovia, Wells Fargo
