Posts belonging to Category Wells Fargo
Posted by Page PerryonMarch 15, 2011
Expecting licensed professionals who provide investment advice to act in their clients’ best interests “should be a basic tenet of the business,” but brokerage firms and their brokers don’t want that fiduciary yoke, says Karen Blumenthal in her InvestmentNews article, “When Your Adviser Can’t Be Trusted.” Moreover, they don’t want the public to know that […]
Categories: A General Overview, Ameriprise, Bank of America, Bank of New York Mellon, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Fairness/Just & Equitable Conduct, Fidelity, Goldman Sachs, Investment Advisers, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Legg Mason, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, SunTrust, TD Ameritrade, UBS, Wachovia, Wells Fargo
Posted by Page PerryonMarch 3, 2011
The asset-backed securities market ? “the Wall Street credit machine that helped set off the financial crisis” ? has come back to life, according to a New York Times article called “Wall Street Securitization Machine Back Into Gear?” Securities backed by commercial real estate, which apparently did not reach expected lows, are leading the pack. […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, CDOs, Commercial Mortgage Backed Securities, Credit Default Swaps, Derivatives, Investment Advisers, Investor Alerts, J. P. Morgan Chase, Morgan Stanley, Mortgage Backed Securities, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Wells Fargo
Posted by Page PerryonFebruary 16, 2011
If you are an investor who lost money in the financial crisis, your stockbroker or investment advisor may owe you money. There are a variety of legal claims that can be brought for investment malpractice, ranging from fraud and misrepresentation to making unsuitable investment recommendations. But there are also legal deadlines for bringing such claims, […]
Categories: Asset Backed Securities, Auction Rate Securities, Bank of America, Bank of New York Mellon, Barclays, Brokerage Firms, CDOs, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Default Swaps, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Hedge Funds, Investment Advisers, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Legg Mason, LPL Financial, Misrepresentation/Omission, Morgan Keegan, Morgan Stanley, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Oppenheimer, Preferred Stocks, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, SunTrust, UBS, Unsuitable Recommendations, Wachovia, Wells Fargo
Posted by Page PerryonFebruary 14, 2011
The new whistleblower program that pays big cash rewards for tips about investment fraud has already resulted in a large number of high quality tips to the SEC, according to a news story this week on CNBC. According to the report, the SEC expects to receive 30,000 tips this year?just one year after the program […]
Categories: Ameriprise, Bank of America, Bank of New York Mellon, Barclays, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Credit Suisse, Deutsche Bank, Employment Issues, Fidelity, Financial Industry Whistleblowers, Goldman Sachs, J. P. Morgan Chase, Legg Mason, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, State Street, SunTrust, TD Ameritrade, UBS, Wells Fargo
Posted by Page PerryonFebruary 2, 2011
Wall Street apparently hasn’t learned anything from the recent financial crisis that has brought the U.S. economy to its knees. Wall Street publicly traded companies paid out a record $135 billion in compensation and benefits last year, according to a Wall Street Journal article by Aaron Lucchetti and Stephen Hough titled “On Street, Pay Vaults […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Credit Suisse, Deutsche Bank, Employment Issues, Goldman Sachs, J. P. Morgan Chase, Market Developments, Merrill Lynch, Morgan Stanley, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, UBS, Wells Fargo
Posted by Page PerryonJanuary 18, 2011
Bank of America has agreed to pay $2.6 billion to settle charges that Countrywide (which BofA acquired) made material misrepresentations about home loans it sold to Fannie Mae and Freddie Mac, according to articles in the New York Times by Gretchen Morgenson (“$2.6 Billion to Cover Bad Loans: It’s a Start”) and Bloomberg.com by Steve […]
Categories: Bank of America, Brokerage Firms, CDOs, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, J. P. Morgan Chase, Market Developments, Merrill Lynch, Morgan Stanley, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, SunTrust, UBS, Wells Fargo
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 PerryonOctober 14, 2010
Arbitrations filed by brokerage firms against departed brokers to collect amounts due under promissory notes have accounted for 17% of all FINRA arbitration awards in 2010, the highest percentage in a decade, according to the Financial Industry Regulatory Authority (FINRA) and a recent Wall Street Journal article by Aaron Lucchetti (“Signing Bonuses Haunt Wall Street”).
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Employment Issues, J. P. Morgan Chase, Merrill Lynch, Morgan Stanley, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS, Wachovia, Wells Fargo
Posted by Page PerryonOctober 5, 2010
Securities firms have sold over $30 billion of complex structured products to investors (often retirees seeking safe income) who do not understand the nature and risks of these securities, according to an article by Zeke Faux which was published in the October 4-10, 2010 edition of Bloomberg Businessweek under the title, “Individual Investors Duped by […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Elder Abuses, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, Regulatory Developments, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS, Wachovia, Wells Fargo
