Posts belonging to Category Investigations
Posted by Page PerryonOctober 22, 2012
There are about 1,500 exchange traded funds on the market today. The recent boom (and bust) of new exchange traded products is mostly in the smaller, exotic and niche end of the spectrum. The problems associated with such products include lack of performance history, illiquidity, volatility, over concentration, and sometimes (for the funds themselves) death.
Categories: Alternative Investments, Brokerage Firms, Exchange-Traded Funds (ETFs), Investigations, Investment Advisers, Investor Alerts, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonOctober 22, 2012
The SEC has charged a New Jersey-based hedge fund, Yorkville Advisors LLC, and officers with fraudulently overvaluing illiquid investments in order to attract investors to their hedge fund. Attracting more investors increases hedge fund fees, which are based on a percentage of the amount of money the fund manages. The charges are part of a […]
Categories: Alternative Investments, Brokerage Firms, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, Hedge Funds, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonOctober 12, 2012
Large numbers of exotic and niche exchange traded products (both funds and notes) have either folded or are on a “death watch.” One such fund, according to John Waggoner of USA Today, has not traded since January (“Some exchange traded funds in ER”).
Categories: Alternative Investments, Brokerage Firms, Derivatives, Exchange Traded Notes (ETNs), Exchange Traded Products (ETPs), Exchange-Traded Funds (ETFs), Investigations, Investment Advisers, Investor Alerts, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonOctober 11, 2012
Variable annuities have long been criticized as one of the worst investment choices ever. Complicated, costly, and Illiquid by virtue of surrender penalties, variable annuities offer investors less benefit than traditional investments that can bought without the expensive insurance company wrapper, according to many experts.
Categories: Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Fairness/Just & Equitable Conduct, Insurance Products, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Unsuitable Recommendations, Variable Annuities and Equity-Indexed Annuities
Posted by Page PerryonOctober 5, 2012
Page Perry partner Robert D. Terry has been appointed as Receiver in an enforcement action filed by the U.S. Securities and Exchange Commission in U.S. District Court in Atlanta. The SEC requested the court to appoint Mr. Terry as Receiver for the estate of Summit Wealth Management, Inc. and other affiliated entities that are defendants […]
Categories: A General Overview, Common Securities Broker Abuses, Hedge Funds, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Private Investments/Reg D, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonOctober 4, 2012
Page Perry announces that it is investigating instances where church bonds were improperly sold to members of the investing public. Recently the firm has been approached by investors whom sustained devastating losses as a result of investing in church bonds and has found an array of misconduct by the sellers ranging from outright fraud to […]
Categories: Affinity Fraud, Bonds, Brokerage Firms, Church Bonds, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Fairness/Just & Equitable Conduct, G A Repelle, High Yield (Junk) Bonds, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Supervisory Failures, Unsuitable Recommendations
Posted by Page PerryonSeptember 24, 2012
In recent years, church bonds have been hazardous for investors. Many of these investor losses can be attributed to the fact that church bonds were routinely sold by promoters and investment advisers as safe investments. These representations were simply untrue.
Categories: Affinity Fraud, Bonds, Brokerage Firms, Church Bonds, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Fairness/Just & Equitable Conduct, High Yield (Junk) Bonds, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Supervisory Failures, Unsuitable Recommendations
Posted by Page PerryonSeptember 19, 2012
Church bonds, and broker sales practices involving them, have earned a spot on the list of examination and enforcement priorities of the Financial Industry Regulatory Authority (FINRA) for 2012. FINRA is concerned about sales of church bonds arising out of brokers’ inappropriate sales practices, unsuitable product offerings and misrepresentation.
Categories: Affinity Fraud, Brokerage Firms, Church Bonds, Commodities and Futures, Common Securities Broker Abuses, Elder Abuses, Fairness/Just & Equitable Conduct, G A Repelle, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Unsuitable Recommendations
Posted by Page PerryonSeptember 19, 2012
The SEC has filed a civil action against Atlanta-based Summit Wealth Management Inc. and its president Angelo A. Alleca charging them with fraud resulting in the loss of over $17 million of investors’ money. The suit seeks an order freezing the defendants’ assets, an order appointing a receiver and an order requiring an accounting of […]
Categories: A General Overview, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Ponzi Schemes, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Unsuitable Recommendations
Posted by Page PerryonSeptember 18, 2012
The U.S. District Court for the Southern District of Florida confirmed an award in favor of two former financial advisers and against Merrill Lynch in the amount of $10,250,000. Merrill Lynch had petitioned the district court to vacate the award arguing, in essence, that the record of the arbitration proceeding demonstrated bias on the part […]
Categories: Brokerage Firms, Employment Issues, ERISA Fiduciaries and Claims, Investigations, Investment Advisers, Market Developments, Merrill Lynch, Securities/Commodities Arbitration
