Posts belonging to Category A General Overview
Posted by Page PerryonAugust 23, 2012
InvestmentNews is reporting that the Behringer Harvard Strategic Opportunity Fund I owes more money than it can pay, that its liabilities exceed its assets (“Behringer Harvard opportunity fund under water”). “Behringer Harvard informed brokers last week of the fund’s problems and is preparing to inform investors by Friday,” according to the article. The Behringer Harvard […]
Categories: A General Overview, Alternative Investments, Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Fairness/Just & Equitable Conduct, Investigations, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Nontraded REITs, REITs, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Unsuitable Recommendations
Posted by Page PerryonAugust 22, 2012
New types of scams are posing threats to investor well-being. The North American Securities Administrators Association (NASAA), a group of state securities regulators) has identified four new types of fraud to go along with the 6 persistent fraud threats that round out their Top Ten Threats to Investors.
Categories: A General Overview, Affinity Fraud, Brokerage Firms, Common Securities Broker Abuses, Crowd Funding, Early Retirement Scams, Fairness/Just & Equitable Conduct, Insurance Products, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Nontraded REITs, Oil & Gas, Ponzi Schemes, Private Investments/Reg D, Promissory Notes, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Tenant-in-Common Interests, Unsuitable Recommendations, Variable Annuities and Equity-Indexed Annuities
Posted by Page PerryonJuly 17, 2012
A new Financial Industry Regulatory Authority (FINRA) rule (Rule 2111) significantly broadens stockbroker duties owed to customers. The rule, which took effect July 9, 2012, is expected to weaken or eliminate certain arguments brokerage firms use to try to deflect liability (“New FINRA rule seen as weakening brokerage defenses,” by Suzanne Barlyn, Reuters).
Categories: A General Overview, Brokerage Firms, Common Securities Broker Abuses, Elder Abuses, Investment Advisers, Investment Malpractice, Investor Alerts, Investor Rights, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Stockbroker Standards of Conduct, Unsuitable Recommendations
Posted by Page PerryonJuly 2, 2012
At the behest of the Securities and Exchange Commission, the U.S. federal district court in Atlanta has issued an order freezing the assets of Aubrey Lee Price, a Georgia investment adviser, his PFG fund, and affiliated entities. The SEC has accused Price of committing a $40 million investment fraud. The SEC also says that Mr. […]
Categories: A General Overview, Affinity Fraud, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Unsuitable Recommendations
Posted by Page PerryonJune 27, 2012
The Financial Industry Regulatory Authority (FINRA) has fined Merrill Lynch $2.8 million for overcharging nearly 95,000 customers with fees totaling more than $32 million. The overcharges occurred from April 2003 to December 2011. The fine also included failing to provide timely trade confirmations. (“Merrill Lynch Fined for Overcharging Customers,” Wall Street Journal).
Categories: A General Overview, Bank of America, Brokerage Firms, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Merrill Lynch, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 1, 2012
More bad news for J.P. Morgan Chase ? regulators in Japan have found that a Japanese employee of JP Morgan was involved in insider trading in connection with a share offering by Nippon Sheet Glass Co. The employee, who was not identified, reportedly leaked inside information to people at Asuka Asset Management. This latest revelation […]
Categories: A General Overview, Brokerage Firms, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Stocks
Posted by Page PerryonApril 11, 2012
Investors sometimes hire a financial adviser to manage their money professionally if for no other reason than to escape their own irrationality. Many investors know that, in investing, their emotions can be their worst enemy ? leading them to buy high and sell low. They think that a financial adviser, detached from their emotions, will […]
Categories: A General Overview, Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Stockbroker Standards of Conduct, Unsuitable Recommendations
Posted by Page PerryonApril 9, 2012
As America ages, regulators are seeing more and more financial abuse of people 50 years of age or older. The North American Securities Administrators Association (NASAA), the association of state securities regulators, reportedly filed 1,241 such enforcement actions in 2010, the latest year for which data has been compiled ? more than double the 506 […]
Categories: A General Overview, Brokerage Firms, Early Retirement Scams, Elder Abuses, Fairness/Just & Equitable Conduct, 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 PerryonMarch 22, 2012
Morgan Stanley’s CEO James Gorman warned Morgan Stanley employees not to circulate a New York Times op-ed piece by former Goldman employee Greg Smith that blasted Goldman’s culture as “morally bankrupt” and said that success at Goldman was often achieved by selling products that the firm wanted to get rid of. Smith wrote the article […]
Categories: A General Overview, Brokerage Firms, Common Securities Broker Abuses, Goldman Sachs, Investment Malpractice, Investor Alerts, Morgan Stanley, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMarch 22, 2012
Sell recommendations by investment analysts working on Wall Street are still a rarity years after regulators and Congress imposed rules to clean up analyst fraud, and years after FINRA banned Jack Grubman of Citigroup and others who issued buy recommendations on technology stocks they privately considered to be “pigs,” in order to reap personal financial […]
Categories: A General Overview, Brokerage Firms, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, Investor Rights, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
