Posts belonging to Category Unsuitable Recommendations
Posted by Page PerryonDecember 12, 2012
Massachusetts has filed fraud charges against two out-of-state companies, Prodigy Oil and Gas LLC and Synergy Oil LLC, in connection with their sale of unregistered securities to Massachusetts investors. Prodigy raised at least $464,000 from one Massachusetts investor and Synergy raised $35,000 from two investors, according to Commonwealth Secretary William Gavin’s complaint.
Categories: Brokerage Firms, Common Securities Broker Abuses, Crowd Funding, Disciplinary Actions, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Private Investments/Reg D, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Unsuitable Recommendations
Posted by Page PerryonDecember 10, 2012
Many experts believe that fixed income has become a high-risk asset class, more so than at any time in recent years. Demand has pushed bond prices way up and yields way down. Bond sales for 2012 are expected to break the 2009 record of $1.024 trillion. Investors’ average allocation to fixed income is 26%, double […]
Categories: Bonds, Brokerage Firms, Church Bonds, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, High Yield (Junk) Bonds, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Market Developments, Misrepresentation/Omission, Mutual Funds, Promissory Notes, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, Unsuitable Recommendations
Posted by Page PerryonDecember 7, 2012
At least a half a dozen independent broker-dealers sold variable annuities reportedly issued by Sun Life Financial, Inc. that lost substantial monies investing in hedge funds. The hedge funds, which used a combination of put and call options to bet that the S&P 500 stock index would not vary outside of a certain range, lost […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, FSC Securities, Hedge Funds, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Lincoln Financial, Misrepresentation/Omission, National Planning Group, Regulatory Developments, SagePoint Financial, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Unsuitable Recommendations, Variable Annuities and Equity-Indexed Annuities
Posted by Page PerryonDecember 6, 2012
Financial exploitation of the elderly is a serious and growing problem that has affected, and sometimes devastated, many lives. We hear most often about exploitation by scam artists who are, at least initially, strangers to the victim. What may come as a shock is the fact that exploitation by trusted family members and others close […]
Categories: A General Overview, Affinity Fraud, Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Unauthorized Trading, Unsuitable Recommendations
Posted by Page PerryonDecember 3, 2012
Affinity fraud cases continue increase. Investors should be particularly careful when dealing with financial advisers with whom they share a common characteristic or interest. While that may sound counterintuitive, affinity fraud, which is based on such commonalities, has devastated many trusting investors. The affinity often involves something that has been an object of discrimination ? […]
Categories: A General Overview, Affinity Fraud, Brokerage Firms, Common Securities Broker Abuses, 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, Unsuitable Recommendations
Posted by Page PerryonNovember 30, 2012
The Financial Industry Regulatory Authority is considering a rule change that would require firms to disclose brokers’ recruitment compensation packages to transferring customers. Brokers who are recruited to change firms often receive financial incentives that may subtly encorage them to engage in unlawful sales practices, such as churning and unsuitable sales, in order to generate […]
Categories: Brokerage Firms, Churning, Common Securities Broker Abuses, Employment Issues, Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, Investor Rights, Misrepresentation/Omission, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Unsuitable Recommendations
Posted by Page PerryonNovember 29, 2012
Investors are urged to be cautious about purchasing structured notes. Brokers are on track to sell more than $10 billion of structured notes linked to the S&P 500 stock index this year. In fact, sales will reach the highest levels in at least three years, according to Bloomberg (“Structured Notes Tied to S&P 500 Set […]
Categories: Alternative Investments, Brokerage Firms, Common Securities Broker Abuses, Derivatives, Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes, Unsuitable Recommendations
Posted by Page PerryonOctober 30, 2012
Variable prepaid forward transactions result in a huge judgment against JPMorgan. An Oklahoma state court judge recently found that JPMorgan Chase breached its fiduciary duty as a co-trustee of a trust and ordered it to pay more than $18 million, including punitive damages for “reckless disregard for the rights of others.” In a 32-page opinion, […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Stocks, Unsuitable Recommendations
Posted by Page PerryonOctober 18, 2012
The recent actions of errors and omissions insurance carriers should serve as a major red flag to investors. Many of these carriers are refusing to issue coverage for sales of certain alternative investments. In other words, these carriers have determined that the risk of loss associated with the sale of certain alternative investments is too […]
Categories: Alternative Funds, Alternative Investments, Brokerage Firms, CDOs, Closed End Funds, Common Securities Broker Abuses, Derivatives, Early Retirement Scams, Elder Abuses, Exchange Traded Notes (ETNs), Exchange Traded Products (ETPs), Exchange-Traded Funds (ETFs), Fairness/Just & Equitable Conduct, Hedge Funds, High Yield (Junk) Bonds, Insurance Products, Investment Advisers, Investment Malpractice, Investor Alerts, Limited Partnerships, Misrepresentation/Omission, Non-Traded Business Development Companies, Nontraded REITs, Oil & Gas, Private Equity Investments, Private Investments/Reg D, Promissory Notes, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes, Supervisory Failures, Tenant-in-Common Interests, Unsuitable Recommendations, Variable Annuities and Equity-Indexed Annuities
Posted by Page PerryonOctober 16, 2012
Equifax and NCR have reportedly joined a growing number of large U.S. corporations that are offering employees lump sum payouts in lieu of their guaranteed, lifetime monthly pension payments. Other notable companies offering pension buyouts include General Motors, Ford, Sears, Archer Daniels Midland, automotive industry supplier Visteon, and the New York Times Co.
Categories: Brokerage Firms, Early Retirement Scams, Elder Abuses, Employment Issues, Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Unsuitable Recommendations
