Legal News

UBS Financial Services Inc. And Ubs Financial Services Of Puerto Rico Ordered To Pay Millions To Some Investors After Claims Involving UBS’s Proprietary Puerto Rican Bond Funds Clearing House Firm Electronic Transaction Clearing, Inc. (“Electronic”) Charged by FINRA SSEK Investigating Claims Involving Jeff Wilson and Wells Fargo Investment Advisor Charged by SEC with Stealing from Investors Goldman Sachs Settles Lawsuit Over Short Selling Shares of SSEK Investigating Claims Involving optionsXpress, Inc. and brokersXpress, Inc. Shepherd Smith Edwards & Kantas LLP Investigating Claims Involving Puerto Rico UBS Bond Funds La Firma de Abogados de Shepherd Smith Edwards & Kantas LLP Investiga Casos que Involucran la Expedición de Fondos de Bonos por Parte de UBS en Puerto Rico JP Morgan Facing Increasing Scrutiny Investor Assets may be at Risk with Investment Advisors Strategic Return Notes Oppenheimer Found Liable for Representative Mark Hotton’s Fraud Lawsuit Filed Against Wachovia for Failing to Detect Ponzi Scheme LPL Financial, LLC Settles Charges by Massachusetts Securities Enforcement Division over Improper Sale of Non-Traded REITs Lawsuits over Stanford Ponzi Scheme Move Forward on Both Civil and Criminal Fronts UBS Willow Fund, L.L.C. Cases Preliminary Settlement Approved for Investor CDO Suit Against Citigroup Barclays fined over $450 million for market manipulation New FINRA Suitability Rule Former Red Sox Catcher Hands Merrill Lynch and Its Acclaimed Phil Scott Team Its Second Big Loss in a Year Claimant Gets Everything Requested from Edward Jones Claimant's Attorney Gets Away with Murder in FINRA Case 31 Year old UBS Trader Causes a $2 Billion Loss FINRA Statistics Show Investors Win 46% of the Time SEC Charges Pair for Insider Trading SEC Expands Probe of CDO Deals Regions is Having a Hard Time Unloading Morgan Keegan More Delays for the Fiduciary Standard of Care SEC to Prohibit Firms From Betting Against Products Sold to Investors Another Beleaguered Broker Dealer Closes Shop SEC Puts the Brakes on Christian Stanley, Incorporated Major Banks May Get a Multibillion-Dollar Deal FINRA Announces Fines for Firms Charging Excessive Fees Alzheimer's and Financial Exploitation of the Elderly Fired Customer Seeks Revenge SEC Charges Texas Man for Targeting Deaf Investors SEC Charges Black Diamond Securities with Fraud Morgan Keegan Continues to Lose Bond Fund Cases $50,000 Bail Set for Former Marvell Employee Who Leaked Inside Info Schwab Sues Banks for Manipulating Libor SEC Charges Floridians with Running a Ponzi Scheme FINRA Panel Slams Wedbush Securities for $2.8M Oppenheimer Loses $1.1M FINRA Arbitration in Denver Claimant Wins $350,000 FINRA Award in Alaska U.S. Bancorp Sues Bank of America to Force a $1.75B Buyback Goldman Agrees to Compensate Victims of Wrongful Foreclosures and Put an End to Bank of America's Worst Nightmare The Portrait of Today's Investor Federal Agency is Set to File Suit Against Major Banks for MBS Another B-D Closes Due to Fraudulent Private Placements Morgan Stanley Forecasts $1.7B in MBS Losses Operator of Ponzi Scheme Could Get 329 Years in Prison Bank of America’s Troubles Continue to Pile Up Wells Fargo to Pay $590 Million to Settle Claims it Misled Investors Heisman Trophy Winner Loses $2M in Ponzi Scheme Former Citigroup Broker is Indicted for Stealing Over $800K from Clients and Citigroup is Fined $500K for Failing to Supervise Her Goldman is Sued by the NCUA for Misrepresenting MBS Stifel Nicolaus is Charged with Fraud by SEC SEC Charges Inside Trader Who Made a 3000% Profit Commonwealth & LPL Financial Face Fallout From a Real Estate Private Placement They Sold Capwest Securities Suffers a $940,000 Loss in FINRA Case Insurance Agent Who Preyed on the Elderly Could Go to Prison for Almost 100 Years Morgan Keegan Gets Popped for $555,400 Philadelphia RIA Agrees to a $11M Settlement with the SEC Investors Wanting to Opt Out of Oppenheimer Funds Settlement Must Do So Before August 31, 2011 FINRA Permanently Bars Former UBS Broker Who Used Customer Money to Pay Her Bills Lawsuit Says Wells Fargo is Violating Federal Rules on Reverse Mortgages FINRA Permanently Bars Former American General and AXA Rep Madoff Trustee Reaches a $1 Billion Deal with Tremont Group Financial Planner Suspected of Running a Ponzi Scheme Involving Athletes and Coaches Found Dead Charles Schwab is Popped for $323,120 in a Yieldplus Case FINRA Panel Orders Neuberger Berman to Pay $5 Million RBC Capital Rep Used Major Mortgage Lenders are Still Largest Fine Ever Agreed to by Wells Fargo to Settle Claims it Falsified Loan Documents FINRA Issues Notice on How Illiquid Non-Traded REITs are Valued on Customer Statements Countrywide Investors May be Entitled to $27.5B Instead of $8.5B Next Rep William Bailey Suspended for Excessive Trading of Mutual Funds and Variable Annuities Fraud Scheme Sends Conspirators to Prison ARS NEWSLETTER - Fair Game: The Investors Who Can’t Come in From the Cold Eight Former Employees of Defunct Brokerage Firm Hampton Porter Investment Bankers are Indicted by Federal Grand Jury Revenge of the Investor N.Y. Files Fraud Suit Against H&R Block NASD Fines Reach Record Levels David A. Noyes & Co. to Pay $550K to Settle Variable Annuities Case Waddell & Reed Agrees to Pay $11 Million to Settle Annuities Switching Case NASD Says Firms Directed Investors to Costly Options to Boost Their Commissions SEC Settles Securities Fraud Charges Against Theodore Sihpol NASD Orders Morgan Stanley to Pay Over $6.1 Million for Fee-Based Account Violations Edward Jones Reaches $1.5M Settlement American Express Unit is to Pay Settlement in Mutual Fund Probe NASD Fines Hornor, Townsend & Kent, Inc. $325,000 for Improper Sales Contests, Email and Supervision Violations; Firm Ordered to Prohibit Variable Product Sales Contests for Three Years Hartford Reports New York Subpoena Who's Preying on Your Grandparents? NASD probing A.G. Edwards Fund Sales Morgan Stanley Hit with Class Action Alleging Discovery Improprieties 15 Specialists from Big Board are Indicted Morgan Stanley Clamps Down on Sales of Some Fund Classes Two Top Morgan Stanley Bankers Resign S.E.C. Expands Best-Price Rule on Stock Trading Investors File Suit Against A.G. Edwards Oceanside Woman Sues A.G. Edwards Missouri Suspends Waddell's License NASD Rethinking Scope of Sales Contests Policy NYSE Regulation Fines Merrill Lynch $13.5 Million Salomon Smith Barney Disciplined for Supervisory Failures Relating to Electronic Communications President Bush's Uncle Loses Securities Arbitration Case Jesup & Lamont: NASD Fines, Suspends Analyst for 6 Months Morgan Stanley: NASD Eyes Disciplinary Action vs Unit Details of Stock Research Settlement Outlined Morgan, Merrill Face Lawsuits Over Annuities Morgan Stanley Subpoenaed Over Annuity Sales Edward Jones Details Payments by 7 Funds Top Executive at Edward Jones to Step Down How Consultants Can Retire on Your Pension Morgan Stanley Lawsuits SEC Charges Morgan Stanley with Inadequate Disclosure in Mutual Fund Sales Unit of H&R Block is Accused of Fraud Five Execs convicted in Enron Barge Case Regulators Charge Brokerage Firm Raymond James Wall Street to have Role in 1st Enron Trial SEC Charges Charles Schwab & Co. with Improperly Allowing Certain Customers to Purchase Mutual Fund Shares After Market Close Research Settlement Completed: 2 More Banks Agree to Pay $100 Million SEC Sues Three in Stan Lee Stock Fraud Case Global Money Management LP and Zenith Capital Fund Losses May Be Returned Sales of Investments to G.I.'s Under Scrutiny in Washington Top 10 Investing Scams NASD Disciplines Three Firms, Three Brokers for Variable Annuity Abuses Check is Not in The Mail in WorldCom Settlement Citigroup in $2.65 Billion WorldCom Settlement The WorldCom Settlement: What it Means for You Actor Larry Hagman From the TV Show “Dallas” Wins $12 Million From Citigroup in a Securities Arbitration Putnam to Pay $110 Million in Fund Trading Probes Janus Settles Fund Trading Complaints for $225 Million A Broker's Empty Promise, a Retiree's Shattered Dream Conflict Probes Resolved at Citigroup and Morgan Stanley Tough Road for Investor Payback Investors Seeking Lost Assets Face Hard Road Few Believe $1.4B Deal will Change Wall St. 10 Wall St. Firms Settle With U.S. in Analyst Inquiry In a Wall St. Hierarchy, Short Shrift to Little Guy Fines, Findings May Bring IPO Case to a Head Lawsuits Over IPOs to Proceed Ex-Salomon Broker Files Claim on Grubman, Citigroup Regulators Announce $1.4 billion Settlement with Wall Street SEC Chairman Resigns Under Pressure Credit Suisse First Boston under fire for Conflict of Interest, Misleading Clients Complaint Expected to be Filed Against Credit Suisse First Boston Merrill Lynch Lawsuits Fraudulent Analyst Lawsuits Online Investors Get 10 Tips from State Securities Regulators State Securities Regulators Highlight Problems with day Trading NASD Regulation Files Six Enforcement Actions Involving Marketing and Sales of Variable Annuities Scandal Sullies Mutual Funds SEC joins Probe, Asks Funds for Documents Bill to Limit Oversight of Wall St. Gains NASD Takes Disciplinary Actions for Variable Annuity Abuses and Issues Investor Alert on Variable Products SEC Takes Steps to Address Late Trading, Market Timing and Related Abuses SEC Charges Invesco Funds Group, Inc. and CEO Raymond Cunningham with Fraud and Breach of Fiduciary Duty for Allowing Market Timing at Invesco Funds SEC: More Mutual Fund Charges are Likely Janus Capital Group Under Investigation Experts: Mutual Funds Riddled with Abuse Richard Strong Resigns as Chairman of Strong Mutual Funds Putnam's Chief Steps Down Amid Shake-Up in Fund Industry SEC, Massachusetts Accuse Putnam of Fraud Bond Arbitration Cases Boom; More Cases Expected as Interest Rates Rise Former Morgan Stanley Broker's Assets Frozen Stocks That May Have Been the Subject of Tainted Investment Bank Research ARS Auction Failure FINRA Requires Complete and Accurate U-5 Reporting Wall Street Crisis Snares Main St. Schools Unanimous SEC Vote to Eliminate Window Dressing Lehman Brothers (LEHMQ) Principal Protected Notes FINRA Changes the Rules to Prevent “Cram Down” Arbitrators FINRA Requires Complete & Accurate U-5 Reporting FINRA Special Arbitration Procedure (SAP) The Lehman Debacle That Unraveled The US Economy Celebrated Its Two Year Anniversary On September 15, 2010 Hartford's Variable Annuity (VA) Exchange Letter Non-Trade REITs - Risky Investments $9.2 Million Awarded Against Morgan Keegan in Houston Tx Securities Arbitration Case Elderly Lady With Parkinson’s Awarded $110,000 $397,034 Compensatory Damages Plus Punitive Damages Awarded Lehman Brothers Preferred Series “J” Stock Majority of Investors Think Brokers are Fiduciaries Raymond James (RJF) Hit with a $925,000 Award in Auction Rate Securities (ARS) Case Rating Agencies Ignored the Fact that Loans Were Bad in Mortgage Backed Securities (MBS) FINRA Proposing to Allow Choice of All-Public Panel Mortgage Backed Securities (MBS) Wreak Havoc On Credit Unions Some Insight Into the $12 Million J.R. Ewing Award Structured Notes are Complex Products Hall of Fame Quarterback John Elway Sacked by a Ponzi Scheme $22.5 Million Penalty Paid to Settle SEC Charges Remember October 19, 1987? Morgan Stanley Gets Hit in Phoenix FINRA Fines Firm for Inadequate Supervision of Sales of Reverse Convertibles Founder of Scoop Management Sentenced to 14 Years in Prison Morgan Keegan Fails in Attempt to Muddy the Water Real Estate Investment Trusts (REIT) Claims FINRA Warnings for Commodity Linked Securities Saint's Player Sues Financial Advisers for $3.9 Million Lack of Supervision Continues to Haunt Wall Street Firms Another Hedge Fund Hit by the Sec UBS - Lehman Brothers 100% Principal Protected Notes Kenneth Wayne McLeod Ponzi Scheme Losses Regions John Elway's Hedge Fund Manager Pleads Guilty Are We Headed for a Bond Bubble $543,612 Award in a Medical Capital Case Medical Capital Holdings & Provident Royalties, LLC UBS Loses Big Case Involving Lehman Structured Notes FINRA Fines Ferris, Baker Watts $500,000 for Inadequate Supervision of Sales of Reverse Convertible Notes (Revcons) Sec Investigates Citigroup’s Mat/Asta and Falcon Funds 329 Years in Prison and $6.8 Million Fine for Ponzi Schemer Finra Fines Goldman Sachs $650,000 Oppenheimer Ca Municipal Fund Losses Goldman Sachs Loses Attempt to Set Aside $20.6 Million Award Oppenheimer Champion Income Fund Losses Stifel Nicholaus & Company Settles Ars Case in New Jersey Citigroup Agrees to Pay $95.5 Million to Buy Back Frozen Auction Rate Securities (Ars) Investors’ Recovery Rate is 49% in FINRA Arbitrations Interest Rate Swaps Result in a $4 Billion Backfire Ubs to Pay $6.6 Million for Violating Florida Law Oppenheimer Hit with $668,816 Auction Rate Securities (ARS) Award Reverse Convertible Notes with Contingent Downside Protection FINRA Investigates Morgan Stanley Arkansas Broker FINRA Panel Orders Morgan Stanley to Pay Merrill $1 Million Beware of Variable Annuity Swaps Will Ferrel Not as Fortunate as Larry Hagman Comptroller in Charge of $106 Billion NYC Pension Plans Requests Major Lenders to Review Lending and Foreclosure Procedures SEC Charges Two More Former Madoff Employees with Fraud Elder Financial Exploitation Program FBI Raids Three Hedge Fund Offices During Insider Trading Investigation Sec Probing Citigroup in $1 Billion Mortgage Deal Morgan Keegan Hammered for $1,845,318 UBS & Morgan Stanley Fined $1.5 Million in Oregon Ars Case Prudential & Wachovia Hit for $2 Million in Mississippi Michigan Investment Adviser Steals from Elderly to Pay for Dancers Beware of Your Broker’s Credentials UBS Sued for $2 Billion by Madoff Trustee Citigroup Settles Auction Rate Securities (ARS) Dispute with Hawaii for $869 Million Testimony Reveals Countrywide’s Mortgage Documentation Errors Morgan Keegan Hit for $541,000 in Case Where Investors Researched Funds and Purchased Them at On-Line Brokerage Firm $106 Billion May Be the Cost of Mortgage Buybacks FINRA Seeks to Shut Down Pinnacle Partners Citigroup Ordered to Pay $2.4 Million for Municipal Arbitrage Loss FINRA Hits NEXT Financial of Houston with $400,000 Fine Citigroup Hit with Another Award of $1.5 Million to Charity SEC Charges Deloitte Partner and Wife with Insider Trading Madoff Trustee Files $6.4 Billion Suit Against JP Morgan Chase Non-Traded Reits Bank of America (BAC) Settles Fraud Charge for $137 Million Moody's Investors Service Downgrades Nearly $70 Billion in Residential Mortgage Backed Securities (RMBS) We Previously Reported That Ubs was Ordered to Pay $529,688 to Investors Who Owned Lehman Principal Protected Notes…………………Now for the Rest of the Story MBIA Insurance Sues Morgan Stanley (MS) For Fraudulent Inducement New FINRA Site Compares Financial Capabilities By State Muni Bond Probe Nails Three Former UBS Bankers Madoff Trustee Saves the Best for Last Nearly 100 Small to Midsize Firms Sued for Sales of DBSI TICs Morgan Stanley Broker Admits Plot Involving Disabled Children Former Wachovia Brokers Accused of Defrauding the Elderly Citigroup Ordered to Pay $304,639 for Sale of ASTA Five Ernst & Young Faces Fraud Charges Madoff Trustee Collects $7.2 Billion From Philanthropist's Estate J.P. Morgan Chase, Citigroup, Bank of America, Goldman Sachs & Wells Fargo Subpoenaed in MBS Investigation Notice: Schwab Yieldplus Fund Opt Out Deadline Nears J.P. Morgan Settles with Florida for Bond Sales to Muni Fund Brokers Mistakenly Merril Lynch Incentivized Buying Bum Mortgage Backed Securities FINRA Expels APS Financial for Targeting Elderly Investor Allstate (ALL) Sues Bank of America (BAC) and Its Countrywide Financial Unit for Losses of $700 Million in MBS New York State Pension Fund Settles for $10 Million From Rattner Securities America Hammered for Nearly $1.2 Million in Medical Capital Case Another Mammoth Award of $2.2 Million Against UBS Morgan Stanley Ordered to Pay $110,000 to 401 (K) Participant Evergreen Tipped Off Select Clients and Overstated Fund Value Broker Who Defrauded Elderly Nuns Settles with Sec Goldman Sachs Sued for Fraud Connected with Abacus Cdo’s Managers of Tax Free Fund for Utah (Tffu) Charged with Fraud Greensboro Firm Charged with $65 Million Fraud on Pension Funds, School Endowments, Hospitals and Non-Profits 157 Banks Were Shuttered in 2010 Medical Capital Claims Continues to Haunt Securities America Tomball Texas Firm Investigated for Fraud Centaurus Financial Blistered in Award Private Placement Deals Continue to Take Down Broker-Dealers Investor Warnings About the $3 Trillion Muni-Bond Market SEC Ramping Up Oversight of Muni-Bond Market Alnbri Management CEO Charged with Threats to SEC and FINRA Arbitrator Rules Firm Committed Fraud in TIC Deal Long Island Adviser Charged with Fraud by SEC New Jersey Regulators Say $40 Million Lost in Ponzi Scheme California Firm Charged in $14 Million Commodity Pool Scheme QA3 Financial Hammered with $1.6 Million Award in TIC Case City of Vallejo Bankruptcy Would Result in 95% Loss for Creditors Beware of Investing in Exchange Traded Funds (ETF) Mayors of Chicago and Los Angeles Say Bond Defaults Likely Citigroup Hit for $142,862 in General Motors (GM) Preferred Stock Case Caution: Alternatives to Traditional Bonds Have Big Risks Senior Citizen Hits Wells Fargo in Reverse Convertible Case Goldman Sachs Settles ARS Allegations in Virginia & Colorado Community Bankers Securities Slammed for $752,000 in Medical Provider Funding Corporation VI (“MP6”) The String of UBS Losses Keeps Growing Merrill Lynch Charged by SEC with Misusing Customer Order Information and Charging Undisclosed Trading Fees Brewer Financial Hit for Compensatory and Punitive Damages Countrywide Acquisition Proves to be Achilles Heel of BAC Bear Stearns’ Blatant Corruption is Revealed Blame For Financial Meltdown Widespread Value Of Home Removed From Accredited Investor Requirement FCIC Says Merrill Hid $30.4 Million in CDO During Crisis Another Morgan Keegan Bond Fund Victory For Investors South Carolina Sues BNY for Lehman and Subprime Losses There is No Slowdown in Financial Exploitation of the Elderly Indexed Annuities are Terrible Investments for Seniors Raymond James Slammed with a $1,000,000 Award Investors Can Choose to Have an All-Public Panel Hear Their Case SEC Reaches Settlement with TD Ameritrade for $10 Million JP Morgan's Reputation at Stake in Lawsuit FINRA Arbitrators Slap Citigroup with $6.4 Million Award UBS to Buy Back $1.5 Billion Auction Rate Securities (ARS) J.R. Ewing Award of $11.6 Million Set Aside Madoff Trustee Seeking $1 Billion From the NY Mets Calpers Sues Lehman Brothers for Misrepresentations Related to Mortgage Backed Securities (MBS) Private Placements Lead to Demise of Brokerage Firm BNY Mellon Accused of Ripping Off Virginia Pension Fund S&P Lowers Bond Rating on Another State SEC Charges Indymac Bancorp with Fraud for Misleading Investors Another Med Cap / Provident Private Placement Settlement Allstate Sues JP Morgan Over the Mortgage Backed Securities Mess Trustee is a Bulldog for Some an Angel for Others SEC Claims Amish Man Scammed His Own Community For $33 Million Lincoln Financial Fined $600,000 for Failing to Protect Confidential Client Information FINRA Serves National Securities with Wells Notice Stanford Sues the Feeds for $7.2 Billion Morgan Keegan's Woes Continue 23 States Enlist Doctors to Help Fight Elder Fraud Investors Still Do Not Trust Brokers Investors Seek to Force Bank of America to Buy Back Loans Top SEC Lawyer Sued for Profits From the Madoff Scheme Securities America Scores Legal Victory in Reg D Case Survey Should Be of Concern to Investors Bank of America Fined for Failures in 529 Plans FINRA Sends E*Trade a Wells Notice for Auction Rate Securities (ARS) Walt Disney Assistant Sentenced for Insider Trading Larry Hagman's Broker Leaves Firm for Wedbush A Properly Invested Portfolio Suffers Little Loss SEC Nips a Dallas-Fort Worth Ponzi Scheme in the Bud Nation's Largest Banks Brace for Billions of Potential Losses FINRA Disciplinary Actions Increase by 13% One of the Largest Banks Warns of Fines for Improper Foreclosures Ameriprise Sets Aside $40 Million for Reg D Private Placement Claims How to Help Yourself and Others About Investment Fraud Institutional Investors Bring Claims for Losses in MBD and CDO SEC Accuses Ex-Goldman Board Member of Insider Trading Goldman Sachs Says It May Lose $3.4 Billion MBIA Pays $19 Billion to Settle Toxic Debt Guarantees Securities America Sees Available Capital Nosedive by 87% A Reverse Convertible Security Warning $24 Million in Awards Against Morgan Keegan SEC Looking at Banks Restructuring Bad Loans Lehman Settles with American Eagle and Tribe for $2 Million Morgan Keegan Hammered for $200,000 Plus Punitives Minister and Anti-Fraud Crusader Pleads Guilty to Fraud An Interesting New Orleans Arbitration Case The Smith Barney Name is on its Way Out Conditions are Right for Schemers Southwest Securities Hit with a $650,000 Fine Ameriprise Stands Ready to Pay $110 Million tt Help Settle the Securities America Reg D Cases Judge Dismisses Case Against Justice Department & Sec Retired Airline Pilot Wins $2.7 Million Arbitration Case 9/11 Widow Loses Big with a Crooked Broker Morgan Keegan Loses Another RMK Bond Fund Case Wedbush Securities Gets Popped for $233,000 in Alaska Goldman Sachs Agrees to Buy Back Over $5M Worth of ARS Did SEC Negligence Cause Investor's Losses? FINRA Arbitration Statistics for February 2011 Morgan Keegan Loses and Gets Hit with Punitive Damages Securities America Settlement is Possible SEC Now Says Fiduciary Duty Rule Target Date Later this Year SEC Accuses Online Payday Loan Firms in $47M Ponzi Scheme Largest Banks Face Suits by Credit Unions Settlement Offer in Medical Capital / Provident Royalties Cas is Increased by Securities America Radio Personality Charged with Fraud FDA Chemist Charged with Insider Trading Marketing of Reverse Convertibles Targeted by FINRA Ameriprise Takes a Big Hit for Beleaguered Subsidiary SEC Approves New Discovery Guide for FINRA FINRA Expels AIS Financial, Inc. for Anti-Money Laundering Violations Wachovia to be Targeted by SEC SEC Charges Satyam Computer with Fraud for Overstating Revenue by More than $1 Billion Zuni Indian Tribe to be Compensated for Raw Deal Goldman's Abacus Problems Continue M&A Attorney Charged with Insider Trading FINRA Imposes Sanctions Firms and Individuals Who Sold Troubled Private Placements FINRA Cracks Down on Seller of Non-Traded REITs Is the SEC Too Easy on Lawbreakers? SEC Settles Client Data Breach with Gunnallen Execs Unnamed Third Person to $32.2B Insider Trading Scheme Fesses Up Revised Discovery Guide Goes Into Effect May 16, 2011 Citigroup Slammed for $2.4M in Florida Larry Hagman Reaches Settlement with Citigroup Nba Team Owners Sued by Stanford Receiver Colorado Files Cease and Desist Order Against Dallas Firm Goldman Sachs Accused of Manipulating Subprime Market Tender Offers for Non-Traded Reits Finra Panel in Houston Orders Nelsonreid to Pay $110K Finra Suspends Firm for Being Serious Risk to Investors Federal Jury Finds Farkas Guilty in $2.9 Billion Fraud Scheme Lincoln Financial Ordered to Pay Family Trust $1.76M Morgan Stanley to Buy Back $323M ARS There is No Free Lunch or Dinner for Seniors SEC Targets $7.7M Virginia Ponzi Scheme JP Morgan Has to Pay $800 Million to Settle Lehman Brothers Brokerage Claims JP Morgan to Pay Military Personnel $56M for Bad Foreclosures A.G. Edwards to Pay $755K for Annuity Sales to Elderly Morgan Keegan Slammed for $881,000 in Memphis CA Court Says Anschutz Suit Against Deutsche Bank Can Proceed Capital Financial Receives Cease and Desist Order from SEC Bank of America in a League of Its Own with MBS Mess Ameriprise Has Had Enough of Securities America Mastermind Behind $80M Ponzi Scheme Based on Fake ATMs Gets 8 Years in Prison CAP West Securities Might Go Under Illinois Broker Barred from Industry for Insider Trading Wall Street's Biggest Banks Named in $2.2 Billion Lawsuit Securities Lawsuits on the Rise for 4th Consecutive Year Popularity Eludes Wall Street Firms FINRA Fines Wells Fargo $1 Million for Delayed Prospectus Delivery Another Black Eye for UBS Citigroup and Bank of America Faced with More MBS Suits JP Morgan in Advanced Talks with SEC Over CDO Probe California Whistleblower Case Unsealed Accusing Major Firms of $137 Billion Scheme to Dupe Government Former SEC Lawyer Who Faced Suit Over Inherited Madoff Profits Rejoins Old Firm Hedge Fund Tycoon Guilty on All Counts Proequities Gets Hammered in for $1.5M in Atlanta FINRA Gives Investors Access to Disciplinary Actions FINRA Panel Orders Wedbush to Pay $750,000 in Damages Raymond James Faces $50 Million Buyback of Auction Rate Securities (ARS) SEC Issues Wells Notice to Life Partners Holdings Financier R. Allen Stanford's Trial Set for September 12th in Houston Eighth Largest Independent B-D Is Up For Sale Chicago Panel Hits AOS, Inc. with $104K Award Risk Free Private Placement Offerings to Texas Teachers Gets the Attention of Texas Regulators House Bill 274 is an Egregious Attempt by Tort Reformers Merril Lynch is Hammered for $2.5M in Indiana Ameriprise Discovers Broker Forgeries and Keeps Him Over 2 Years SEC Announces it Will Relax Rules on Private Placement Offerings Goldman to Buy Back $25M ARS and Pay $1M Fine in New Jersey Bank of America, Morgan Stanley and Goldman Sachs are Being Scrutinized for Mortgage Loan Packaging Atlanta Federal Judge Says JP Turner Was Not Required to Perform Due Diligence on Provident Royalities Offering Materials Goldman Sachs Faces Federal Subpoenas Independent Slammed for Selling DBSI Private Placements in North Carolina Nuveen is Slapped with a $3Million Fine for Use of Misleading Marketing Materials in Sales Raymond James Hammered for $1.5M in Dallas Elderly Couple Awarded $520,283 from Merrill Lynch Finra Focuses on Structured Products and Excessive Fees Investor Alert: Stock-Based Loan Programs New York Ag Ads Jp Morgan, Ubs & Deutsche Bank to Probe Securities America Reaches Medcap Private Placement Settlement with Massachusetts Provident Royalties Claims Another Independent B-D Provident Royalties Claims Another Independent B-D Morgan Keegan Loses Another Rmk Select High Income Fund Case Utah Says Bank of America Foreclosure Unit is Violating the Law Sec Passes New Whistleblower Rule Oppenheimer Settles Champion Income Fund and Core Bond Fund Suits for $100 Million Finra Fines Merrill and Credit Suisse $7.5 Million The Most Brazen Insider Trading Case Yet Bny Mellon and Wells Fargo File Suit Over Reg D Offerings Knights of Columbus Sues Bny Mellon Morgan Stanley and Bank of America to Pay $22 Million to Settle Allegations of Improperly Foreclosing on Soldiers Finra Fines Northern Trust $600,000 For Supervisory Deficiencies David Lerner & Associates Slapped with Finra Charges for Soliciting Investors to Buy Apple Reit Ten US Airways Awarded $15 Million by a New York Panel Sec & Finra Issues Joint Warning About Principal Protected Notes 76Ers Former Owner Awarded $2M Against Ubs Two More Independents Shutter Their Doors Former Wachovia Wealth Manager Steals $14.1M $400 Million Finra Award Affirmed by Second Circuit Penson Financial Services Gets Hammered For $500,000 Omni Brokerage to Shut Down Illinois Nails Couple for Preying on the Elderly Indebted Alabama County Fights Layoffs & Irs Former Credit Suisse Broker Guilty of $1 Billion Scheme Appeal of Finra Arbitration Case Before the Fifth Circuit Capital Investments – A $1 Billion Ponzi Scheme Study Shows Investors Prefer Commissions vs Fee Based Mgt Brazen Nasdaq Inside Trader Had Drug Abuse Record Caregiver Rips Off 74 Year Old for $4 Million Regions Faces Probe for Delaying Disclosure of Soured Loans Sworn Affidavit Says Bank of America Planmember Securities' Reps Face Possible Fines and Loss of Registration in Texas New Study Says Structured Products Were SEC Focuses on Role Raters Played in Financial Crisis Two More IBDs Bite the Dust for Peddling DBSI Stanford Investors Entitled to SIPA Protection Per SEC J.D. Power Survey Reveals Investor Confusion About Standard of Care SEC Zeroes in on Magnetar Mastermind Behind Longest Lasting Ponzi Scheme Gets 20 Years JP Morgan & RBS Sued for Duping Credit Unions David Lerner Associates Sued for $6.8B Apple Reit Sales Taylor Bean & Whitaker Ex-CEO Sentenced for $3 Billion Fraud JP Morgan Settles Fraud Charges for $153.6 Million Regions' Morgan Keegan Settles with the SEC for $210M and Put Up for Sale the Same Day Ohio Broker Banned by FINRA Continues to Operate JP Morgan Faces $19 Billion Claim From Madoff Trustee Fisher Investments Ordered to Pay Retiree $376K Royal Alliance Broker Ran a Ponzi Scheme for 6 Years Who Wants to Buy Morgan Keegan? SEC: Non-Traded REITs Must Disclose How They are Valued $19M Citigroup Embezzler Lives High on the Hog FINRA Panel Hits Pacific West with Compensatory Damages, Punitive Damages and Sanctions First Class is Certified in Mbs Case Against Merrill Lynch Study Reveals 78% of Investors Never Read Prospectuses Merrill Has to Pay $880K for Concentration in Phil Scott Team Income Portfolio Merrill Lynch Professional Clearing is Hit with a Mammoth Award of $64 Million Bank of America’s $8.5B MBs Settlement is the Largest by Any Firm Another Small IBD Folds Due to a $200K Arbitration Award Deutsche Bank is Sued by Dexia for MBS Fraud FINRA Panel Orders Wedbush to Pay Former Broker $3.5M in a Scathing Award Goldman Sachs is Sued by Liberty Mutual for Securities Fraud JP Morgan Agrees to Settle Fraudulent BID Rigging Charges by SEC for $228 Million Nevwest Securities Hit with $1.78M FINRA Award Raymond James Settles ARS Case with Texas for Just Under $300,000 Wells Fargo Agrees to Pay $125M to Settle MBS Claims Auction Rate Securities (ARS) Investors May Be Helped by SEC Brief Suntrust is Fined $5M by FINRA for Violations Related to the Sale of Auction Rate Securities (ARS) Investor Alert: FINRA Warns About Chasing Yield with Structured Products, Junk Bonds and Floating Rate Bank Loan Funds NCUA Sues RBS Securities Again in Another MBS Case Merrill Lynch Gets Popped for $291K Morgan Stanley, Ameriprise & UBS Receive Subpoenas Regarding the Sale of Reverse Convertibles in Georgia $100M Settlement Reached in Oppenheimer Funds Case DOJ Targets Wells Fargo For Discriminatory Lending Practices Jefferson County Alabama Hires Bankruptcy Attorney Merrill Lynch Gets Handed an $8.1M FINRA Award Raymond James Tries to Get Out of Paying a $1.7M Award FINRA Files Complaint Against Thurman Ray Former Citigroup Broker Who Represented Wealthy Mexicans is Barred From the Industry Capwest May Be Another Victim of Private Placements SEC Investigation Discovers That Investors Were Steered Into Complex Products By B-Ds Former Frontpoint Manager Pleads Guilty to Insider Trading Securities America Finally Has a Buyer FINRA Suspends and Fines Robert T. Bunda for “Spoofing” SEC Charges New Yorker and Two Houston Firms with Fraud U.S. Justice Department and SEC Join Together in Massive Probe of Credit Rating Firms Goldman is Sued by Allstate Insurance Over Mortgage Backed Securities (MBS) FINRA Fines Houston Firm and Registered Principal Former Credit Suisse Broker Gets 5 Years in Prison and a $5M Fine Morgan Keegan Hammered for Over $500K FBI Charges Former NBA Player with Running a $2M Ponzi Scheme Man Who Helped Bring Down Gunnallen Goes to Prison Ex-Con Has Investor Following on the Internet LPL Financial Snares a Top FINRA Official FINRA Orders Raymond James to Pay $1.69 Million SEC Says Long Island Adviser Stole Over $1 Million Miami Manager Nailed in $3M Commodities Scam Regulators Focusing On SEC Shifts Gears to Catch More Wrongdoers Government Report Says Fannie Mae Knew About Improper Foreclosures as Far Back as 2003 Wachovia & Raymond James to Buy Back $457M Ars and Pay $3.26 M Fine to Settle New Jersey Allegations Merrill Fined $1M for Failing to Supervise Santo Office A Very Interesting Dissenting Opinion Queens Man is Sent to Prison for 25 Years for $413M Scam Societe Generale Ordered to Pay Fund Manager $61M Citi to Pay $285M for Creating CDO and Betting on Its Failure Boogie Becomes the 20th Indie to Shutter Due to Provident/Med Cap Another Black Eye for a Former NAPFA President Galleon Founder Gets 11 Years for Insider Trading Life Settlement Scheme Puts Two Texans Away for 105 Years Lerner Associates Paid Promised Returns with Borrowed Money Sec: Ex-Con Uses $26M Ponzi Scheme to Pay Off Prior Victims FINRA Arbitrator Denies Claim and Assesses Atty Fees Countrywide Keeps on Giving to Bank of America “Challenging Economics” Forces Edelman Out Forex Ponzi Schemer Sentenced to 10 Years Mortgage Restructuring Scheme Uncovered by SEC Elderly Investors Continue to be Targets of Scams Broker Who Did Not Settle Gets Popped for $488,260 FINRA Fines UBS $12M for Short Sale Supervisory Failures Former Goldman Director Surrenders to Feds for Insider Trading Morgan Keegan May Go For $1 Billion and Regions Offers $200M to Help Finance the Deal Brokerage Firms Lose $2 Million in “Free Riding” Scam SEC Orders FINRA to Hire Independent Compliance Consultant Suit Says Goldman Sachs Sold MBS and Was Betting on Failure Bank of America Subpoenaed by Massachusetts Over Bryn Mawr CLO II Ltd. and LCM VII Ltd. CLOs that Cost Investors $150 Million MF Global Holdings Developments Precious Metal Investments Former LPL Financial Broker Alberto Neira Significant Award Against RBC Capital Markets, LLC Oppenheimer Continues to Show Serious Supervisory Deficiencies Tracey Crownover Larry Dearman, Senior Interactive Brokers LLC in Australia Officers and Employees of DBSI Inc. Indicted Puerto Rico Bonds Removed From Municipal Bond Index Bonos de Puerto Rico Excluidos del Índice de Bonos Municipales Warning to UBS Puerto Rico Clients with Credit Lines Advertencia a los clientes de UBS Puerto Rico con Líneas de Crédito FINRA Arbitration Panel Issues Award Against Joel Carlson Shepherd Smith Edwards & Kantas LLP Investigating Claims Involving Doral Bank and the Puerto Rico Conservation Trust Fund Los Abogados de Valores del Bufete de Shepherd Smith Edwards & Kantas LLP Investigan Reclamaciones Relacionadas con Doral Bank Shepherd Smith Edwards & Kantas LLP Files Claims Involving Mark Marek, Willard Golightly, Matt Bell, WFG Investments INC., Securities America, INC. and Alamo Asset Advisors Morgan Stanley Reaps Massive Profits from Margin Lending Shepherd Smith Edwards & Kantas LLP Investigating Claims Involving Donna Tucker and UBS Financial Services Houston American Facing Regulatory Scrutiny Oppenheimer Continues to Bleed From Regulatory Investigations Numerous Brokers Disciplined for Theft Brokerage Firms Disciplined for Overcharging Customers FINRA Disciplines Brokers and Brokerage Firms for Improper Sales of Life Insurance Products SSEK Investigating Claims Against Meyers Associates SHEPHERD, SMITH, EDWARDS & KANTAS LLP FILES CLAIM AGAINST THE GMS GROUP, LLC AND ADVISOR PAUL MANTE OVER PUERTO RICO BOND SALES Boca Raton, Florida – January 9, 2017 Jason Anderson Suspended by Texas State Securities Board Former Morgan Stanley brokers James Polese and Cornelius Peterson Face Ongoing Charges of Fraud SSEK Investigating Claims Related to Liquidations in XIV
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