According to the Investment News, four firms are managing high-yield municipal bond funds with more than 40% of their assets invested in non-rated bonds, a red flag for investors, according to a muni bond expert. Invesco tops the list of the firms carrying non-rated bonds. More than 64% of the Invesco High Income Municipal Bond [...]
According to CBS New York, a former Connecticut securities broker faces sentencing for stealing more than $1.35 million from his clients. Gregory Buchholz of Bridgewater is scheduled to be sentenced in federal court in Bridgeport. He pleaded guilty to wire fraud. Prosecutors say the 45-year-old Buchholz liquidated clients’ annuities and mutual funds and kept the [...]
Merrill Lynch recently agreed to pay a $10 million fine to settle civil securities fraud charges by regulators who accused the firm of misusing customers’ order data to make trades for its own account and for failing to disclose trading fees. The Securities and Exchange Commission announced the settlement with Merrill Lynch, which was acquired [...]
The Financial Industry Regulatory Authority (FINRA) Investor Education Foundation and the National Football League (NFL) recently announced that they are working together to help incoming NFL players spot and avoid investment fraud and begin their playing careers by making informed financial decisions. This joint FINRA Foundation/NFL initiative will reach prospective NFL players and their families. [...]
Have you suffered investment losses in the Cole Credit Property Trust REIT? The White Law Group may be able to help. The White Law Group is investigating potential securities fraud claims on behalf of investors who purchased risky REIT investments like Cole Credit Property Trust REIT at the recommendation of their financial advisor or brokerage [...]
Have you suffered investment losses in the Lightstone Value Plus REIT? The White Law Group may be able to help. The White Law Group is investigating potential securities fraud claims on behalf of investors who purchased risky REIT investments like Lightstone Value Plus REIT at the recommendation of their financial advisor or brokerage firm. FINRA [...]
Private Placements have become a hot button issue for FINRA regulators and securities attorneys representing investors. The number of private placement cases has spiked considerably over the past few years in large part because of the sizable commissions brokerage firms generate from selling private placements. We are currently handling numerous cases involving private placement investments [...]
RANK Broker-dealer Total gross revenues 1 LPL Investment Holdings Inc. $2.8B • LPL Financial One Beacon St. Boston, MA 02108 joinlpl.com (888) 250-2420 $2.6B • Uvest 2810 Coliseum Centre Drive Charlotte, NC 28217 uvest.com (800) 277-8802 $195.2M 2 Ameriprise Financial Services Inc. 108 Ameriprise Financial Center Minneapolis, MN 55474 ameriprise.com (612) 671-3131 $2.0B 3 Raymond [...]
The White Law Group is investigating potential claims on behalf of investors who invested in the 1861 Capital Management municipal arbitrage fund. The municipal bond arbitrage strategy employed by this fund was risky and exposed investors to significant losses. It appears that 1861 Capital Management Fund was marketed to clients as a fixed income product [...]
FINRA is requesting comment on a proposal to amend FINRA Rule 5122, which requires, subject to certain exemptions, disclosure in the offering document of the intended use of offering proceeds, expenses, and the amount of selling compensation to be paid to the broker-dealer and its associated persons, in any private placement in which a participating [...]