Have you suffered investment losses in a Waveland Oil and Gas Investment? The White Law Group may be able to help. The White Law Group is investigating potential securities fraud claims on behalf of investors involving various broker-dealers’ recommendation that investors purchase risky oil and gas partnerships like Waveland Oil and Gas. Before recommending an [...]
According to the Investment News, Ameriprise Financial Inc. is taking preliminary steps to help its beleaguered independent broker-dealer subsidiary, Securities America Inc. On Friday, Securities America’s chief financial officer, Kelly Windorski, testified in a federal court in Dallas that the firm could go bust if a federal judge did not approve a $21 million class action [...]
ANNE MARIE SCHLENKER was a financial adviser representative and salesperson for Edward Jones and Company in Bozeman, Montana, from May 31, 2004, until her fraud was discovered in February 2010. SCHLENKER used her position at Edward Jones to misappropriate $329,682.15 of client money for her own personal use from October 18, 2006 to November 16, [...]
According to the Investment News, Morgan Stanley Smith Barney, the largest brokerage in the United States, will lay off between 200 to 300 adviser trainees and low volume producers in the firm’s advisory force by the end of the month. Another source from Morgan Stanley confirmed the story, but added that the culling of weaker [...]
Have you suffered investment losses in the KBS REIT? The White Law Group may be able to help. The White Law Group is investigating potential securities fraud claims on behalf of investors involving broker-dealers recommendation that investors purchase risky REIT investments, including KBS REIT. FINRA recently announced that it is paying close attention to the [...]
The White Law Group is investigating potential securities fraud claims on behalf of investors involving broker-dealers recommending that investors invest in inappropriate oil and gas / energy partnerships and highly speculative private placement investments. Oil and gas partnerships and private placements are generally risky ventures that are only appropriate for sophisticated investors. Unfortunately, because of [...]
According to the Sun Sentinel, U.S. Rep. Ted Deutch recently unveiled proposed legislation aimed at protecting the elderly from financial scams. Deutch, D-Boca Raton, has submitted two bills that call for stiffer fines for fraudsters who prey on the elderly as well as the creation of an office within the Federal Trade Commission that will [...]
According to the Investment News, Ameriprise Financial Inc. has announced that it is setting aside $40 million in legal reserves for class actions and legal claims arising from the sale of allegedly bogus private placements by its independent broker-dealer subsidiary, Securities America Inc. The reserves relate to sales of Medical Capital Holdings Inc. and Provident Royalties [...]
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 the Investment News, yet another independent broker-dealer is closing shop, this time due to the burden of compliance and regulatory costs. Ensemble Financial Services Inc., located in downtown Manhattan, will shut down soon, confirmed officials for the firm. Meanwhile, its 85 registered representatives are in the process of moving to Invest Financial Corp., one [...]