Posts tagged ‘UBS’
Chicago Securities Fraud / Investment Fraud Lawyer
Are you seeking to recover investment losses incurred as a result of the fraud or negligence of your financial professional or brokerage firm? The White Law Group may be able to help.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
The White Law Group exclusively represents investors seeking to recover investment losses incurred as a result of the fraud or negligence of their financial professional or broker-dealer. We review investment fraud cases involving all FINRA registered broker-dealers and have handled cases against most of the major broker-dealers, including Morgan Stanley, Wachovia, Wells Fargo, Banc of America, Merrill Lynch, Smith Barney, UBS, Edward Jones, Raymond James, Securities America, Royal Alliance, RBC Capital and Ameriprise.
The securities cases we review often involve some form of the following type of securities fraud: unsuitability, churning (or excessive trading), unauthorized trading, failure to execute, improper use of margin, and overconcentration (holding off an inordinately large position of one investment).
We review tons of securities cases per year involving all manner and scope of securities frauds, but it seems that many of the cases that we review often involve the same general types of investment products. Interestingly, these investment products are also the same products that pay financial advisors the highest commission. The investment products that we most see being abused in reviewing securities fraud cases are cases involving REITs, variable annuities and variable universal life policies, Promissory Notes, Tenants-In-Common (TICs), and mutual funds (particularly proprietary mutual funds – when a brokerage firm pushes its own mutual funds (i.e. a UBS financial advisor recommending UBS mutual funds)).
To speak to an experienced securities attorney, please call The White Law Group at 312-238-9650. For more information on the firm, please visit our website at http://www.whitesecuritieslaw.com.
Chicago Securities Fraud / Investment Fraud Attorney
Are you seeking to recover investment losses incurred as a result of the fraud or negligence of your financial professional or brokerage firm? The White Law Group may be able to help.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
The White Law Group exclusively represents investors seeking to recover investment losses incurred as a result of the fraud or negligence of their financial professional or broker-dealer. We review investment fraud cases involving all FINRA registered broker-dealers and have handled cases against most of the major broker-dealers, including Morgan Stanley, Wachovia, Wells Fargo, Banc of America, Merrill Lynch, Smith Barney, UBS, Edward Jones, Raymond James, Securities America, Royal Alliance, RBC Capital and Ameriprise.
The securities cases we review often involve some form of the following type of securities fraud: unsuitability, churning (or excessive trading), unauthorized trading, failure to execute, improper use of margin, and overconcentration (holding off an inordinately large position of one investment).
We review tons of securities cases per year involving all manner and scope of securities frauds, but it seems that many of the cases that we review often involve the same general types of investment products. Interestingly, these investment products are also the same products that pay financial advisors the highest commission. The investment products that we most see being abused in reviewing securities fraud cases are cases involving REITs, variable annuities and variable universal life policies, Promissory Notes, Tenants-In-Common (TICs), and mutual funds (particularly proprietary mutual funds – when a brokerage firm pushes its own mutual funds (i.e. a UBS financial advisor recommending UBS mutual funds)).
To speak to an experienced securities attorney, please call The White Law Group at 312-238-9650. For more information on the firm, please visit our website at http://www.whitesecuritieslaw.com.
Securities Fraud Investigation Involving 1861 Capital Discovery Domestic Fund
The White Law Group is investigating possible securities fraud involving the marketing and sale of the 1861 Capital Discovery Domestic Fund.
Specifically, we are investigating whether brokerage firms, including UBS, misrepresented the safety and security of the 1861 Capital Discovery Domestic Fund.
1861 Capital Management, the firm that created the 1861 Capital Discovery Domestic Fund, is a municipal arbitrage hedge fund. Its focus is on municipal arbitrage and attempting to take advantage of differences between municipal bonds and other types of debt, including Treasury securities and corporate bonds.
Municipal bond arbitrage generally consists of building a leveraged portfolio of tax-exempt municipal bonds and simultaneously hedging the duration risk in that municipal bond portfolio by shorting other debt instruments. Such hedging is often referred to as interest rate swaps. Obviously, this complex strategy is not without risk as the trading is typically highly leveraged – increasing the downsize loss potential.
Notwithstanding the risks of the 1861 Capital Discovery Domestic Fund, it appears that the investment was marketed and sold by UBS and other broker dealers as a safe, secure, and low-risk municipal bond portfolio. It further appears that these brokerage firms, in marketing 1861 to investors, targeted high net worth individual investors who were generally risk averse, took a conservative approach to investing and were interested in the safety and security offered by tax free municipal bonds.
If you have any information that may assist The White Law Group in its investigation into the sale of the 1861 Capital Discovery Domestic Fund, please contact the firm’s Chicago, Illinois office at 312-238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.
Securities Fraud Investigation Involving CIT InterNotes
The White Law Group is investigating securities fraud claims on behalf of investors involving CIT InterNotes.
The sale of CIT InterNotes to individual retail clients resulted from institutional investors growing reluctance to lend to CIT Group Inc. as they became increasingly aware of CIT’s deteriorating financial condition. By selling to individual retail clients, CIT was able to effectively offload risk to individual investors.
CIT Group issued these debt instruments and they were marketed by brokerage firms to the general public as low risk and conservative. A key selling point of the CIT InterNotes was the “death put” feature (also known as the “survivor’s option”). This provision allowed the heirs of a bondholder to sell the bond back to the issuer at face value when the bondholder died. However, this “benefit” is contingent upon CIT’s continued financial health which, given CIT’s collapse, may have rendered the death put valueless.
While these investments appealed to many elderly and retired investors (because of the alleged safety and the “survivor’s option”), the investments were not suitable for retired investors and many investors have suffered catastrophic losses.
The sales of the CIT InterNotes by brokerage firms are now under scrutiny by FINRA. Specifically, FINRA is examining the sales practices of brokerage firms who sold CIT Internotes to their customers to determine whether the proper risk disclosures were made.
Various brokerage firms marketed and sold CIT InterNotes to investors including Banc of America, Incapital, Wachovia Securities, Wells Fargo Advisors, Edward Jones, UBS, RBC Capital Markets, Morgan Stanley, Bear Stearns, JPMorgan Chase, Citigroup, Merrill Lynch, and Raymond James.
If you have questions regarding CIT InterNote investments you made, or if you believe that you have been the victim of a securities fraud, The White Law Group may be able to help. The White Law Group is a national securities fraud, securities arbitration and investor protection law firm with offices in Chicago, Illinois and Boca Raton, Florida. The firm has over 30 years of experience reviewing securities fraud claims throughout the country. To contact the firm, please call 312-238-9650.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.
Investigation Into Possible Securities Fraud Involving Former UBS Financial Advisor Stephen Weatherly Of
The White Law Group is investigating a possible securities fraud claim on behalf an West Memphis, Arkansas investor involving former UBS Financial Services financial advisor Stephen Weatherly.
Specifically, we are investigating whether Mr. Weatherly improperly recommended that the retired investor invest a significant portion of his life savings in a AXA variable annuity. Not only did the variable annuity lock up the investor’s money (because of the high surrender charges), but it paid a substantial commission to the broker – which was likely his motivation in recommending it.
According to his FINRA Broker Reports (CRD), Stephen Weatherly is currently a registered representative with Merrill Lynch in Germantown, Tennessee. In addition to working at Merrill Lynch and UBS, he has also worked as a stockbroker at Wachovia Securities and Prudential.
If you have any information that may assist The White Law Group in its investigation, please contact the firm’s Chicago, Illinois office at 312-238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions.
For more information on The White Law Group, please visit our website at http://www.whitesecuritieslaw.com.