“A 50-year-old Harlem educator is giving her UBS broker failing grades after she lost $400,000 from her Puerto Rico muni bond fund.” Source: The New York Post Read more
Monthly Archives: April 2014
Municipal bonds used to be conservative investments sold to Mom-and-Pop, buy and hold retail investors to put under their mattresses for years or even decades. Muni bonds were sold as stable, long-term investments with the clear advantage of generating tax-free income. That is no longer the case. The $3.5 billion […]
A wave of FINRA arbitration is sweeping Puerto Rico and southern states in the US as the fallout from the collapse of Puerto Rican municipal bonds begins. Read More.
U.S. Attorney and FBI have interviewed people of interest , the FICO stands a historic drop in these investments and securities lawyers insist that the situation is not the result of individual actions of brokers “All these allegations closed mutual funds are virtually identical. They are elderly, disabled withdrawn .” […]
Michael Lewis’s new book “Flash Boys” has exposed high frequency trader networks that jump ahead of stock orders from investors and make tiny profits on hundreds of thousands of trades throughout a routine day on Wall Street. Those tiny trades, executed much more quickly than a blink of an eye, […]
Believe it or not, the tiny U.S. island territory of Puerto Rico has a higher legal standard for financial advisors than the SEC requires on the mainland. Puerto Rico has a law that imposes a “fiduciary duty” for financial advisors to follow. That means advisers must act in the client’s […]