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“[C]heck the background of anyone selling or offering [you] an investment. No matter how good an investment may sound, verify that the person is currently registered or licensed and check his or her background.” This advice comes from the Securities and Exchange Commission (SEC), the federal agency responsible for overseeing […]
LPL Financial, the largest independent securities brokerage firm in the United States, recently agreed to pay up to $26 million in fines for the sale of unregistered and non-exempt securities. The multi-million-dollar settlement is the result of an investigation conducted by the North American Securities Administrators Association (NASAA), which is […]
Thousands of Puerto Rico residents have filed investment fraud cases against UBS, Santander, Banco Popular and Oriental. Given the pain those investors are suffering in the aftermath of the collapse of Puerto Rico’s bond market, it’s hard to believe, but Puerto Rico could teach the Securities and Exchange Commission about […]
After the tech and telecom stock bubble burst in 2000, analysts at investment banks who hyped such failures as Pets.com and WorldCom were proven to be major culprits. Indeed, stock analysts at the time publicly praised tech and telecom companies in research reports, which brokers then used to sell shares to […]
In the years leading up to Puerto Rico’s bond crisis, evidence from multiple sources pointed to investment banks like UBS as major culprits in the island territory’s financial collapse. While these banks have fought back against allegations of impropriety, they have been largely unsuccessful in avoiding liability in FINRA arbitration, […]
Two recent examples of Wall Street’s abuse of its customers prove that Wall Street still doesn’t get it. The customer comes first, not the firm or the broker. It’s no wonder that first up is Wells Fargo, which has been dogged for almost two years with repeated scandals, all revealing a […]
Those who are investing in Bitcoin and other cryptocurrencies need to carefully watch regulatory actions and, often, should pay close attention to opinions shared by regulators that could provide hints as to the future of the cryptocurrency market. A cryptocurrency lawyer can provide more insight into changes in the law […]
Investing in virtual currencies such as Bitcoin can be lucrative if you invest at the right time and understand the investment you are making. However, there is also a big risk to cryptocurrency investing. Many people want to take the risk because of the potential for substantial returns as the […]
The Financial Industry Regulatory Authority (FINRA) recently announced that Fifth Third Securities has agreed to pay $6 million in fines and restitution for disclosure violations and fraudulent investment recommendations. While consenting to the entry of FINRA’s findings, Fifth Third Securities neither admitted nor denied the charges against it. According to […]
A recent, questionable deal by the Wall Street behemoth, Blackstone has shaken investor confidence in the markets. For months now, the Wall Street Journal has been reporting on a shady deal between Blackstone and Hovnanian Enterprises. One of the largest asset managers in the world, Blackstone offered Hovnanian a low-cost […]