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Stock fraud takes many forms and is not always easy to identify. However, as a general rule, if you have suffered a loss of a substantial portion of your portfolio, it is time to start asking questions. With a properly-managed account, large losses should only occur in the rarest of […]
If Puerto Rico bonds were a runaway train in some Hollywood thriller, by now they definitely would be heading straight for a collision. First, Fitch Ratings, one of the key bond ratings agencies, cut its rating on Puerto Rico two notches deeper into junk territory near the end of March, […]
When choosing the person who will be responsible for protecting and growing the money you have spent a lifetime accumulating, it goes without saying that it needs to be someone you can trust. There are plenty of experienced, savvy and reliable stock brokers to choose from. But, steering clear of […]
An advisory committee for the Securities and Exchange Commission now wants to expand the pool of “accredited” investors to allow more people to get into high risk private investments. It’s a move that could help Wall Street banks boost profits at the expense of investors. Wealthy investors become accredited when […]
On the heels of its agreement to pay $109 million to settle claims that it provided illegal “kickbacks” to doctors in exchange for prescribing and selling an arthritis medication, Sanofi is facing yet another allegation of violating federal “anti-kickback” laws. This time, a whistleblower lawsuit alleges that the pharmaceutical giant’s […]
President Obama recently offered a proposal that would raise investment advice standards for brokers working with retirement accounts. The President directed the Department of Labor – DOL – to move ahead with a rule that would extend the definition of “fiduciary” to more advisers of 401(k) and individual retirement accounts. […]
It’s not often that federal and state securities regulators are on opposite sides of an issue regarding investor protection. But that’s the case with regards to the Securities and Exchange Commission proceedings which will decide whether to approve or strike down a FINRA plan to revamp its regulation of equity […]
The economy of Greece is teetering, and its government is working feverishly to avoid a full-scale implosion. On Monday night, Greece’s government submitted a list of awaited reform proposals that its partners in Europe, namely Germany, had demanded in exchange for continuing to fund the country for another few months, […]
As Wall Street profits get squeezed from engaging in less risky activity, they are making up the revenue by upping the fees for their clients. Because of new industry rules put into place after the financial crisis, big Wall Street banks can no longer run their own hedge funds or […]
Following the financial crisis, Congress passed Dodd-Frank. The legislation authorized the Securities Exchange Commission to enact rules for a “fiduciary duty standard” in which stock brokers, at firms like Merrill Lynch and UBS, would be required to put the customer’s interest first. This fiduciary standard stands in sharp contrast with […]