Stifel Nicolaus & Co., a brokerage firm, and its subsidiary, Century Securities Inc., must pay fines and restitution of over one million dollars to settle Financial Industry Regulatory Authority (“FINRA”) charges concerning alleged unsuitable sales of leveraged exchange-traded funds (“ETFs”) to customers. FINRA alleged that Stifel and a subsidiary sold leveraged and inverse ETFs to…
Continue reading ›En un artículo recientemente publicado por Craig McCann, preguntó si UBS había cobrado demasiado por los bonos emitidos en Puerto Rico. Según McCann, UBS ha dicho que no se podían identificar cuales ventas listadas en la información suministrada por EMMS eran ventas de bonos y que, como UBS no estaba suministrando la información, no se…
Continue reading ›Los fondos de bonos puertorriqueños invirtieron en deuda puertorriqueña hasta 140% por medio de apalancamiento. Este uso tan extremo de apalancamiento ha intensificado el decline reciente de los fondos. Ahora estos inversionistas, no solo se preocupan de perder una gran parte de sus inversiones, sino que se preocupan que Puerto Rico incumpla sus obligaciones y…
Continue reading ›Securities fraud attorneys are investigating claims on behalf of customers who suffered significant losses in non-traded REITs as a result of doing business with Gary Chackman, an LPL Financial broker. In December, the Financial Industry Regulatory Authority barred Chackman for violating securities industry rules related to the sales of non-traded real estate investment trusts. The…
Continue reading ›Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses as a result of investing in managed-futures funds offered by Morgan Stanley Smith Barney (MSSB). MSSB subsidiaries Merrill Lynch Alternative Investments LLC and Ceres Managed Futures also are being investigated, among others. According to a recent Bloomberg article, U.S. Securities…
Continue reading ›Two former JP Morgan Chase Securities Inc.-registered brokers, Fernando L. Arevalo and Jimmy E. Caballero are the subjecct of regulatory charges alleging theft. Reportedly, the Financial Industry Regulatory Authority (FINRA) permanently barred both Caballero and Arevalo from the securities industry. FINRA’s investigation of the two brokers found that they allegedly collaborated to steal approximately $300,000…
Continue reading ›Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses in inverse and leveraged exchange-traded funds or ETFs. Inverse and leveraged exchange-traded funds are supposed to meet daily objectives. As a result, their performance can drop rapidly relative to the underlying index or benchmark. According to securities arbitration lawyers, even…
Continue reading ›Securities fraud attorneys are currently investigating claims on behalf of the clients of UBS Financial Services Inc. and David Lugo. Lugo allegedly made unsuitable recommendations and misrepresentations of Puerto Rico municipal bonds and UBS proprietary Puerto Rico municipal bond funds. In one claim already filed by stock fraud lawyers, the claimant, one of Lugo’s clients,…
Continue reading ›Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses as a result of doing business with CRL Management LLC and Charles R. Langston III. Langston, a hedge fund manager, conducts business with Miami-based CRL Management. In October, a lawsuit was filed against both he and the firm, alleging fraudulent…
Continue reading ›Securities fraud attorneys are currently investigating claims on behalf of investors who have suffered significant losses because their broker, adviser or firm did not notify or obtain their permission before executing trades on their account. According to the Securities and Exchange Commission, Parallax Investments LLC and Tri-Star Advisors allegedly executed thousands of transactions through their…
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