Tim O'Connor's Blog

A number of brokerage firms have sold reverse exchangeable securities, also known as reverse convertibles, to retail investors. These structured products, promising high yields, are often difficult for the average investor to understand and are loaded with risks. In Regulatory Notice 10-09, the Financial Industry Regulatory Authority (FINRA) noted the complexity of these products, which […]

The Office of the Whistleblower of the Securities and Exchange Commission (hereafter “SEC”) established a whistleblower program on July 21, 2010 as a part of the Dodd-Frank Wall Street Reform and Consumer Protection Act signed by President Obama on July 21, 2010. The SEC Office of the Whistleblower hosts Frequently Asked Questions (www.SEC.gov/whistleblower). The whistleblower […]

Massachusetts Senator Elizabeth Warren sent a letter on Tuesday, April 26, 2015, to a number of large insurance companies, including MetLife, Inc., American International Group, Inc., Pacific Life Insurance Company, Allianz SE, U.S. Life division, TIAA-CREF New York Life Insurance, Prudential PIC, Nationwide Mutual Insurance Company, Jackson National Life, Riversource Life Insurance Co., Security Benefit […]

The Office of Investor Education and Advocacy of the United States Securities and Exchange Commission recently issued an Investor Bulletin entitled, “15 Investment Tips for 2015.” The Bulletin highlights a number of suggestions and warnings, including the following: Check the background of your investment professional – it’s easy and free. For investment advisors: For FINRA’s […]

On February 3, 2015, FINRA issued an investor alert, entitled “Cybersecurity and Your Brokerage Firm,” outlining the essential questions investors should ask that brokerage firms regarding the safeguarding of their personal information and assets. The alert cautions investors to be aware of security steps associated with password and PIN numbers and the need to safeguard […]