Category: General
Oppenheimer Fined for Unsuitable Sales of Exchange Traded Funds (ETFs)
The Financial Industry Regulatory Authority (FINRA) announced on June 8, 2016 that it fined Oppenheimer & Co., Inc. $2.25 million and ordered the firm to pay restitution of more than $716,000 to customers who were sold leveraged, inverse and inverse-leveraged exchange-traded funds. The essence of the complaint filed by FINRA was that these risky ETFs […]
Read PostFINRA Issues Investor Alert on Non-Traded REIT’s
In a recent investor alert, the Financial Industry Regulatory Authority (FINRA) issued an Investor Alert warning investors of the problems associated with non-traded Real Estate Investment Trusts (REIT’s). The investor alert noted that these investments could be plagued with numerous problematic features including the following: Illiquidity and inability to sell these holdings given the lack […]
Read PostSEC Issues Investor Alert for Seniors – Five Red Flags of Investment Fraud
In an investor alert and bulletin dated July 18, 2016, the United States Securities and Exchange Commission Office of Investor Education and Advocacy noted the following red flags to help senior investors identify possible fraudulent schemes which have been targeting seniors. These include: Unregistered and unlicensed sellers Promises of higher returns with little or no […]
Read PostKey Discovery Rule Decision in Aronstein v. Massachusetts
Key Discovery Rule Decision in Aronstein v. Massachusetts Mutual In a Decision handed down on April 22, 2016, the Honorable Mark G. Mastroianni, United States District Judge, for the District of Massachusetts, upheld the right of an investor, in a class action lawsuit against Massachusetts Mutual Life Insurance Company, to proceed with his underlying claims […]
Read PostThink Twice Against Borrowing Against Your Pension
The New York State Department of Financial Services (DFS) and the Consumer Financial Protection Bureau (CFPB) have initiated action against two companies involved in soliciting pension advance loans from unsuspecting consumers. The suit against Pension Funding, LLC and Pension Income, LLC alleges that the companies deceived individuals into taking loans against their pensions, hiding high […]
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