The market volatility of the first half of February of this year has seen small investors lose hundreds of millions of dollars in VIX ETF’s they should never have been invested in the first place. These unsuitable VIX ETF’s and investments include: VelocityShares Daily 2X VIX Short-Term ETN (TVIX) ProShares Short VIX Short-Term Futures (SVXY) […]
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Insurance Department Regulation No. 60 Violations Harm New York State Investors
New York State Investors who have purchased insurance contracts have been subject to unnecessary requirements imposed by replaced insurers on replacing insurers. This fraudulent tactic includes the improper, suggested requirement of the provision of non-required documents and information purportedly needed to complete a Disclosure Statement as required under Department Regulation No. 60. Unfortunately, replaced insurers […]
Read PostSEC Suggests Adult Protective Services (APS) Workers to Protect Seniors From Investment Fraud and Victimization
In an investment alert dated May 9, 2017, the SEC Office of Investor Education and Advocacy suggested steps for Adult Protective Services (APS) workers and others on how to assist and prevent senior victimization of investment fraud. The investment alert particularizes a checklist of tell-tale signs of possible fraud, (such as high pressure sales tactics, guaranteed […]
Read PostBrokerage Firms Abandon Small IRA Account Customers With the Emergence of the Fiduciary Rule – An Accident Waiting To Happen?
The recently enacted Fiduciary Rule requires that brokerage firms managing the accounts of IRA customers are required to adhere to a prudent man/prudent investor investing guidelines in order to project IRA accounts from unnecessary losses due to stock market volatility, downturns and risky investments. These initiatives, in turn, have seen brokerage firms require that all […]
Read PostFINRA Releases Regulatory Notice Warning Member Firms of Volatility-Linked Exchange-Traded Products
In Regulatory Notice 17-32 , FINRA recently articulated the grave risks to investors regarding the sale of Exchange Traded Products. Typically, these products are linked by tracking short and mid-term VIX future indexes – a very risky and volatile investment and surely not a safe investment for the average investor. Exchange Traded Products have resulted in […]
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