Recently warnings from the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) siting the dangers of leverged ETFs and inverse ETFs (exchange-traded funds). These funds are extremely complex products that carry a great deal of risk. Soreide Law Group, PLLC, has launched an investigation into these funds. It is noted that ETFs are […]

It was announced that the Securities and Exchange Commission (SEC) issued a Wells notice to UBS regarding secondary market trading of closed-end funds sold in Puerto Rico in 2008 and 2009.  USB sold $2.9 billion in bonds in 2008. UBS was a former financial adviser to Puerto Rico's Employees Retirement System that provides pensions for […]

In an October 2nd, 2011, InvestmentNews.com article, Bruce Kelly writes that stockbrokers who sell products that promise high returns without the approval of their broker-dealers once again have become a leading concern for state securities regulators. This practice is known as “selling away,” and is one of the most common difficulties that independent and franchisee broker-dealers face in […]

In a September 29, 2011 article in the InvestmentNews.com, Andrew Osterland writes that the Securities and Exchange Commission (SEC) filed charges against unregistered Long Island investment adviser Corey Ribotsky for allegedly lying about the performance of his investment strategies and stealing more than $1 million from one of the hedge funds he managed. According to the […]

Soreide Law Group, PLLC, is currently investigating the NewTom Group, Inc.,  private placement offered through Rockwell Global Capital.   NewTom Group was marketing a 12% return for the purchase of the NewTom Series A Convertible preferred shares. NewTom Group is the holding company for a chain of restaurants doing business under the name Pomodornio Ristorante […]

In  a September 30th., 2011 article from InvestmentNews.com, Darla Mercado writes that the Commodity Futures Trading Commission today charged a Miami man with fraud  and other allegations, claiming that he ran a phony $3 million commodity pool. It was announced that Oscar Hernandez, and his companies Midway Trading Co. LLC and Conquest Investment Group Inc. are […]

Soreide Law Group, PLLC, has filed ten FINRA arbitrations against Rockwell Global Capital, LLC, for their involvement in the sale of the Simply Fit Beverage Company's private placement. Rockwell Global Capital acted as the placement agent for the $3,000,000 offering of Simply Fit. Simply Fit was a beverage company located in Pompano Beach, Florida. Most all […]

WASHINGTON —On FINRA's website, it was announced that the Financial Industry Regulatory Authority (FINRA) has fined Northern Trust Securities $600,000 for deficiencies in supervising sales of collateralized mortgage obligations (CMOs) and failure to have adequate systems in place to monitor certain high-volume securities trades. The article said that FINRA found from October 2006 through October 2009, Northern […]

WASHINGTON — It was announced on FINRA's website that The Financial Industry Regulatory Authority (FINRA) has fined Southwest Securities, Inc., of Dallas, $650,000 for deficiencies in due diligence, risk assessment and written supervisory procedures that permitted one of its correspondent firms, Cutler Securities, to create risk for Southwest through improper short sales. FINRA also required Southwest […]