The Financial Industry Regulatory Authority (FINRA) fined the Royal Bank of Canada (RBC) $1-million and ordered RBC to pay approximately $434,000 in restitution for improper sales of structured investment products to more than 200 investors. According to FINRA, from January of 2008 through December of 2010, RBC’s capital-markets unit failed to adequately supervise 99 of […]

Soreide Law Group is currently investigating UBS Financial Services (UBS) in the sale of UBS V10 Enhanced FX Carry Strategy. UBS is one of the largest FX dealers and was recently under investigation by Switzerland's regulatory authority, FINMA, into potential FX benchmark manipulation. As a result, they were severely penalized. Bloomberg describes the product as […]

Financial regulators are confronting investor frauds that are giving retirement savers steep losses on complex products that until a few years ago were aimed only at the most sophisticated investors, writes Nathaniel Popper in a New York Times article from Feb. 11, 2013. These victims are among the millions of Americans whose mutual funds and […]

The following information is excerpts from the article on the FINRA website.  The fact that a product is “complex” indicates that it presents an additional risk to retail investors because its complexity adds a further dimension to the investment decision process beyond the fundamentals of market forces. This may be the case even though the complexity […]