Did your broker/financial advisor recommend this high-risk leveraged ETF for your otherwise conservative or moderate portfolio? ProShares Ultra VIX Short-Term Futures (UVXY) 52 week range:  32.02 – 664 This investment seeks daily results that match (before fees and expenses) two times (2x) the daily performance of the S&P 500 VIX Short-Term Futures Index. The index […]

Soreide Law Group is investigating claims on behalf of Wells Fargo Advisors, LLC, investors that suffered losses in inverse and leveraged ETFs (Exchange Traded Funds) with former Wells Fargo broker and branch manager, Michael E. French, in Colchester, Vermont. According to Mr. French's CRD, he was discharged in August, 2011, for violating firm policy by […]

Moshar v. Wells Fargo, FINRA ID # 11-00556 (Los Angeles, CA, 1/9/2013) A couple was recently awarded $1,333,300 in compensatory damages through a FINRA arbitration. The claimants charged Wells Fargo with the following: breach of fiduciary duty, breach of written contract, fraud by misrepresentation and omission, failure to supervise and control, and violation of federal […]

Soreide Law Group, PLLC, is currently investigating the marketing and sales of non-traditional exchange traded funds (ETFs) to investors. Many of the country's leading banks – including Citigroup, Morgan Stanley, UBS and Wells Fargo – were recently sanctioned by the Financial Industry Regulatory Authority (FINRA) for more than $9.1 million over their failure to supervise […]

FINRA, the Financial Industry Regulatory Authority Inc., issued an investor alert about the risks of ETNs, exchange-traded notes, after an investigation of Credit Suisse and Barclays ETNs this year. ETNs are often thought of as as ETFs, exchange-traded funds, but in reality, the two are very different.  ETNs are promissory notes written by banks to deliver the returns of an […]

This past Tuesday, May 1st., FINRA, the Financial Industry Regulatory Authority, Inc. fined four major brokerages $9.1 million for selling complex ETFs (Exchange Traded Funds) to investors whose portfolios were otherwise conservative.  Without admitting or denying the charges, the brokerges will be paying $7.3 million in fines, and $1.8 million in restitution to the clients who […]