The following article appeared on Ambac Financial Group, Inc.'s website. NEW YORK--Ambac Financial Group, Inc. (NYSE:ABK) today announced the closing of 6.15% $400 million Directly-Issued Subordinated Capital Securities (DISCS(SM)). The DISCs were sold at a discount to par to yield 6.199%. The article goes on to say that Ambac will use all of the net proceeds […]

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 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, 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 […]

Soreide Law Group, PLLC, has been investigating Erickson Retirement Community STAMPS (Subordinated Tax Advantaged Mezzanine Put Securities)  sold by B.C. Ziegler and Company in particular or other brokers. Erickson Retirement Communities develops and manages retirement communities for middle-income people in the United States. Erickson Retirement Communities, LLC  was formerly known as Senior Campus Living, LLC. Erickson has retirement communities in […]

NEW YORK - In an article from FoxBusiness.com, Brett Philbin writes that  E*Trade Financial Corp. (ETFC)  received a Wells notice from the Financial Industry Regulatory Authority related to the purchase of auction-rate securities by customers of one of its subsidiaries, according to a regulatory filing.  A Wells notice indicates that regulators are recommending enforcement action and […]

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wedbush Securities and one of its former brokers to pay $2.9 million in damages and fees to an elderly investor who allegedly fell victim to a faulty investment scheme. The founder Edward Wedbush, and broker Debbie Michelle Saleh were ordered to pay $2,865,885 in damages. The […]