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February 5, 2013
FINRA Backtracks on Plan to End 5% Markup Rule. Investors Check Your Order Tickets.

In a FINRA NTM 13-07 posted last Thursday on its website, FINRA asked for comment on an updated proposal that would keep the 5% guideline in place. The action follows complaints about an earlier proposal to eliminate the 5% rule for markups and markdowns. In other words, any FINRA broker/dealer can make up to 5% […]

February 4, 2013
ATTENTION UBS BOND INVESTORS

Those investors who believed they had constructed a “conservative” portfolio by being heavily invested in bonds could be reclassified as “aggressive." Some also believe the move may be an attempt by the firm to lessen its liability in the event clients who are holding large positions in bonds decide to take legal action against UBS. […]

February 1, 2013
What You Should Consider Before Investing in Tenant-In-Common (TIC) Investments

There are many real estate investors attracted to Tenant-In-Common (TICs) for the purported tax savings through the like kind exchange provisions in the IRS code Section 1031, which allows for the investor a deferral of capital gains. Up until 2013, the capital gains rate was only 15%. Investors need to calculate the net amount of […]

January 31, 2013
Tenant-in-Common (TIC)

Tenant in Common (TIC) investments, or 1031 exchanges, are a form of real estate ownership in which multiple investors own fractional interests in a property. Many brokers and brokerage firms sold billions of these products to investors across the country allegedly charging high fees, and doing little or no due diligence. They were investments with […]

January 31, 2013
FINRA Wants to Change Public Arbitrator Qualifications

The Financial Industry Regulatory Authority Inc., also known as FINRA, is proposing to tighten its definition of “public” arbitrator. FINRA would like to exclude people associated with a mutual fund or hedge fund from its pool of public arbitrators and require others to wait for two years after ending an industry affiliation before being classified […]

January 30, 2013
Reverse Convertibles Investors Linked to Apple Common Stock--Got Burned

Reverse convertibles, are often called "trigger notes," "phoenixes," or "auto-callables." These structured products promised high yields of 6% to 12% or more, but trigger a conversion to Apple common stock if the price falls, usually on average 15% to 20%. With Apple down more than 25% from its high of last fall in 2012, many […]

January 29, 2013
Former Broker Charged by SEC with Defrauding Investors in Mortgage Backed Securities (MBS)

The Securities and Exchange Commission (SEC) today, January 29th., 2013, on it's website announced that it has charged a former managing director of Jefferies & Co., Inc. (Jefferies), a New York-based broker-dealer, with making misrepresentations and engaging in misleading conduct while he sold mortgage-backed securities (MBS) in the wake of the financial crisis. The SEC […]

January 24, 2013
Alison Janke, Port Richey, FL, Fined and Suspended by FINRA

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.” Alison Marie Janke (CRD #4409155, Registered Representative, Port Richey, Florida) was fined $11,600, which includes the disgorgement of financial benefit received of $6,600, and suspended from association with any FINRA member in any capacity for three months. Without admitting or […]

January 24, 2013
Did You Invest in UBS Willow Fund?

Soreide Law Group is currently investigation the UBS Willow Fund. This distressed debt hedge fund was formed in 2000. In October, 2012, its investors were informed that the fund would be liquidated after having sustained substantial losses. Willow Fund’s net asset value declined over $300 million. In December, 2012, a class action lawsuit was filed […]

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