WASHINGTON – On FINRA's website, August, 10, 2011, The Financial Industry Regulatory Authority (FINRA) announced that it has fined Citigroup Global Markets, Inc. $500,000 for failing to supervise Tamara Moon, a former registered sales assistant at the firm's branch office in Palo Alto, California. Over an 8 year period, Moon misappropriated $749,978 from 22 customers, falsified […]

Securities attorney, Lars Soreide, of Soreide Law Group, PLLC, is currently investigating the Dendreon Corp. (NASDAQ: DNDN) for possible violations of federal securities laws after the company’s withdrawal of its sales forecasts for its prostate cancer therapy Provenge. Dendreon projected that it would earn between $350 - $400 million on sales of Provenge. The Dendreon Corporation is […]

In an article from InvestmentNews.com, on July 25, 2011, Dan Jamieson writes that FINRA has warned investors about chasing yield with structured products, junk bonds and floating-rate bank-loan funds. The Financial Industry Regulatory Authority (FINRA) issued an investor alert about the risks found in these and other products. The alert was prompted by "significant recent inflows" […]

Soreide Law Group, PLLC, is filing claims on behalf of Morgan Stanley Smith Barney clients that were sold Fannie Mae and Freddie Mac preferred stocks in 2007 and 2008.  Despite internal limitations to recommend no more than 10% of an investor's portfolio in preferred stocks, Morgan Stanley Smith Barney investors were sold Fannie Mae and Freddie […]

WASHINGTON —It was announced July 20, 2011, on FINRA's website that The Financial Industry Regulatory Authority (FINRA) has suspended William Bailey, a former NEXT Financial Group, Inc. broker of Mesa, Arizona, from the securities industry for two years for unsuitable and excessive trading of mutual funds and variable annuities. Bailey also engaged in discretionary trading without […]

TALLAHASSEE, Fla. – On The Florida Office of Financial Regulation's website it was announced, July 21, 2011, that The Florida Office of Financial Regulation (OFR) issued a final order on May 26, 2011, against investment adviser James Paul Birmingham (“Birmingham”) (CRD # 222511) and his Broward County companies Birmingham Investments and Birmingham Capital Advisors, LLC for […]

In a June 20, 2011, article from Bloomberg News, it was reported that Massachusetts' top securities regulator is suing RBC Capital Markets LLC and one of its former registered representatives over the sale of leveraged exchange-traded funds, saying they sold them to clients who didn't understand how the investments worked. The Massachusetts Secretary of the […]

In a July, 2011, article by Liz Skinner for InvestmentNews.com, she writes that Wedbush Securities Inc. was ordered to pay a former municipal sales trader Stephen Kelleher $3.5 million for failing to give him years worth of incentive-based compensation he was owed. A three-person Financial Industry Regulatory Authority Inc. (FINRA) panel found the firm's “morally […]

In a July 8, 2011, article by Dan Jamieson for InvestmentNews.com he writes that clients of a prominent Bank of America Merrill Lynch have won an $880,000 arbitration award against the firm. Phil Scott of the firm's Bellevue, Wash., office, was this year ranked No. 30 on the Barron's list of top advisers, with $1.8 […]