The financial industry has been anticipating this time in history ever since the Baby Boom generation began. There are more people who will be turning more money over to stockbrokers than at any other time in history.  We have watched the abuse investors have taken. Take for example, the investors in Worldcom or Enron. They soon learned that things are […]

In an article from InvestmentNews.com, we learn that enforcement actions and fines by the Financial Industry Regulatory Authority Inc., or Finra,  jumped sharply in 2011, with the latter rising to $68 million, from $45 million in 2010, a new study shows. Much of that surge came from penalties for improper advertising. Finra filed 1,488 disciplinary […]

The Soreide Law Group is investigating claims on behalf of investors purchasing UBS Yield Optimization Notes. UBS’ Yield Optimization Notes are also known as reverse convertibles. Reverse convertibles are esoteric structured products based upon the performance of a short put option, or derivative. Reverse convertibles are attractive to investors seeking income because of the above […]

WASHINGTON — In a February article in The Bond Buyer, Jonathan Hemmerdinger writes that a Financial Industry Regulatory Authority (FINRA) arbitration panel ordered Memphis-based Morgan Keegan & Co. to pay a Birmingham investor $1.95 million for misrepresenting that the Jefferson County, Ala., sewer bonds he purchased were safe, liquid and tax-free investments. These bonds were actually […]

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, February 2012.”   Mercantil Commercebank Investments Services (CRD #117284, Coral Gables, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $20,000 and required to report to TRACE the transactions that were not previously reported.   Without admitting […]

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, February 2012.”   Olaf F. Gamlen (CRD #5292529, Registered Representative, Palm Beach Gardens, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for 10 business days. The […]

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, February 2012.”   Jeffrey Scott Donner (CRD #2631248, Registered Principal, Weston, Florida)   was barred from association with any FINRA member in any capacity. The sanction was based on findings that Donner executed several unauthorized transactions in customers’ accounts at his member firm without their […]

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, February 2012.”   Neal Seth Smalbach (CRD #1459854, Registered Principal, Palm Harbor, Florida)   submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity.   Without admitting or denying the allegations, Smalbach consented to the described […]

In a February 28th., 2012 article written by Liz Skinner for InvestmentNews.com, Skinner writes that the top securities regulator in the U.S. wants investment advisers and brokers to take a closer look at certain trading behaviors to help root out unauthorized trading in accounts. The Securities and Exchange Commission (SEC) said Monday in a risk […]