Soreide Law Group, PLLC, is currently investigating claims on behalf of investors in the following firms regarding stock/securities losses: Laidlaw & Company, with locations throughout the United States and the UK, First Midwest Securities, Inc. (FMSI) established in Wisconsin in 1989, FMSI has since relocated to Bloomington, Illinois, Obsidian Financial Group, with offices in New York and […]

 In a November 15th., 2011, Bloomberg Businessweek article they write that a unit of JPMorgan Chase & Co. was ordered to reimburse investment customers more than $1.9 million and was fined $1.7 million over how it sold unit investment trusts and floating-rate loan funds. FINRA, the Financial Industry Regulatory Authority announced the settlement on Tuesday after […]

Recently, the Financial Industry Regulatory Authority (FINRA) ordered Raymond James & Associates, Inc. (RJA) and Raymond James Financial Services, Inc. (RJFS) to pay restitution of $1.69 million to more than 15,500 investors who were charged unfair and unreasonable commissions on securities transactions. FINRA also fined RJA $225,000 and RJFS $200,000.   FINRA found that from […]

In an article for InvestmentNews.com, November 9th., 2011, Mark Schoeff Jr. writes that the Securities and Exchange Commission (SEC) engaged in an unprecedented crackdown on investment advisers over the last year, contributing to an overall surge in agency enforcement. The SEC announced that it filed 146 enforcement actions against investment advisers and investment companies during the […]

Soreide Law Group, PLLC, has announced it's investigation into the Goldman Sachs Global Alpha Fund which was recently closed.  According a New York Times article, Global Alpha was started in 1995 with just $10 million. Over time the results soared. At its peak in 2007, Global Alpha ran about $12 billion, although that number had dwindled to about […]

The following are excerpts from Richard G. Ketchum, Chairman and CEO of FINRA, the Financial Industry Regulatory Authority, and Chairman and Chief Executive Officer Research Center on the Prevention of Financial Fraud in Washington, DC, Thursday, November 3, 2011. "We bring together policymakers, researchers, practitioners, law enforcement and others to discuss how we can better share […]

The following appeared on FINRA's website in 'Disciplinary Actions, October, 2011.' TD Ameritrade, Inc. (CRD #7870, Bellevue, Nebraska)  submitted a Letter of AcceptanceWaiver and Consent in which the firm was censured and fined $100,000 by FINRA. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings […]

The FBI is investigating two former Edward Jones brokers based in South Dakota for their role in a “selling-away” case that involved raising money from clients who invested in an alleged Ponzi scheme writes Bruce Kelly in a September 28, 2011, article in InvestmentNews.com. Kelly writes that according to Jones, a client brought the matter […]

In a Bloomberg News article from October 25, 2011, we learn that UBS AG, Switzerland’s largest bank, will pay $12 million to resolve Financial Industry Regulatory Authority claims that a brokerage unit allowed millions of short-sale orders to be placed without reasonable grounds to believe that the securities could be delivered. The article points out […]