Wells Fargo Broker Recruitment and Upfront Payouts – Beware

This article focuses on Wells Fargo broker recruitment practices. Recently it has been reported that Credit Suisse Group and Wells Fargo have recently agreed to a recruiting arrangement whereby Credit Suisse’s U.S. brokers will be able to “smoothly” transition their practices and clients to Wells Fargo Advisers by early next year. While the press has been focused on some Credit …

The Elderly, Dementia, Alzheimer’s and How Investment Fraud Attorneys Can Help

Recently, FINRA has focused on the increase in cases involving the abuse of elderly investors by investment advisors and registered representatives. This has also become a focus of Investment Fraud Attorneys. Two weeks ago , as reported by Investment News FINRA filed charges against a Financial Advisor who tried to inherit 1.8 Million from his client who was suffering from Alzheimer’s. Advisers taking …

Mother of all Dispute Resolution Clauses and the Iran Nuclear Deal

On April 2, 2015 The US and the P5+1 powers agreed to a Joint Comprehensive Plan of Action (JCPOA) regarding the Islamic Republic of Iran’s nuclear program and the US State Department issued a fact sheet purportedly providing the details of such Plan. A key section of such plan relates to Sanctions and what will happen if it is determined …

Brokerage Firms Using U5s as Leverage

March 6, 2013 It seems more and more often now firms are threatening reps with filing false assertions on a broker’s U5 when they depart a firm, so as to gain leverage over the representative. When a dispute breaks out between a representative and a firm whether it is because the representative learns of some compliance procedure or SEC rule …

Heinz Insider Trading – Appears to be an Amateur

February 19, 2013, 5:15pm EST – News reports from Friday revealed that that the SEC in one of the rare occasions of acting expeditiously have frozen several Swiss bank accounts related to excessive purchases of call options in Heinz (HNZ) stock immediately prior to the takeover offer made by Warren Buffet. According to the complaint, Apparently some investor invested nearly …

2/13 NY TIMES Investors Beware of Private Placements

February 11, 2013 The Front Page New York Times article today which refers to a case of ours highlights the focus of attention in today’s market place. With investors seeking income due to low interest rates unsophisticated investors are susceptible to pitches relating to sophisticated illiquid investments which like the roach motel, it’s easier to get in than to get …

Credit Agencies Learn Having a Bad State Prenuptial

In divorce when you have a bad prenuptial, you end up in never ending Court battles that you never expected, especially if your spouse learns of things that should have never seen the light of day. Well, as the credit agencies are learning it’s the same thing with State regulators. According to public reports New York Attorney General Eric Schneiderman …

Wells Fargo’s Philip Horn and the Braemar Country Club

This new story from the New York Times of broker fraud demonstrates just how difficult it may be even for sophisticated investors to uncover fraud when they trust their broker. It’s alleged that Mr. Horn would use the volume of his trading to cover up a series of cancel trades so that when he had a large winning trade he …

Centaurus Reits – Behringer Harvard & Cornerstone

Based on contacts we have recently received, we are currently investigating whether Centaurus Financial are marketing to elderly investors these highly illiquid securities which are generally unsuitable other than in a highly diversified portfolio of highly liquid stock bonds and other investments. As investors age, their investments must be more and more liquid. To the extent the opposite is true …

SEC Attorneys Focus Interests of Investors

24 December, 2012 @ 3:34 by admin During an investigation pertaining to a brokerage or investment firm, regulatory bodies such as the SEC, FINRA, CFTC or others may also need to investigate the actions of investment professionals working for the firm. As a registered representative or stock broker, you will likely require legal representation with respect to depositions, subpoena responses, …