888-923-9223The securities industry has tough rules when it comes to brokers soliciting the purchase of “penny stocks.” Typically a stock is considered a “penny stock” when it trades for less than $5 a share and it does not trade on a major exchange (e.g., New York Stock Exchange or NASDAQ). Penny stocks normally trade on… Read more »
Monthly Archives: September 2010
Fraudulent Practices in the Sale of Indexed Annuities
If approached by your broker (or financial advisor or insurance agent) to purchase an indexed annuity there are some things an investor should consider. First, an indexed annuity (also known as, equity-indexed annuity or fixed indexed annuity) is a fixed annuity, either immediate or deferred, that earns interest or provides benefits that are often linked… Read more »
Higher broker standards for recommending Leveraged and Inverse ETFs
In our earlier press release, we stated that the Financial Industry Regulatory Authority (FINRA) reminded all brokers and broker-dealers, in a regulatory notice, of their requirements prior to recommending the purchase of a leveraged or inverse exchange-traded fund (ETF). See FINRA Regulatory Notice 09-31 . These requirements are more than what is required prior to recommending… Read more »
The Securities Arbitration Firm of Menzer & Hill, P.A. Announces Investigation Into The Sales Practices Of Broker-Dealers That Solicited Purchases of Inverse and Leveraged Exchange-Traded Funds (ETFs)
BOCA RATON, Fla.–(BUSINESS WIRE)–The Securities Arbitration Firm of Menzer & Hill, P.A. (www.suemyadvisor.com) announced today that it is investigating the sales practices of brokerage firms that solicited investors to buy leveraged and inversed Exchanged-Traded Funds (“ETFs”). Many brokerage firms, through their financial advisors, are soliciting purchases in these securities as investments, with holding periods longer… Read more »