SEC Issues Investor Bulletin to Help Investors Assess Municipal Bond Credit Risk

Author: LPclient

FOR IMMEDIATE RELEASE 2012-279 Washington, D.C., Dec. 26, 2012 — The Securities and Exchange Commission today issued an Investor Bulletin to help purchasers of municipal bonds better assess the bonds’ credit risks. Additional Materials Municipal Bonds: Understanding Credit Risk The bulletin provides several factors for investors to consider including the type of the bond, the… Read more »

FINRA Orders Pruco Securities to Pay $10.7 Million in Restitution for Improper Pricing of Mutual Fund Orders; Firm Fined $550,000

Author: LPclient

WASHINGTON – The Financial Industry Regulatory Authority (FINRA) announced today that it has ordered Pruco Securities, LLC of Newark, New Jersey, to pay more than $10.7 million in restitution, plus interest, to customers who placed mutual fund orders with Pruco via facsimile or mail (paper orders) from late 2003 to June 2011 and received an… Read more »

SEC Approves New Rules Regarding Lost Holders of Securities

Author: LPclient

FOR IMMEDIATE RELEASE 2012-277 Washington, D.C., Dec. 21, 2012 — The Securities and Exchange Commission today unanimously approved new rules requiring broker-dealers to conduct searches for holders of securities with whom they have lost contact.  Additional Materials Draft Final Rule: Lost Securityholders and Unresponsive Payees A similar rule already applied to recordkeeping transfer agents, who… Read more »

John Davidson Joins FINRA Board of Governors

Author: LPclient

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced that Carol Anthony (John) Davidson, retired Senior Vice President, Controller and Chief Accounting Officer of Tyco International, will join FINRA's Board of Governors. Mr. Davidson, who will begin his term on Jan. 1, fills the seat vacated by Ellyn Brown.

FINRA and JSDA Sign Cooperation Agreement

Author: LPclient

TOKYO and WASHINGTON — The U.S. Financial Industry Regulatory Authority (FINRA) and Japan Securities Dealers Association have entered into a Memorandum of Understanding (MOU) to support more robust cooperation between the two regulators.

Securities Law 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)

Author: LPclient

BOCA RATON, Fla.–(BUSINESS WIRE)– The Securities Law Firm of Menzer & Hill, P.A. (www.suemyadvisor.com) announced today that it has filed arbitration claims and continues to investigate 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, have solicited purchases in these… Read more »