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.

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 securities as investments, with holding periods longer than one day, while others are recommending option strategies on the underlying ETFs.

The Financial Industry Regulatory Authority (“FINRA”), stated in a Regulatory Notice, sent to brokerage firms June 2009, that leveraged and inverse ETFs are “highly complex financial instruments” and “are typically not suitable for retail investors who plan to hold them for more than one trading [day], particularly in volatile markets.”  Brokerage firms that failed to adhere to suitability requirements could be held liable to investors that sustained losses in solicited purchases of leveraged and inverse ETFs as a result.

On May 1, 2012, Citigroup was fined $2 million and ordered to pay $146,431 in restitution. Wells Fargo was fined $2.1 million and ordered to pay $641,489 in restitution. Morgan Stanley was fined $1.75 million and ordered to pay $604,584, and UBS was fined $1.5 million and ordered to pay $431,488.

Investors that have purchased leveraged or inverse ETFs through a brokerage account or managed account offered by Merrill Lynch, a subsidiary of Bank of America (NYSE: BAC), Morgan Stanley Smith Barney (NYSE: MS), Wells Fargo Advisors (NYSE: WFC), Ameriprise Financial (NYSE: AMP), UBS (NYSE: UBS), LPL Financial, Raymond James (NYSE: RJF), Edward Jones, or other brokerage firms and have sustained losses should contact the attorneys at the Securities Law Firm of Menzer & Hill, P.A. to determine if they have a claim for a recovery of losses.

For a free case evaluation or to discuss any other investment losses, please contact the Securities Law Firm of Menzer & Hill, P.A., at 888-923-9223, or visit us on the web at www.suemyadvisor.com.

Author: LPclient

Recently the CFP Board of Standards announced that it will ease up on CFP practitioners who declare bankruptcy #in http://bit.ly/JlYY7k however, in the past the CFP Board could administer disciplinary action against a CFP practitioner for merely electing what would be considered a federal right, declaring bankruptcy.  The Securities Law Firm of Menzer & Hill, P.A is investigating this policy and is speaking with CFP practitioners who have been disciplined for having declared bankruptcy.

Author: LPclient

http://bit.ly/It9eeL  “This is a win for equity and fairness,” said Scott Adkins, Chief Litigation and Bankruptcy Counsel, with Menzer & Hill, P.A. and class action counsel for the putative class. “DeWaay has extremely limited resources and hundreds of clients who’ve lost a lot of money.”

 

Author: Michael Hill

The Securities Law Firm of Menzer & Hill, P.A. (www.suemyadvisor.com) announced today that it is continuing its investigation of the sales practices of brokerage firms that solicited purchases of Lehman Brothers Principal Protected Notes (“Notes”).  Many broker-dealers marketed the Notes as safe, secure, investments without informing the purchasers of the true risks associated with the Notes, including the fact that the Notes were tied to the credit worthiness of the guarantor, Lehman Brothers.  When Lehman Brothers filed for bankruptcy, the value of the Notes became essentially worthless. 

Investors that have purchased Notes through a brokerage account or managed account offered by Merrill Lynch, a subsidiary of Bank of America (NYSE: BAC), Morgan Stanley (NYSE: MS), Wells Fargo Advisors (NYSE: WFC), Ameriprise Financial (NYSE: AMP), UBS (NYSE: UBS), LPL Financial (NASDAQ GS: LPLA), Raymond James (NYSE: RJF), Barclays (NYSE: BCS), Edward Jones, or other brokerage firms and have sustained losses should contact the attorneys at the Securities Law Firm of Menzer & Hill, P.A. to determine if they have a claim for a recovery of losses.

 

For a free case evaluation or to discuss any other investment losses, please contact the Securities Arbitration Firm of Menzer & Hill, P.A. at 888-923-9223, or visit us on the web at www.suemyadvisor.com.