Bambi Holzer hit with client complaint over selling of risky offerings; broker has appeared on 'Today,' CNN and CNBC
With the sale of private placements facing intense scrutiny from securities regulators, one due diligence attorney has fired off a potent missive to Finra officials about clients' responsibilities when buying the high risk deals.
The Obama administration's stepped up demand for tougher restrictions and new taxes on big banks is complicating Senate efforts to write a bipartisan financial regulation overhaul, even drawing a sharp rebuke from a top presidential ally in the Senate.
Investors filed a class action yesterday against Securities America Inc. — a subsidiary of Ameriprise Financial Inc — and CapWest Securities Inc., alleging that the two firms falsely represented private placement investments and used incoming assets to pay dividends to investors in older investments.
Congressional committee approval late last week of an amendment to the financial-reform bill maintaining state regulation of equity-indexed annuities drew mixed reaction, with insurers cheering the action and advisers largely opposing it.
An insurance group lauds a proposal requiring the SEC to merely examine a single standard of care. And what will come of the study? Not much, says a consumer advocate.
BP Plc was sued by an ex-employee over losses to the company's retirement plan caused by the Gulf of Mexico oil rig explosion and subsequent spill.
The proposal clarifies that the funds are insurance products that should be overseen by states rather than securities that should be regulated by the Securities and Exchange Commission.
Mr. Harkin's amendment would clarify that these funds are insurance products that should be overseen by states rather than the Securities and Exchange Commission.
A New Jersey woman was charged with directing a $45 million real estate Ponzi scheme that allegedly defrauded more than 20 investors in New York and New Jersey.
The U.S. Securities and Exchange Commission sued two Canadian men, accusing them of running a $300 million Ponzi scheme that promised returns of as much as 36 percent on investments in gold-mining companies.
The Geller Group LLC, a New York retirement plan administrator and registered investment adviser, has confirmed in internal memoranda that it is being investigated by the Labor Department.
The Labor Department is investigating Geller Group LLC, a retirement plan administrator and registered investment adviser, for failing to disclose alleged ties to an accounting firm it recommended as an auditor and for other possible violations, according to former employees and others close to the investigation.
Under the rule, if an investment adviser or certain employees of an advisory firm contribute to a politician with influence over hiring, they cannot be paid by the pension fund for two years.
Standard of care takes center stage on Capitol Hill amid a flurry of offers, counteroffers, and counter-counteroffers. Right now, House-Senate negotiators appear to be locked in a stalemate.
The Financial Industry Regulatory Authority Inc. is actively investigating broker-dealer underwriters of subprime securities, a Finra official said this morning at the regulator's national conference in Baltimore.
A small provision buried in both the House and Senate versions of financial-reform legislation is being hailed by some as a modest but important step for the financial planning industry.
Credit-default swaps broker Phoenix Partners Group and brokers who worked at four other firms including Tullett Liberty Inc. and Creditex Group Inc. will pay $4.3 million to settle claims that they attempted to fix fees.
Kenneth I. Starr replied “not that much” to an investigator who accused him of stealing $30 million, a prosecutor said in court -- a statement the government said it may try to use against the accused investment adviser.
The uncertain economy is compounding a long-term problem in the brokerage business: its shrinkage.
