Investors Accuse New York-Based Broker-Dealer of Reg BI Violations Securities lawyers at Shepherd Smith Edwards and Kantas (SSEK Law firm) are looking into claims of losses by investors who were sold GWG Holdings L Bonds by their Cabot Lodge Securities brokers. Cabot Lodge is one of the more than 140…
Leading Broker-Dealer Pitched Regional Broker-Dealers To Sell These Risky Junk Bonds Securities lawyers at SSEK are investigating Emerson Equity wholesalers that pitched risky junk bonds. According to InvestmentNews, a review of BrokerCheck data suggest several Emerson Equity wholesalers across the US have left the firm since the beginning of 2022.…
Two FINRA Arbitration Panels Order Firm To Pay UBS YES Customers for Their Losses In separate UBS Yield Enhancement Strategy (UBS YES) investor cases, two Financial Industry Regulatory Authority (FINRA) arbitration panels have awarded UBS Financial Services customers $1.18M and $1.4M, respectively. These are the latest awards against the broker-dealer,…
Texas Retiree Files Six-Figure FINRA Arbitration Claim Over Her Investment Losses An Austin, TX investor has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Western International Securities, Inc. The investor sustained losses in GWG Holdings L Bonds and the following non-traded real estate investment trusts (non-traded REITs): Griffin…
Broker-Dealer Ordered to Pay Customers More Than $625K in Restitution The Financial Industry Regulatory Authority (FINRA) sanctioned National Securities Corporation for about $9M, including $4.77M disgorgement in net profits. The broker-dealer allegedly tried to artificially impact the market for GPB private placements involving several public offerings while serving as the…
New Jersey Accuses Real Estate Development Company of Defrauding 1,800 Investors Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is investigating claims of losses by 1,800 investors. These investors may have been fraudulently sold at least $630M in securities by National Realty Investment Advisors (NRIA) between 2018 and…
Claimant Alleges Unsuitable Offshore Investment Led to Significant Losses An investor who lives in Trinidad and Tobago has filed an arbitration claim against Truist Investment Services over losses he sustained in Northstar Financial Services (Bermuda). The claimant seeks up to six figures in damages. His broker allegedly advised him to…
Customers of Barred Centaurus Financial Broker Are Requesting Over $7.4M in Damages Marc Frederick Korsch, the CEO of NAV Advisors in Sarasota and a former Centaurus Financial registered representative, is reportedly involved in a GWG Holdings L Bond case. A Centaurus Financial investor filed this case. Although not a respondent…
SEC Alleges Western International Securities and Its California Financial Advisors Committed Due Diligence Failures The US Securities and Exchange Commission (SEC) has filed civil charges against Western International Securities and several of its registered representatives. The firm and its advisors allegedly violated Regulation Best Interest standards when they sold about…
Did The Firm Misrepresent Environmental, Social, and Governance Qualifications in Marketing Materials? According to The Wall Street Journal, sources say that The US Securities and Exchange Commission (SEC) is investigating Goldman Sachs Group Inc. The investigation includes certain funds that utilize environmental, social, and governance (ESG) criteria. ESG investing considers…