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Structured Products

Home Category: Structured Products

Merrill Lynch to Pay $425M to the SEC and $5M to FINRA for Misusing Customer Funds and Misleading Investors About Structured Notes

SSEK Law,

Merrill Lynch will pay $415M to resolve civil charges accusing the firm of misusing customer funds and not safeguarding customer securities from creditor claims. According to the Securities and Exchange Commission, the firm violated the regulator’s Customer Protection Rule by using customer funds inappropriately instead of depositing them in a reserve account. Instead, said the…

SEC Says Broker-Dealers Need to Do a Better Job of Monitoring High Risk Products

SSEK Law

The Securities and Exchange Commission has put out an alert warning brokerage firms that they need to better monitor the sale of high risk complex investments to retail investors. The regulator said that its analysis of 26,600 transactions of $1.25 billion of structured securities products revealed that there has been quite a number of times…

Non-Traded REITs, Structured Products, and Private Placements Remain Under Regulator Scrutiny

SSEK Law

According to state regulators, non-traded real estate investment trusts, structure products, and private placements, are some of the financial instruments that the states and insurance regulators are watching closely. First Deputy Commissioner of the Iowa Insurance Division Jim Mumford and Alabama Securities Commission director Joseph P. Borg recently spoke at a panel at the Insured…

Stockbroker Fraud Headlines: Securities Claims Against Lehman Underwriters Are Dismissed, NYSE Euronext Works on Kill-Switches Plan, and SEC Calls for Structured Products Ratings Roundtable

SSEK Law

Securities Claims Against Lehman Brothers Holdings Inc. Underwriters Are Dismissed The U.S. District Court for the Southern District of New York has thrown out the California Corporations Code claims made against the underwriters of two offerings of Lehman Brothers Holdings Inc. debt securities per the precluding of the 1998 Securities Litigation Uniform Standards Act. This,…

Broker-Dealers are Making Reverse Convertible Sales That are Harming Investors, Says SEC

SSEK Law

According to the Securities and Exchange Commission, the sales practices that broker-dealers engage in when structured securities are hurting investors. The SEC released this recent finding in a report this week. Structured securities products are derivatives whose value is determined from baskets of indexes, other securities, options, debt issuances, commodities, and foreign securities. The SEC…

Wall Street Targeting Older Investors With Structured Product Sales, Reports AARP

SSEK Law

Unfortunately, there are elderly investors who end up suffering financial losses because a broker placed their money in investments that are unsuitable for their needs. Many of these investors don’t realize that they may have grounds for a securities fraud claim. The AARP says that for many elderly Americans, the prospect of running out of…

Moody’s, Fitch, and Standard and Poor’s Were Exercising Their 1st Amendment Rights When They Gave Inaccurate Subprime Ratings to SIVs, Says Court

SSEK Law

According to California Superior Court Judge Richard Kramer Fitch Inc., Standard and Poor’s parent (MHP) McGraw-Hill Companies Inc., Fitch, Inc., and Moody’s Corp. (MCO), were merely exercising their First Amendment right to free speech when they gave their highest rating to three structured investment vehicles (SIVs) that collapsed when the mortgage market failed in 2008…

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