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Due Diligence Lacking in Private Placement Deals

Recent failures of private placement deals, including notes issued by Medical Capital Holdings, has brought to light the issue of due diligence performed by broker-dealers. The issue that has been raised is that there is little to no pre-screening of private placement investment products by a regulatory body. This lack of regulatory oversight has exposed […]

Former AIG CEO Greenberg to Pay $15 Million To SEC

Former AIG CEO Hank Greenberg has agreed to pay the SEC $15 million to settle past accounting issues, as reported by the Wall Street Journal. The settlement addresses allegations related to accounting practices during his tenure at AIG, reflecting ongoing efforts by the SEC to hold corporate leaders accountable for financial misconduct. Additionally, former AIG […]

SEC Charges B of A For Statements To Investors About Merrill Lynch Purchase

The Securities and Exchange Commission today charged Bank of America Corporation for misleading investors about billions of dollars in bonuses that were being paid to Merrill Lynch & Co. executives at the time of its acquisition of the firm. Bank of America agreed to settle the SEC’s charges and pay a penalty of $33 million. […]

Lehman Structured Product and Lehman Principal Protected Notes (PPNs) – Recovering and Valuing Losses

If you own a Lehman Brothers structured product issued in Europe, the basic components you are ultimately invested in are a bond and an option. The bond is a zero coupon, which means it is issued at a price well below par. The value you have in the bond is whatever price you have bought […]

TD Ameritrade Agrees To Repurchase ARS From Customers

TD Ameritrade Inc. agreed to buy back $456 million of auction-rate securities from about 4,000 clients as part of a settlement with New York Attorney General Andrew Cuomo, the Securities and Exchange Commission and Pennsylvania securities regulators. The online brokerage firm intends to return the money to customers, including individuals, charities, nonprofit entities and businesses, […]