Free Consultation:
(800) 382-7969
Bank of America Corp. raised $4.7 billion selling structured notes to U.S. investors through June, the most of any issuer and more than its 2009 total, as sales of the securities rose to a record pace. Structured Note investments have gained popularity among a diverse range of investors seeking tailored financial solutions. The increasing interest […]
Legislators finally reached a compromise on the fiduciary standard bill late Thursday after fierce last-minute wrangling over its contents. While the House’s version pushed for the Securities and Exchange Commission to create a fiduciary standard, the Senate preferred instead to have the SEC study differences between its fiduciary standard and the suitability standard many brokers […]
In Friday’s quarterly filing with regulators, the New York-based megabank says for the first time that it has received subprime-related subpoenas from the SEC. Citi’s filing said (on page 176) that it “continues to cooperate fully in response to subpoenas and requests for information from the Securities and Exchange Commission and other government agencies in […]
Credit Suisse Group AG, the biggest bank in Switzerland by market value, was ordered by a U.S. judge to pay STMicroelectronics NV the remainder of a $431 million award over unauthorized investments in auction-rate securities. The arbitration award, ordered in 2009 by the Financial Industry Regulatory Authority, was affirmed on March 19 by U.S. District […]
David Shulman, the former UBS executive who was suspended by UBS in July 2008, has agreed to pay a $2.75 million fine over insider trading charges connected to auction-rate securities sales and be suspended from employment by a broker or dealer until next January. “While thousands of UBS customers received no warning about the auction-rate […]