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In the Commonwealth of Massachusetts v. Securities America Inc, the United States is seeing the first instance of a state regulator bringing an enforcement case against a company over private placement deals. The allegations contained in the initial complaint are partially based on the claim that Securities America failed to follow through with proper due […]
Last week Securities America CEO Steve McWhorter announced his decision to retire after 22 years of service. His stated reason for leaving is that he wishes to spend time with his family, and he has stressed that there is no underlying reason for his departure. Despite this, some are questioning the timing of his announcement […]
The debate over the inclusion of a single fiduciary standard in financial reform legislation is now being hit with a new lobbyist assault under the guise of legislator education. The insurance industry lobbyist machine, perhaps the most vehement opposition to sweeping fiduciary reform, now wishes for the Senate to authorize a study over the implications […]
Investors who placed their money in unlisted REITs, including Behringer Harvard, have been awakened to the myriad of issues related to the nature of these products. Unlisted, or non-traded, REITS differ from listed REITs in that they are not traded on an open market. Rather, non-traded REITs are sold to investors who then hold the […]
After Senator Christopher Dodd’s surprise announcement last week declaring he would not seek reelection, many have begun to wonder about the policy ramifications this development will have on the remainder of his term in office. Financial reform is one such area of policy reform that the senator is tackling with much speculation over his resolve […]