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Los Angeles Business Journal
By Ryan K. Bakhtiari Due diligence, fiduciary duty, transparency, risk management, oversight. It’s all part of the sacred bond of trust between financial services firms and the investors who entrust them with their money. Somehow, the lines of that trust became increasingly blurred when it concerned investing with Bernie Madoff and his allegedly corrupt hedge […]
Wall Street Journal
Investors who lost money with Bernard Madoff shouldn’t count on the Securities Investor Protection Corp. riding to their rescue. The federally mandated SIPC has a narrow requirement as to what it covers — generally theft in brokerage accounts. Furthermore, securities attorneys say the nonprofit organization, which is supported by brokerages’ membership fees, has a miserly […]
Wall Street Journal
One of the largest financial scams to hit Wall Street has investors wondering if they’ll ever get their money back. Bernard L. Madoff, a former chairman of the Nasdaq Stock Market, is accused of running a “giant Ponzi scheme” that is estimated to have defrauded investors of as much as $50 billion. While the details […]
Investment News
The Charles Schwab Corp. could be liable for millions in investors’ claims over losses to a short-term-bond fund that blew up this year because of its exposure to mortgage-backed securities. At its peak in May 2007, the Schwab YieldPlus Fund had more than $13 billion in assets. From that point through Oct. 10, the fund […]
San Luis Obispo Tribune
The Securities and Exchange Commission has charged a San Luis Obispo based investment adviser with fraud, according to a lawsuit filed in federal court in Los Angeles last week. The SEC charges are based on the failure of WealthWise principal Jeffrey Forrest to disclose to his clients that he had a conflict of interest in […]