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A Los Angeles based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded $550,504 to a married couple. The award represents a return of 100 percent of the client’s losses as a result of their purchase of Mat Three. Mat Three was a leveraged municipal arbitrage hedge fund launched by Citigroup Global Markets, Inc. and sold […]
BEVERLY HILLS, Calif., May 12, 2010 – A Los Angeles based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded more than $1.7 million to three clients in connection with their purchases of Mat Five. Mat Five was a leveraged municipal arbitrage hedge fund launched by Citigroup Global Markets, Inc. and sold through Smith Barney, part […]
Investment News
By Bruce Kelly LPL Investment Holdings Inc. and Pacific Life Insurance Co. are staring each other down over which firm will have to pony up the potentially millions of dollars in claims stemming from fraud suits against a rogue broker from one of the three independent-contractor firms LPL acquired from Pac Life two years ago. […]
The Tribune
The more than $8.8 million judgment awarded to clients of Jeffrey Forrest has been paid, six months after a financial regulatory agency determined that the former San Luis Obispo investment adviser had misrepresented a risky hedge fund as being safe. Forrest, who owned WealthWise LLC, and Associated Securities, an El Segundo-based broker-dealer with which his […]
Ignites
The number of arbitration claims filed with the Financial Industry Regulatory Authority has surged in the first seven months of 2009. Through July, investors filed 4,481 claims, as compared to 4,982 claims during all of last year. That’s a 71% increase in the number of new case filings over the same period in 2008, according […]