Investment News: Next DOL Fiduciary Proposal Generates Opposition Prior to Release
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FRANKOWSKI FIRM INVESTIGATING POTENTIAL CLAIMS AGAINST LPL FINANCIAL LLC AND CHARLES FACKRELL
The Frankowski Firm is investigating potential claims against LPL Financial, LLC and its former broker Charles Fackrell, of Yadkinville, North Carolina, following a Financial Industry Regulatory Authority (“FINRA”) arbitration award of $462,000 against the firm based on Mr. Fackrell’s fraudulent Ponzi scheme and unsuitable trading in LPL customers’ accounts. Mr. Fackrell accepted a permanent bar […]
SEC ANNOUNCES FINES, CENSURE OF AMERIPRICE FINANCIAL FOR F-SQUARED ALPHASECTOR STRATEGIES
The Securities and Exchange Commission (“SEC”) has censured and fined Ameriprise Financial for its continued use of F-Squared AlphaSector strategies in its marketing to clients, even after learning that the AlphaSector strategies were based on flawed calculations. The F-Squared AlphaSector strategies were a mathematical algorithm which purported to calculate an appropriate buy or sell “signal” […]
FRANKOWSKI FIRM INVESTIGATING POTENTIAL CLAIMS AGAINST MORGAN STANLEY SMITH BARNEY AND TIMOTHY THOMAS GIBBONS
The Frankowski Firm is investigating potential claims against former Morgan Stanley Smith Barney broker Timothy Thomas Gibbons of New Orleans, based on allegations that in 2014 he made unsuitable recommendations to elderly investors, advising them to place high percentages of their accounts (in one instance 79% of a customer’s portfolio) in a single high-risk energy […]
SEC INVESTIGATING POTENTIAL REGULATORY ACTION AGAINST WOODBRIDGE GROUP OF COMPANIES
According to a subpoena enforcement action filed in federal court in Miami by the Securities and Exchange Commission, the SEC is investigating whether the Woodbridge Group of Companies, LLC of Sherman Oaks, California, has violated, or is violating, the antifraud, broker-dealer and securities registration provisions of federal securities laws. Woodbridge has received over $1 billion […]
After Every Natural Disaster Comes a Tidal Wave – of Fraud
Though it is very much like adding insult to injury, one of the more pervasive issues that crests shortly after any natural disaster is stock fraud. Perhaps hoping that consumers are distracted by their woes, or blinded by other outpourings of generosity, scam artists take these opportunities to cast a wide net, blanketing the area […]
FRANKOWSKI FIRM INVESTIGATING SONYA D. CAMARCO AND LPL FINANCIAL, LLC
The Frankowski Firm is investigating potential claims against Sonya D. Camarco, formerly with LPL Financial, LLC in Colorado Springs, Colorado. LPL terminated Ms. Camarco on August 9 of this year following SEC allegations that Ms. Camarco was depositing third-party checks from client accounts into a bank account she controlled and was accessing her client’s funds […]
Are Risky Mortgages Back in Favor?
What started out as a reasonable strategy to allow first time or low credit score buyers to own homes turned into a predatory lending and default spiral that brought down a $1.1 trillion-dollar yearly industry. In the wake of the subprime mortgage crisis, regulatory bodies and legislators alike stepped in to create safeguards against a […]
Developing a Portfolio: Balancing Risk and Reward
The role of brokers and registered investment advisors is invaluable; they educate investors; they manage the fine, tedious details of investing; and they give their best advice and guidance to clients who come from a variety of backgrounds and financial familiarities. Investing is much more of a science than an art. It is a learned […]
Bond Fraud Trial Sees Mixed Results for Nomura Holdings Inc. Traders
Investment brokers have certain obligations to all their clients: to not only tell the truth, but also to provide guidance that reflects the client’s specific needs and wants. This responsibility is also known as suitability. Although suitability may at first seem amorphous, in reality, the law has set out very clear guidelines for what types […]
