August 31, 2015

Biggest Market Sell off in over 75 years.

Bloomberg reports: “The S&P 500 has closed more than four standard deviations below its 50-day moving average for the third consecutive session. That’s only the second time this has happened in the history of the index.” Further, according to Bespoke Investment Group, “Not even the crash of 1987 got this oversold […]
August 25, 2015

Chinese yuan devaluation panics world markets

In an effort to boost its sinking economy, China decided to devalue the yuan.  “China devalued the yuan last week and shifted to a more market oriented exchange rate sending the currency into the biggest decline in two decades”, according to Bloomberg. The world markets are plunging in response. “China […]
May 6, 2015

LPL Financial fined $11.7 million for ‘widespread supervisory failures’

FINRA said the firm failed to properly supervise sales of complex products, including certain ETFs, variable annuities and non-traded REITs May 6, 2015 The Financial Industry Regulatory Authority Inc. ordered LPL Financial to pay $11.7 million in fines and restitution for what it deemed “widespread supervisory failures” related to sales […]
September 22, 2014

SEC to Pay $30 Million Whistleblower Award, Its Largest Yet

Blowing the whistle is increasingly worth big bucks.The Securities and Exchange Commission said Monday that a foreign tipster will collect a record whistleblower award of more than $30 million, more than twice as much as the highest previous award. The award came less than a week after Attorney General Eric Holder gave […]
September 8, 2014

Morgan Stanley/UBS Merger “Conversations”

SEPTEMBER 8 – There are rumblings, rumors, conversations, hypotheticals within the wealth management industry that Morgan Stanley has given consideration to buying UBS WMA’s North American operations. We have heard this ‘what if’ from an interesting collage of sources – enough of them that it certainly warrants referencing and discussing. […]
March 13, 2014

SEC Takes Action in Alleged Variable Annuities Scheme

The Securities and Exchange Commission announced enforcement actions against a pair of brokers, an investment advisory firm and several other people involved in an alleged variable annuities scheme that the agency alleged was designed to profit from the imminent deaths of terminally ill patients in nursing homes and hospice care.While […]