Archive for the ‘Merrill Lynch’ Category

FINRA Disciplines Five Firms

Tuesday, March 4th, 2008

The Financial Industry Regulatory Authority (FINRA) has disciplined five broker-dealers for “mutual fund sales and supervisory violations.”  The firms all failed to give mutual fund customers commission discounts to which they were entitled.  The five firms are Prudential Securities, Inc., Pruco Securities, Inc., UBS Financial Services, Merrill Lynch, and Wells Fargo.   (more…)

SEC Eyes Merrill, Morgan Stanley and Others in Subprime Probe

Monday, February 11th, 2008

The SEC has assembled a subprime working group of about 100 enforcement attorneys to look into whether banks and brokerage firms violated the federal securities laws in how they packaged sub-prime loans, how they valued those securities, and how they disclosed (or not) the risks of such securities to retail investors.  Morgan Stanley and Merrill Lynch have disclosed that are among the brokerage firms that the SEC is investigating. (more…)

Massachussetts Accuses Merrill Lynch of Fraud

Tuesday, February 5th, 2008

According to Massachusetts Secretary of State William Galvin, two Merrill Lynch brokers,  Carl J. Kipper and Manuel Cho, sold the City of Springfield risky Collateralized Debt Obligations (CDOs) that lost the City almost $13 million when the subprime mortgage crisis hit.  Galvin’s complaint alleges that Merrill Lynch “steered the city toward high-risk investments without proper guidance, contrary to state law and without warning Springfield officials of the risk ….” (more…)




About Us | Threats from Brokers | Investors at Risk | Our Services | Place an Order | FAQs | Terms of Use | Privacy Policy
Copyright © 2007 Investor's Watchdog. All rights reserved.
Web Site by Blakfire