The Wall Street Journal, April 22, 2016 - "Is Your Broker Good or Bad?"
Jason Zweig's "The Intelligent Investor: Is Your Broker Good or Bad?"
in this weekend's Wall Street Journal reports on recent published literature on broker misconduct. His article cites SLCG's recently completed analysis of 1.2 million BrokerCheck records. Craig McCann, Mike Yan and Chuan Qin are the principal authors of the study. Their findings are reported in How Widespread and Predictable is Stock Broker Miscond ...[read more]
Financial Times, September 3, 2015 - "Market woes prompt regulator to warn on securities-based loans"
Ben McLannahan and Joe Rennison's "Market woes prompt regulator to warn on securities-based loans"
quotes SLCG's Paul Meyer on the conflicts of interest involved in brokerage firms' extension of securities-based loans. Paul is quoted as saying "While securities-based lending is a low risk and very profitable business for the broker-dealer, the same cannot be said for the borrower. Broker-dealer l ...[read more]
Neue Zurcher Zeitung (The New Zurich Times), August 23, 2015 - "UBS's Costly Puerto Rican Adventure"
Sophie Schimansky's "UBS's Costly Puerto Rican Adventure" reviews the UBS debacle in Switzerland's largest German-language newspaper. The article can be downloaded here
. The article quotes SLCG's Craig McCann (bio here
) on the devastating impact UBS's conflicted sale of closed end funds and on the high ...[read more]
The Wall Street Journal, August 11, 2015 - "Puerto Rico Investors Win Relief From UBS"
Mike Cherny's "Puerto Rico Investors Win Relief From UBS"
in the Wall Street Journal reports on a string of arbitration wins by UBS PR customers over the sale of leveraged closed end bond funds. The WSJ article cites SLCG's analysis of the UBS PR funds and quotes Craig McCann
. ...[read more]
Reuters June 9, 2015 - "Non-traded REITs cost investors $50 billion: consultant"
Ross Kerber and Suzanne Barlyn's "Non-traded REITs cost investors $50 billion: consultant"
reports the result of SLCG's non-traded REIT research. In "An Empirical Analysis of Non-Traded REITs" (paper available here
), Brian Henderson, Joshua Mallett, and Craig McCann found that the non-traded REIT ...[read more]
Federal Judge Hands Down 10-Year Sentence To Former Chief Accounting Officer For Beazer Homes USA, Inc.In April 2015, a federal judge in Charlotte, NC handed down a 10-year prison sentence to the former Chief Accounting Officer of Beazer Homes for accounting fraud and obstruction of justice
. Dr. O'Neal testified about the losses Beazer Homes shareholders incurred due to the fraud. The Judge adopted Dr. O'Neal's event-study calculations and rejected the competi ...[read more]
Reuters, February 18, 2015 - "Interactive Brokers must pay $667,000 for portfolio selloff mishap -panel"
In "Interactive Brokers must pay $667,000 for portfolio selloff mishap -panel"
Suzanne Barlyn reports on a $667,000 FINRA award against Interactive Brokers arising out of its alleged failure to auto-liquidate a hedge fund account in a commercially reasonable manner. The article quotes Craig McCann who testified about the defects of IB's auto-liquidation procedures and on damages ...[read more]
Wall Street Journal, January 14, 2015 - Katy Burne and Aaron Kuriloff "Regulators Want Data on Bond-Trade Fees, SEC, Others Scrutinize Markups Paid by
In Regulators Want Data on Bond-Trade Fees, SEC, Others Scrutinize Markups Paid by Retail Bond Investors
Katy Burne and Aaron Kuriloff report on continued efforts by regulators to improve transparency in the municipal bond market and thereby reduce the extraordinary undisclosed markups and markdowns dealers charge retail investors. The article cites SLCG's comprehensive study ...[read more]