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Our experts frequently write blog posts about the findings of the research we are conducting.

Displaying 7 out of 7 results for "Short".

SEC Press Release: New Short Form Criteria

(Jul 2011)

SEC Adopts New Short Form Criteria to Replace Credit Ratings

The Securities and Exchange Commission (SEC) issued a press release today announcing that it had removed "credit ratings as eligibility criteria for companies seeking to use 'short form' registration when registering securities for public sale." The SEC unanimously voted for the adoption of this new rule, in response to the Dodd-Frank Wall Street Reform and Consumer Protection Act that encouraged financial regulators to rely...

In the News: UBS & Morgan Stanley Subpoenaed over Reverse Convertibles

(Jul 2011)

UBS, Morgan Stanley Subpoenaed Over Reverse Convertibles

Bloomberg news reported today that the state of Georgia had sent subpoenas requesting for data and other information from UBS AG, Morgan Stanley and Ameriprise Financial Inc.. The state is investigating whether these brokerage firms violated the securities laws of Georgia in their sale of reverse convertibles to investors of Georgia.

Sales of reverse convertibles have grown, and investors who are being sold these structured...

SEC Press Release: Auction Rate Securities

(Jun 2011)

SEC Charges Raymond James for Auction Rate Securities Sales Practices

The U.S. Securities and Exchange Commission (SEC) issued a press release today announcing that it had

"charged Raymond James & Associates Inc. and Raymond James Financial Services Inc. for making inaccurate statements when selling auction rate securities (ARS) to customers."

Here is the SEC's Administrative Proceeding.

According to Registered Rep., Raymond James has agreed to repurchase $300 million of ARS...

In the News: Auction Rate Securities Purchased by US Airways

(Jun 2011)

Forbes' blogger Bill Singer narrates the story of US Airways. Registered with Lehman Brothers at the time, three individuals were ordered to pay US Airways $15 million in damages for making unsuitable recommendations and unauthorized purchases of auction rate securities (ARS) and for the failure to provide proper supervision over the transactions of ARS made on behalf of US Airways.

ARS are long-term floating rate securities whose coupon payments are determined at auctions that are...

FINRA Investor Alert: Stock-Based Loan Programs

(May 2011)

Stock-Based Loan Programs: What Investors Need to Know

The Financial Industry Regulatory Authority (FINRA) published an Investor Alert on the risks and rewards of non-recourse stock-based loans, loans which are given to borrowers who pledge fully paid securities as collateral to the lenders. This collateral is the only recourse the lenders have with which to reclaim the loans from the borrowers. The lender holds the securities during the period of the loan and returns them - with profits...

FINRA Press Release: Auction Rate Securities

(Apr 2011)

FINRA Fines Jefferies $1.5 Million for Failing to Disclose Additional Compensation Paid and Conflicts in Sale of Auction Rate Securities

The Financial Industry Regulatory Authority (FINRA) issued a press release today announcing that

"it has fined Jefferies & Company, Inc. $1.5 million for failing to disclose additional compensation received and conflicts in connection with the sale of auction rate securities (ARS). FINRA also ordered Jefferies to repay $425,000 in fees and...

FINRA Press Release: Improper Marketing

(Jan 2011)

FINRA Orders Schwab to Pay $18 Million to Investors for Improper Marketing of YieldPlus Bond Fund

The Financial Industry Regulatory Authority (FINRA) issued a press release today announcing that

"it has ordered Charles Schwab & Company, Inc., to pay $18 million into a Fair Fund to be established by the Securities and Exchange Commission (SEC) to repay investors in YieldPlus, an ultra short-term bond fund managed by Schwab's affiliate, Charles Schwab Investment Management. The $18...

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