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Displaying 101-105 out of 105 results for "Private Placements".

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...

FINRA Press Release: Inverse Floating Rate CMOs

(Aug 2010)

FINRA Fines HSBC $375,000 for Unsuitable Sales of Inverse Floating Rate CMOs to Retail Customers and Related Supervisory Failures

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

"it has fined HSBC Securities (USA) Inc. $375,000 for recommending unsuitable sales of inverse floating rate Collateralized Mortgage Obligations (CMOs) to retail customers. HSBC failed to adequately supervise the suitability of the CMO sales and fully explain the...

FINRA Press Release: Subprime Securitizations

(Jul 2010)

FINRA Fines Deutsche Bank Securities $7.5 Million for Negligent Misrepresentations Related to Subprime Securitizations

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

"it has fined Deutsche Bank Securities Inc. $7.5 million for negligently misrepresenting delinquency data in connection with the issuance of subprime securities."

The settlement is detailed in the FINRA AWC No. 20080128087. According to FINRA, Deutsche Bank Securities...

FINRA Press Release: Provident Asset Management

(Mar 2010)

Dallas-based Provident Asset Management Expelled for Marketing Fraudulent Private Placements Offered by Affiliate in Massive Ponzi Scheme

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

"it has expelled Provident Asset Management, LLC, a Dallas-based broker-dealer, for marketing a series of fraudulent private placements offered by its affiliate, Provident Royalties, LLC, in a massive Ponzi scheme."

A Ponzi scheme is a fraudulent scheme...

SLCG Research: Charles Schwab YieldPlus

(Jul 2009)

SLCG released today 'Charles Schwab YieldPlus Risk'

This paper reports on the Charles Schwab YieldPlus, a bond fund. YieldPlus returned -31.7% between June 2007 and June 2008. Though it told investors that it was an ultra short bond fund, it was in fact an ultra long bond fund. It held securities backed by illiquid long-term private label mortgages, violating concentration and liquidity limits stated in its prospectus. Up until 2007, these securities helped YieldPlus generate...

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