Violations focused on outsourcing of communications with customers
Firms failed to provide adequate disclosure to investors
Investors should consider seeking the advice of an advisor, regulators say
Firm failed to make independent research available to customers
Investors get more than US$5 million in remediation
Increased collaboration will benefit investors
BetaPro report aims to eliminate confusion over leveraged ETFs
Firms pay total of US$1.4 million
U.S. securities regulators have charged several brokers with fraud for selling collateralized mortgage obligations (CMOs) as securities suitable for risk-averse investors.The U.S. Securities and Exchange Commission filed a complaint in federal district court in West Palm Beach, Fla., alleging that 10 brokers who worked for now-defunct Brookstreet Securities Corp. did not clearly define the risks […]
Settlements include total fines of US$850,000