Out of nowhere, a $693 million loan Clover took to the market five years ago lost about a third of its value. This collapse was surprising to insiders who trade corporate loans. Clover had been operating since 1996 when it was acquired by Golden Gate which followed an usual path of private equity buyouts — […]
Aidikoff, Uhl & Bakhtiari is investigating the sale of the Yield Enhancement Strategy (“YES”) recommended by financial advisors to UBS customers. The investigation focuses on UBS sales practices and representations made in connection with the recommendation of the UBS YES program for fixed income customers. UBS’s Yield Enhancement Strategy (“YES”) reportedly had over $5 billion under […]
Stocks tanked on Monday, pushing the S&P 500 to a new low for the year amid growing concerns that the Federal Reserve’s plan to raise interest rates could be too much for the economy and stock market to handle. The Dow and S&P 500, which are both in corrections, are on track for their worst […]
A judgment issued by the United States Court of Appeals for the Ninth Circuit became final in which the firm was fined $300,000. Mr. Wedbush was fined $50,000 and suspended from association with any FINRA® member in any principal capacity for 31 days. The United States Court of Appeals for the Ninth Circuit denied the […]
An AWC was issued in which Sweeney was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Sweeney consented to the sanction and to the entry of findings that he made material misrepresentations and omitted material information in an unsuitable recommendation 14 Disciplinary and Other FINRA Actions July […]