The Financial Industry Regulatory Authority (FINRA) announced today 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 risks of an inverse floating rate or other […]
Aidikoff, Uhl & Bakhtiari announced today that it is investigating potential claims on behalf of investors who invested in the following municipal arbitrage funds: 1861 Capital Management Citigroup’s Mat and ASTA Funds Aravali Fund Blue River Asset Management GEM Capital Havell Capital Enhanced Municipal Income Fund Rockwater Hedge Fund, LLC Stone and Youngberg Municipal Advantage […]
Aidikoff, Uhl & Bakhtiari announces it’s continuing investigation into the ASTA/Mat municipal arbitrage funds launched by Citigroup Global Markets, Inc. and sold through Smith Barney, part of Citigroup’s (NYSE:C) Global Wealth Management Group. The ASTA/Mat funds were first rolled out in 2002 and imploded in February 2008 causing catastrophic losses to investors. “The Mat funds […]
Aidikoff, Uhl & Bakhtiari announces an investigation into the 1861 Capital Management municipal arbitrage funds sold by UBS and other broker dealers. The 1861 Capital funds imploded in February 2008, causing catastrophic losses to investors. “1861 municipal arbitrage funds were marketed to clients as a fixed income product producing a couple of extra points above […]
A FINRA arbitration panel ordered UBS AG on Tuesday to pay $81 million in damages to a Bethesda, Maryland-based cellphone marketer that purchased auction-rate securities through the U.S. brokerage. FINRA documents posted online showed a panel comprised of three public arbitrators ordered to pay the damages to Kajeet Inc, which purchased student-loan auction-rate securities that […]