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FANG Leads the Markets Lower, $2 Trillion Lost by Stock Markets In October

October ended as one of the worst months since the 2008 financial crisis.  The S&P 500 lost $1.91 trillion in October. Losses were spread widely across industry sectors. October was the worst month for the S&P 500 since September 2011. Federal Reserve Chairman Jerome Powell said the central bank is “a long way” from neutral […]

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GPB Capital under investigation by Massachusetts Securities Division

William Galvin, the Massachusetts secretary of state, has initiated a probe into the activities of broker-dealer firms who sold private placements sponsored by GPB Capital Holdings, according recently pubished news reports.  The Massachusetts Securities Division has reportedly received information regarding the sales practice of a certain firm, and has requested information from a total of […]

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Auto-Callable Structured Products – the Wall Street House Always Seems to Win

The Wall Street Journal, on September 12, 2018 (“FANG Stock Play Can Fall Short”), noted that investors looking to reap the gains of highflying technology stocks while avoiding risk – through the purchase of “auto-callable” structured note products – are finding they can’t do both. These structured notes “are often sold to mom-and-pop investors seeking […]

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Wedbush Securities Inc. and Edward William Wedbush

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 […]

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Jonathan George Sweeney (Oceanside, California)

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 […]

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