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United Development Funding raided by FBI

The FBI raided the office of United Development Funding IV, a Texas-based real estate investment trust (REIT), according to people familiar with the matter. The stock fell more than 54% and was last trading around $3.20 per share. NBC Dallas-Fort Worth reportsthat agents were seen carrying boxes away from the premises. UDF is the latest […]

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Wells Fargo laying off employees of securities unit

In the latest downsizing move by a big bank, Wells Fargo has started cutting jobs this week in its securities unit, including positions in Charlotte according to reporting by The Charlotte Observer. The displaced employees include managing directors – high-level jobs that can draw seven figures in compensation, the sources said. The Wells Fargo unit […]

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Super Bowl Tippee at Wedbush Charged with Insider Trading

In a less than festive recognition of Super Bowl weekend, the Securities and Exchange Commission last Friday charged a Wedbush Securities broker and two of his clients with insider trading. While attending the 2011 Super Bowl between the Green Bay Packers and the Pittsburgh Steelers in Arlington, Texas, a client of Wedbush advisor Marc Winters […]

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Energy Related Bonds & Structured Notes – A Potential Wolf in Sheep’s Clothing?

As noted in a February 5, 2016 article in The Wall Street Journal (“The Oil Rout’s Surprise Victims”), the epic collapse in the price of oil, from more than $100 per barrel less than two years ago to below $30 last week, has “crushed investors in the futures market, energy partnerships, high-yield corporate bonds and […]

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SEC Completes Muni-Underwriter Enforcement Sweep

The Securities and Exchange Commission today announced enforcement actions against 14 municipal underwriting firms for violations in municipal bond offerings.  The actions conclude charges against underwriters under the Municipalities Continuing Disclosure Cooperation (MCDC) Initiative.  In all, 72 underwriters have been charged under the voluntary self-reporting program targeting material misstatements and omissions in municipal bond offering […]

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