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FINRA’s Investor Protection Initiatives for Senior Investors

On April 30, 2020, the Financial Industry Regulatory Authority (FINRA) issued an a report (“Protecting Senior Investors 2015-2020, An Update on the FINRA Securities Helpline for Seniors, Other FINRA Initiatives and Member Firm Practices”), which highlighted the fact that seniors, who “make up an increasingly large share of the American population and hold higher levels […]

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FINRA Proposes Enhancements to Protect Senior Investors from Financial Harm

On April 16, 2020, the Financial Industry Regulatory Authority (FINRA) issued an alert which stated that “there is no higher priority for FINRA than protecting senior investors from financial exploitation. Thus, every year we bring dozens of enforcement actions against brokers who harm senior investors, either through fraud schemes, conversion, churning of accounts, or otherwise.” […]

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Investor Recovery of Midstream Master Limited Partnership (MLP) Losses

On April 3, 2020, in a research note to clients (“Navigating Credit Risks in the Midstream Sector”), Bank America – Merrill Lynch noted that the rating agency Standard & Poors believes that “over 40 producers” in the midstream energy sector “will be rated in the CCC category” and that it “sees potential for bankruptcies or […]

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Master Limited Partnerships (MLPs) Investor Losses Mount

On March 17, 2020, Fitch Ratings downgraded senior notes to ‘A’ from ‘AAA’ and preferred shares to ‘BBB’ from ‘AA or ‘A’ of 10 midstream energy closed-end funds (CEFs) following severe declines in portfolio values that eroded the funds’ asset coverage ratios. Fitch also placed all securities on Rating Watch Negative reflecting the potential for […]

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UBS ETRACS Investor Losses

Aidikoff, Uhl & Bakhtiari is investigating UBS Financial Services, Inc. (“UBS”) for possible sales practice violations, including but not limited to failing to disclose material risks associated with its ETRACS product. ETRACS Exchange Traded Notes are senior, unsecured, unsubordinated debt securities that are designed to track the total return of a specific market index. Exchange-Traded […]

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