Reuters
SunTrust Banks Inc sued a Connecticut-based hedge fund on Wednesday to block arbitration of a $13 million dispute over mortgage-backed securities. The lawsuit, filed in U.S. district court in Manhattan, is the latest one brought by a bank to challenge claims by investors that their disputes can be heard and decided by a Financial Industry […]
Thomson Reuters
A proposal to limit when people with certain ties to the securities industry are called to decide cases of aggrieved investors is a step in the right direction, but does not go far enough to please some arbitration lawyers. Wall Street’s industry-funded watchdog wants to exclude people associated with hedge funds and mutual funds from […]
Forbes
On television, actor Larry Hagman played Texas wheeler-dealer J.R. Ewing on the hit show Dallas. No one ever got the better of lyin’, cheatin’ J.R. Ewing. In real life Hagman, who died Friday at the age of 81, was not so lucky. According to MetLife, one in five Americans over the age of 65 will either be […]
New York Times
It was, even then, a risk perhaps not worth taking. The owners of the Mets, fresh off the humbling and costly financial entanglement with a family friend, Bernard L. Madoff, sold a minority stake in the team to another secretive hedge fund manager and family friend whose operation was in the cross hairs of determined federal […]
Reuters
Wall Street’s industry-funded watchdog does not have an official say over registered investment advisers, but it is not shy about stepping up with a solution to resolve their legal disputes. The Financial Industry Regulatory Authority (FINRA) is opening its arbitration forum to disputes between registered investment advisers (RIAs) and investors. FINRA has long run an […]