Recent front page woes of JPMorgan Chase and MFGlobal – as well as Barclays manipulation of Libor interest rates – have spurred debate as to whether our regulatory bodies are failing to meet watchdog standards of prosecuting financial crimes on Wall Street, and to what degree offending banks and brokers…
Jenice Malecki will be speaking at the Practising Law Institute (PLI) Seminar tomorrow on Securities Arbitration 2012. If you cannot make it, there will be a webcast and course materials available. Last year’s fervor over the fairness of arbitration has not so much subsided as it has been refined. In…
Last week’s July 3rd edition of the New York Times reports that past and present brokers from mutual fund giant JPMorgan Chase were encouraged to favor JPMorgan products in their financial advisement to customers, even when competitor products were better performing or better suited to a consumer’s budget. Moreover, JPMorgan…
In the wake of $2 billion of trading losses at the UK unit of JPMorgan Chase, new focus from US regulators has been placed upon London as a haven for excessive trading risks and broker negligence. And while JPMorgan Chase is said to have begun its own analysis into how…
The New York Times‘s Dealbook section last week reports that the Commodity Futures Trading Commission has fined financial services giant Barclays $200 million, effective June 27th, as a result of the company’s attempts to manipulate a key interest rate – the London Interbank Offered Rate, or “Libor”. To learn more…
Three New York investors have filed a class action complaint – dated May 23rd – against Facebook and chief executive Mark Zuckerberg, in addition to lead underwriter Morgan Stanley and an array of secondary underwriters (including JPMorgan Chase, Barclays Capital, Goldman Sachs, and Merrill Lynch) claiming that negative information about…
Since the financial crisis of 2008 collapse of Lehman Brothers and beyond, the need for regulators to create new means of quelling excessive risk has been met with questions remain as to how effective these rules have been. Many of the new post-crisis rules have not yet gone into effect,…
The Financial Industry Regulatory Authority (“FINRA”), issued a news release on June 4, 2012 announcing that a FINRA hearing panel fined Brookstone Securities $1 million for the fraudulent sales of Collateralized Mortgage Obligations to elderly investors. In addition, FINRA ordered restitution from the firm and the individuals involved and permanently…
Tonight, June 5, 2012, on the 6 O’Clock Evening News on CBS 2 New York, the lawsuit filed by Malecki Law on behalf of forty-three investors in the alleged Ponzi scheme run by Robert Van Zandt will be featured. This past December, Malecki Law announced the filing of a civil…
Investors rely upon their brokers for accurate statements on the market: without knowledge and researched facts, there is no trust that our investments have been wisely managed. In understanding this need, regulatory bodies intervene in situations when brokerage firms have failed to live up to their end of the informational…