Study: Structured Products Pose Huge Risks to Investors’ Portfolios
Simply stated, senior investors (in fact, all investors) should be very leery of high-risk structured products. Author John Wasik, in conjunction with Demos and The Nation Institute, has published a...
View ArticleThe Subprime Mortgage Mess: How the American Dream Turned into a Nightmare
Best-selling “Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led To Economic Armegeddon,” by Gretchen Morgenson and Joshua Rosner, “calls out greedy guys behind mortgage mess,”...
View ArticleMorgan Keegan Fined $200 Million for Fraud Involving Toxic Bond Funds
Morgan Keegan & Company and Morgan Asset Management have agreed to pay $200 million to settle fraud charges related to bond funds that invested in subprime mortgage-backed securities. The charges...
View ArticleInvestors to Receive Some Compensation from Morgan Keegan Regulatory Settlements
Morgan Keegan & Company and Morgan Asset Management have agreed to pay $200 million to settle fraud charges related to proprietary bond mutual funds that were both mispriced and loaded with risky...
View ArticleMorgan Keegan Toxic Bond Fund Cases Provide Disturbing Examples of How...
In her recent New York Times article entitled “Findings That May Get Lost,” Gretchen Morgenson writes about a “disturbing paradox” presented by the following scenario: Investors who lost over $1...
View ArticleJudge Gives Morgan Keegan a ‘Free Pass’ on Auction Rate Securities Claims
A U.S. district court judge granted Morgan Keegan’s motion for summary judgment, dismissing the Securities and Exchange Commission allegations that the brokerage firm misled investors in connection...
View ArticleSEC Refuses to Take Action Against Senior Executives in Structured Product Cases
SEC Enforcement Chief Robert Khuzami recently stated that the SEC’s decision not to charge top executives of Wall Street banks with wrongdoing in cases involving structured products was appropriate,...
View ArticleMorgan Keegan for Sale?
Regions Financial Corp. is trying to find a buyer for Morgan Keegan, but the clock is ticking, and the longer it takes, the greater the likelihood that its most valuable asset, the advisor reps, will...
View ArticlePension Plans Victimized by Morgan Keegan Kickback Scheme
The U.S. Department of Labor (DOL) has ordered Morgan Keegan to pay $633,715 to 10 pension plans that were victimized by a scheme in which Morgan Keegan received kickback payments for recommending...
View ArticleRegulators Plan Legal Actions Over Improper Sales of ETFs and ETNs
The Financial Industry Regulatory Authority (FINRA) announced plans to file enforcement actions against certain brokerages in connection with unsuitable sales of leveraged and inverse leveraged...
View Article
