UBS Financial Services, Santander Securities, Popular Securities and Oriental Financial Services are financial services companies that enjoy a strong presence in major markets throughout the world. These firms allegedly encouraged clients to take concentrated positions in Puerto Rican bonds closed-end municipal bond funds.
Yesterday, Morgan Stanley agreed to pay $3.2 billion to resolve claims that it misled investors about mortgage-backed securities before the financial crisis, according to New York state Attorney General Eric Schneiderman.
This is the most recent settlement by a banking giant related to the financial crisis, and ends government claims that Morgan Stanley misrepresented to investors the mortgages it packaged into mortgage backed securities including proprietary high-yield mutual funds, unit trusts and structured notes.
Exchange Traded Funds (or ETFs) can be extremely misleading investments. To say they are complex w