An article published yesterday (July 17, 2017) in InvestmentNews, reveals two House panels are poised to launch assaults on the Labor Department's fiduciary rule. One is a vote on a bill to kill Labor's rule and replace it with a disclosure-based best-interest standard, while another will take up legislation to prevent funding for enforcement of the regulation. As it usually plays out, if successful, Wall Street wins and individual investors again lose. Gone will be the newly enacted ... Read More
Stock Market Fraud Attorneys Blog
Representing Investors Nationwide
The securities fraud attorneys at Colling Gilbert Wright & Carter are currently investigating former VSR Financial Services, Inc. ("VSR") registered representative Paul C. Larsen ("Mr. Larsen"), most recently from Naples, Florida. According to FINRA BrokerCheck, Mr. Larsen has at least sixteen customer complaints (all recorded between 2011 and 2016) and was terminated by VSR in September 2010. Many of the customer complaints involve alternative investments includingdirect private... Read More
Choosing to invest a substantial amount of money in the stock market through a stockbroker is a big decision to make, and one that shouldn’t be done lightly. There are many investment firms in Florida and across the nation, and not every broker has your best interest in mind. Our attorneys specialize in stock market fraud because we know how devastating a significant loss in your investments can be. Your investment account could be your retirement plan or your nest egg to pay for college... Read More
The securities fraud attorneys at Colling Gilbert Wright & Carter are currently investigating former Cetera Advisors, LLC ("Cetera") registered representative Christopher Robert Hickman ("Mr. Hickman"), most recently from Delray Beach, Florida. According to FINRA BrokerCheck, Mr. Hickman has at least six customer complaints and was terminated by Cetera in July of 2015. He was subsequently suspended by the Financial Industry Regulatory Authority ("FINRA") for allegedly "engaging in an... Read More
A federal appeals court in Manhattan ruled that some 2,500 investors could not recover money from the investment giant JP Morgan for claims related to the massive ponzi scheme run by notorious fraudster Bernie Madoff.
The court said that the investors, who were called “net winners” because they withdrew more money from their accounts with Madoff than they invested, did not prove that JP Morgan had enough control over Madoff's behavior to justify a suit. The appeals court upheld a... Read More
As first reported by Jeff Cox, CNBC...Donald Trump is considering breaking up the nation's biggest banks, a vow he had made during the presidential campaign then seemed to put on the back burner. In an interview Monday with Bloomberg News, Trump said he is "looking at that right now." Major averages slipped as the news broke, then rebounded, while government bond yields hit their highs of the day.
The bank stocks rallied on Wall Street, with investors taking a win-win view: Breaking... Read More
Variable annuities are growing in popularity with many investors. A lot of investors look at these products as combinations of investments and insurance policies, thus, apparently, making them great ideas – you get money every year, and that amount of money can increase if the investments pay off. And because brokers make a larger commission on variable annuities, many less-than-ethical brokers are happy to push these products.
In reality, however, variable annuities are seldom a good... Read More
There's a simple maxim on the stock market: buy low, sell high. It's the core objective of every investor. However, just because that's the goal, doesn't mean every means of achieving that goal is legal or ethical. One of the most common forms of stock market fraud our lawyers see is the pump and dump scheme.
The pump and dump scheme is pretty basic. It works like this: an investor or group of investors acquire an extraordinarily cheap stock. They then use a number of tactics to talk... Read More
The securities fraud attorneys at Colling Gilbert Wright and Carter are investigating former Broker Dealer Financial Services Corp. registered representative Norman R. Sicard, most recently of Orlando, Florida. According to FINRA's Broker Check, Mr. Sicard has a pending customer complaint seeking to recover in excess of one million dollars.
Mr. Sicard has been employed in the securities industry since August 1992. In the twenty-four plus years he has been employed as a... Read More
“Churning” is the act of excessive trading by an unethical broker. Brokers do this because they make a small fee or commission on every trade, which means an unethical broker has an incentive to make a number of small, meaningless trades that pad their accounts but do nothing for you.
The difficulty on your part is determining when a broker is engaged in churning. After all, making trades is a key part of a broker's job, and in certain circumstances it's even appropriate for a... Read More