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Article Archive
- More Trouble for Morgan Stanley, e-mail “destroyed” is found
Again, Morgan Stanley Dean Witter is found red handed lying about e-mails, and trying to hide behind the tragedy of 911, for its own monetary gain. It is not only dishonest, fraudulent, and perjerous, it is offensive to decency and our Nation's stand against terrorism.
- NASD Foundation Study Examines What Makes Elderly Susceptible to Investment Fraud
Even the NASD knows that elders are not only the targets of financial fraud scams by brokers, but that elders are especially suceptible to these scams. But where are the added protections for those who have worked for many years? Only by working with a lawyer, do you have a chance in this forum.
- Lobbying Intensifies in the NASD and NYSE Proposed Merger
From the folks who say that competition makes for a fair market: How the NASD and NYSE are fighting behind the scenes to combine, leaving only one arbitration forum, with zero competition. This arbicle discusses why these two want to merge, and suggests the real winners--those who stand to make a load of money from the deal.
- How Wall Street ‘Sweeps’ the Cash to a Bonzana
Wall Street has a reason for offering your accounts such a low interest rate--they are making billions off of your money, again.
- NASD Proposes Third Admendment to New Variable Annuity Sales Rules
The brokers are fighting new rules for Variable Annuities Sales so hard, that there is a third round of proposed changes
- NASD Charges Morgan Stanley DW with Repeatedly Failing to Provide Emails
The NASD finally (far too late) charges that Morgan Stanley Dean Witter outright lied about important documents, and wrongfully withheld those documents from regulators and from investors who had filed law suits against brokers. Among other things, Morgan Stanley is accused of lying when it claimed that certain email records were destroyed as a result of the 9/11 attacks.
- Morgan Stanley loses arbitration brought by 86-year old former client
Morgan Stanley invested an 86 year old's life savings in risky high tech mutual funds. The funds were proprietary to Morgan Stanley and paid unusally high commissions. The investor won her arbitration case, but is still trying to get justice.
- Prudential Gets Rocked Again
Court refuses to overturn decision ordering Prudential to pay $14.5 million to couple who sued claiming that a group of brokers had mismangaed their money.
- Attorney General Elliot Spitzer (New York) Sues UBS for Excessive Fees
New York State's Attorney General Eliot Spitzer sues UBS Financial Services for defrauding thousands of its customers through its "InsightOne" program. Investors were charged millions of dollars in additional commissions, including a 91-year old InsightOne client who was charged more than $35,000 for just four trades over two years.
- Brokers Set For a Blowout
There they go again: The brokerage firms make huge, record profits. Makes you wonder how they do it...
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