Category: Unit Investment Trust
In October 2019, FINRA ordered Investors Capital Corp. to pay $1.1 million in fines and restitution related to the sale of unit investment trusts (UITs) and steepeners, another complex financial product. Investors Capital Corp. is in the Cetera Financial Group … Continue reading
Erez Law is currently investigating Raymond James brokers across the country who recommended unsuitable unit investment trusts (UITs). A UIT is an investment company that offers a fixed portfolio as redeemable units to investors for a specific period of time. … Continue reading
In June 2019, FINRA censured Citigroup Global Markets, fined the firm $225,000 and ordered them to pay $152,488.59 in restitution plus interest for supervisory failures in connection with the sale of Unit Investment Trusts (UITs). According to FINRA, between 2011 … Continue reading
Erez Law is currently investigating former Raymond James & Associates, Inc. financial advisor Robert Howard (CRD# 2201547) regarding Unit Investment Trust (UIT) losses. Howard has been registered with Wedbush Securities Inc. in Dallas, Texas since April 2019. Previously, Howard was … Continue reading
Erez Law is currently investigating Hilltop Securities Inc. financial advisor Walter Valenzuela (CRD# 2280224) regarding investment losses due to unsuitable investment recommendations. Valenzuela has been registered with Hilltop Securities Inc. in Del Mar, California since 2008. Valenzuela has been the … Continue reading
Erez Law is currently investigating Morgan Stanley Smith Barney LLC financial advisors across the country regarding short-term trades of unit investment trusts (UITs). According to the FINRA news release, the regulatory agency fined Morgan Stanley $3.25 million and required the … Continue reading
Erez Law is currently investigating former Morgan Stanley financial advisor Anthony Ferrone (CRD# 1192506) regarding unsuitable trading of unit investment trusts (UITs). Ferrone has been registered with Ameriprise Financial Services, Inc. in Paramus, New Jersey from September 2016 to April … Continue reading
Erez Law is currently investigating former Feltl & Company financial advisor Lance Ziesemer (CRD# 2342087) regarding unsuitable recommendations regarding unit investment trusts (UITs). Ziesemer was registered with Feltl & Company in Wayzata, Minnesota from 2007 to 2016. In September 2016, … Continue reading
Erez Law is currently investigating Revere Securities LLC financial advisor Brett Murphy (CRD# 2434384) regarding excessive and unsuitable trading of unit investment trusts (UITs). Murphy has been registered with Revere Securities LLC in Boca Raton, Florida since 2015. Previously, he … Continue reading
Erez Law is currently investigating former Stifel, Nicolaus & Company, Inc. financial advisor Harold Pomeranz (CRD# 365461) regarding unsuitable recommendations of short-term trading of UITs. Pomeranz was registered with Stifel, Nicolaus & Company, Inc. in Garden City, New York from … Continue reading