Posts belonging to Category Credit Suisse
Posted by Page PerryonNovember 19, 2012
The SEC has settled two mortgage-backed securities actions against J. P. Morgan Chase and Credit Suisse for over $400 million. The enforcement actions arose out more than $1 billion in losses by investors during the financial crisis. Critics say that the settlements are just a cost of doing business and will not deter similar Wall […]
Categories: Alternative Investments, Asset Backed Securities, Brokerage Firms, Common Securities Broker Abuses, Credit Suisse, Fairness/Just & Equitable Conduct, Investigations, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Misrepresentation/Omission, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMay 2, 2012
Wall Street banks could soon cut as many as 21,000 jobs in New York alone, say Wall Street consultants and recruiters. Worldwide cuts could be even larger (“Large layoffs loom on Wall Street,” Stephen Gandel, CNN Money). While the stock market is up this year, and many smaller investment banks have been hiring, and the […]
Categories: Bank of America, Barclays, Brokerage Firms, Credit Suisse, Economy, Employment Issues, Goldman Sachs, Jobs, Market Developments, Merrill Lynch, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonApril 25, 2012
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 exchange-traded funds (ETFs), as well as for failure to train their brokers who sell them (see Reuters article by Suzanne Barlyn and Jessica Toonkel entitled “FINRA to bring cases over […]
Categories: Alternative Investments, Brokerage Firms, Common Securities Broker Abuses, Credit Suisse, Derivatives, Early Retirement Scams, Elder Abuses, Exchange Traded Notes (ETNs), Exchange-Traded Funds (ETFs), Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Morgan Keegan, RBC Dain Raucher, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Unsuitable Recommendations
Posted by Page PerryonApril 16, 2012
While the popularity of exchange traded notes (“ETNS”) has surged, ETNs can be extremely volatile, and investors run the risk of losing their entire investment. ETNs reportedly hold $17.4 billion in assets, up from under $5 billion five years ago.
Categories: Alternative Investments, Brokerage Firms, Common Securities Broker Abuses, Credit Suisse, Exchange Traded Notes (ETNs), Investment Advisers, Investment Malpractice, Investor Alerts, Misrepresentation/Omission, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes, Unsuitable Recommendations
Posted by Page PerryonMarch 26, 2012
Credit Suisse’s VIX (volatility)-linked exchange traded note? named “VelocityShares Daily 2X VIX Short-Term ETN” ? plummeted 30 percent on March 23 after Credit Suisse announced it would resume issuing new shares. “This is a wake-up call,” a Morningstar analyst was quoted as saying, adding: “People don’t take seriously the options that issuers have” that can […]
Categories: Alternative Investments, Brokerage Firms, Common Securities Broker Abuses, Credit Suisse, Derivatives, Exchange Traded Notes (ETNs), Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Rights, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes, Unsuitable Recommendations
Posted by Page PerryonFebruary 7, 2012
Questions continue to arise regarding the too-cozy relationship between the SEC and Wall Street. Recent reports claim that the SEC, when settling with big Wall Street firms, has a practice of granting waivers that preserve special privileges enjoyed by those firms, and protect them from serious consequences that would otherwise result from their wrongdoing. For […]
Categories: Ameriprise, Bank of America, Bear Stearns, Brokerage Firms, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Goldman Sachs, J. P. Morgan Chase, Merrill Lynch, Morgan Stanley, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS, Wachovia, Wells Fargo
Posted by Page PerryonFebruary 1, 2012
Federal prosecutors plan to file criminal actions against four former traders who allegedly overvalued collateralized debt obligations (CDOs) sold by Credit Suisse in order to increase their commissions. The events occurred in 2008 and resulted in a $2.85 billion write down by Credit Suisse. Credit Suisse fired the traders and cooperated with authorities in their […]
Categories: Alternative Investments, Brokerage Firms, CDOs, Common Securities Broker Abuses, Credit Suisse, Derivatives, Investigations, Investment Advisers, Investor Alerts, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJanuary 23, 2012
The amount of dollars at stake in FINRA securities arbitrations has grown in recent years. Of the 7,000 claims currently pending, approximately 200 involve claims of $10 million or more. “The claims coming in now are substantially larger than what we had a few years ago,” Linda Fienberg, president of FINRA Dispute Resolution, was quoted […]
Categories: Auction Rate Securities, Bank of America, Brokerage Firms, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Fairness/Just & Equitable Conduct, Hedge Funds, Investment Advisers, Investment Malpractice, Investor Alerts, Merrill Lynch, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS, Unsuitable Recommendations
Posted by Page PerryonNovember 16, 2011
Citigroup plans to cut 3,000 or more jobs, about 1 percent of employees, and BNP Paribas plans to cut about 1,400 jobs, or 7 percent of its employees, according to the New York Times (“Citi to Shed 1% of Its Workers; BNP Paribas Plans to Cut 7%”). The NY Times was told unofficially that one […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Credit Suisse, Economy, Employment Issues, Investment Advisers, Jobs, Market Developments, Morgan Stanley, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS
Posted by Page PerryonNovember 11, 2011
Mike Mayo, a banking analyst who has worked at six Wall Street firms and has a reputation for independence from the banks he covers,recently published a book that reveals the fundamental unreliability of Wall Street research recommendations. When Mayo started out on Wall Street, he says he called them as he saw them. But when […]
Categories: Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Fairness/Just & Equitable Conduct, Investigations, Investment Advisers, Investment Malpractice, Investor Alerts, Market Developments, Misrepresentation/Omission, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Unsuitable Recommendations