|
Investor AlertHSBC Fined for Unsuitable Sales of Inverse Floating Rate CMOs The Financial Industry Regulatory Authority (FINRA) has fined HSBC for Unsuitable Sales of Inverse Floating Rate CMOs to Retail Customers and Related Supervisory Failures. An announcement from the regulator said it had fined HSBC Securities (USA) Inc. $375,000 for recommending unsuitable sales of inverse floating rate Collateralized Mortgage Obligations (CMOs) to retail customers. According to FINRA, HSBC failed to adequately supervise the suitability of the CMO sales and fully explain the risks of an inverse floating rate or other risky CMO investment to its customers. A CMO is a fixed income security that pools mortgages and issues tranches with various characteristics and risks. CMOs make principal payments throughout the life of the security with the maturity date being the last date by which all of the principal must be returned. The timing of the return of principal payments can vary depending on interest rate changes. One of the more risky CMO tranches is the inverse floater, a type of tranche that pays an adjustable rate of interest that moves in the opposite direction from movements of an interest rate index, such as LIBOR. Since 1993, FINRA has advised firms that inverse floating rate CMOs "are only suitable for sophisticated investors with a high-risk profile." To have a free consultation about your legal rights: Call now to (954) 961-0096 to speak with securities fraud attorney Mark A. Tepper or email askmark@marktepper.com. Schwab Yield Plus Select Fund (NASDAQ: SWYSX) and Schwab Yield Plus Fund (NASDAQ: SWYPX) Charles Schwab Yield Plus investors: Very little time remains to opt out of the Yield Plus Class Action lawsuit and have your case handled individually. If you do nothing, on December 28, 2009 the Court will permanently include you in the Yield Plus Class Action. If you're included involuntarily by inaction you'll be bound by whatever settlement is achieved rather than being represented individually. Don’t miss this opportunity to have a free consultation about your legal rights. Call now to (954) 961-0096 to speak with securities fraud attorney Mark A. Tepper or email askmark@marktepper.com.
If you purchased Kemper Lumberman Notes from Morgan Stanley & Co. or Morgan Stanley Dean Witter, contact us for a free consultation to discuss your legal rights and the possibility of recovery. Charles Schwab (NASDAQ: SCHW) is accused in a number of proposed class actions of misleading investors by describing the Yield Plus Fund in prospectuses as only "marginally" riskier than cash. Investors in the Schwab Yield Plus Funds who believe that instead of a money market fund they received a mutual fund concentrated in speculative, risky mortgage backed securities and should seek legal advice about their rights. Investors who lost money in Schwab Yield Plus Funds and who wish discuss all of their legal options including the possibility of filing an individual arbitration claim should contact attorney Mark A. Tepper for a free consultation regarding your legal rights and remedies. If you had any type of broker problems, you should consult an attorney for advice. Click here to email askmark@marktepper.com to confer with Mark A. Tepper about Securities Fraud or telephone our office for your free consultation at (954) 961-0096). Attention Investors of Evergreen Ultra Short Opportunities FundLegal action is being taken against Evergreen Investment Management Co LLC, Evergreen Fixed Income Trust, Evergreen Investment Services, Inc., Evergreen Distributor, Inc., which is now owned by Wachovia Corporation for investments in Evergreen Ultra Short Opportunities Fund known by the following symbols: EUBAX, EUBBX, EUBCX, EUBIX, if you lost money in any of these investments, you should contact an attorney for advice. Call Mark A. Tepper, PA for a free consultation. If you purchased or held Bear Stearns stock, call us for a free consultation to evaluate your claim for damages. If you invested in Morgan Keegan income funds (see list below), managed by Fund Manager Jim Kelsoe, you have suffered large losses. These losses occurred because the funds had too much invested in risky collateralized mortgage, bond, sub prime and derivative securities which was not adequately disclosed. RMK High Income Fund (RMH) Mark Tepper will personally evaluate your claim and represent you in any claim filed. Mark A. Tepper, Esq., has represented numerous individuals who had, and currently have, securities fraud claims. If you want an experienced securities fraud lawyer, Click here to Contact Us to ask Mark Tepper About Securities Fraud or telephone our office for your free consultation at (954) 961-0096). IF YOU WISH TO DISCUSS YOUR INVESTMENT PROBLEM Contact Us to Ask Mark Tepper About Securities Fraud , phone us at (954) 961-0096 for a free consultation or email us directly at askmark@marktepper.com The following links will provide information to investors: Avoiding Scams, an article published by FINRA, outlines and explains the most common and widespread securities frauds: http://www.finra.org/Investors/ProtectYourself/InvestorAlerts/FraudsAndScams/P118010 TO SPEAK WITH ONE OF OUR STAFF MEMBERS, CALL (954) 961-0096 NOW! |
