Displaying 26 results
Bankrupt GWG bonds not right for anyone: Finra arbitrator
By 2020, 'GWG had shown years of losses and large negative cash flows,' a securities arbitrator writes.
Arete Wealth pays out $1.1M in arb claims to start 2024
"We have a handful of open cases against Arete Wealth, and some involve Center Street, as well," says a plaintiff's attorney.
Nashville B-D that sold GWG bonds closing down
The securities industry has a long, sad history of firms going out of business after a product like GWG bonds fails.
GWG bond debacle reveals limits in investor protection
Titan Securities is already among the departed. It's not footing the bill for its own funeral.
Clients win another GWG bond claim, this time against B-D
"We don’t agree with the decision but, with Finra arbitration, there is no appeal," says William H. McCance, president of Ages Financial Services.
Broker, executive hit with $1M arbitration loss over GWG bonds
'The financial advisor recommended he put the entire amount in GWG L bonds,' the claimant's attorney says.
Broker who sold GWG bonds faces deluge of investor complaints
'I intend to vigorously defend myself against these claims,' broker Tony Barouti states.
Closing broker-dealer’s financials ‘were horrible’
Arizona-based Arque Capital Ltd. sold bonds issued by bankrupt GWG Holdings Inc.
California B-D that sold GWG bonds files for bankruptcy
Irvine-based JRL Capital Corp. reported total assets of $43,000 and total investor claims against the firm of $2.5 million.
Philly broker in hot water, again, over alt sales
Austin Dutton last week lost an industry arbitration claim of $43,645 to a client related to sales of GWG bonds.
GWG bondholders tee up lawsuits against broker-dealers, executives
GWG was a 'classic Ponzi scheme,' according to a group representing investors.
GWG chiefs bolt in middle of bankruptcy
Over the past 12 months, the company's shares have fallen from a high of $10.55 to Monday's price of $1.03.
Lead broker-dealer seller of GWG L bonds sues its insurers
'No one is going to want to settle with broker-dealers over GWG claims until the bankruptcy is resolved,' an attorney said about the lawsuit filed by Emerson Equity.
SEC takes first substantive Reg BI enforcement action
Investor advocates differ on whether the case against brokers selling risky bonds — L bonds offered by GWG Holdings — fulfills Reg BI's investor-protection promises.
Wholesalers at B-D that sold GWG bonds jump ship
When wholesalers leave a broker-dealer en masse, it's a signal that the firm's efforts to sell more product and generate more revenue could be greatly hampered.
Reps at firm that sold GWG bonds wanted more exposure to risky alts: B-D execs
Bill Hamm of IFP Securities said the SEC started its inquiries last year into broker-dealers that had sold GWG bonds.
Barred broker latest to be focus of a GWG bond complaint
Marc Korsch, who was booted from the securities industry last year, has a staggering 33 disclosure items on his BrokerCheck report.
Lead broker-dealer seller of GWG bonds reports potential trouble
In its annual audited financial statement, Emerson Equity reported that problems related to an unnamed offering potentially could harm the firm.
Broker picked wrong time to boost bet on GWG bonds
Broker-dealers kept selling GWG's life settlement-backed bonds for years despite all the accounting and reporting static coming from the company.
LA broker at lead firm that sold GWG bonds hit with complaints
Tony Barouti, a broker registered with Emerson Equity, faces two investor complaints alleging $1.37 million in damages, according to his BrokerCheck profile.
- 1
- 2
