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Articles Posted in FINRA Arbitration

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Aegis Capital Corporation (CRD#15007) has reached an agreement with the US Securities and Exchange Commission (SEC) regarding the recommendations and sales of a complex and risky investment called variable interest rate structured products, or VRSP. The SEC filed a cease-and-desist order on July 28, 2022. In response, Aegis submitted an offer of settlement. The action is the result of Aegis representatives making highly unsuitable recommendations to customers in two of their branch offices: Melville, NY, and Boca Raton, Fl. In both cases, the company’s supervisory procedures were not properly followed in relation to these recommendations to retail customers as well as material misstatements and omissions. Institutional customers were not affected. VRSPs These high-risk, illiquid investments are known as “principal at risk” investments because investors may or may not lose their principal. They have 15-year maturity periods and are not traded on any public market. Investors may have to keep them the entire 15-year period, since they are unlikely to be able to sell them on a secondary market.Aegis Capital Corporation (CRD#15007) has reached an agreement with the US Securities and Exchange Commission (SEC) regarding the recommendations and sales of a complex and risky investment called variable interest rate structured products, or VRSP. The SEC filed a cease-and-desist order on July 28, 2022. In response, Aegis submitted an offer of settlement. Continue reading ›

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FiverrLossesSmallIn April 2022, when GWG Holdings, Inc. filed for a Chapter 11 bankruptcy, it left 27,000 investors wondering if the “L Bonds” they were holding were now worthless. If you’re one of those investors, you may be able to recover some of your losses, but you should get an attorney who specializes in recovering clients’ investments to help you. Continue reading ›

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GWG Investors around the nation are still reeling from the recent news that GWG Holdings, Inc. and some of its subsidiaries filed for a Chapter 11 bankruptcy. GWG, a financial services company, owes $1.6 billion in “L Bonds,” financial instruments that pooled the money of investors to buy life insurance policies on the secondary market, with promises that the investors would make a profit from gains made after policyholders had died. An estimated 27,000 investors invested with GWG—for an average of $45,000 each. But all is not necessarily lost, as investors pursue various ways to recover their investments including claims against the selling brokerage firms.GWG Investors around the nation are still reeling from the recent news that GWG Holdings, Inc. and some of its subsidiaries filed for a Chapter 11 bankruptcy. GWG, a financial services company, owes $1.6 billion in “L Bonds,” financial instruments that pooled the money of investors to buy life insurance policies on the secondary market, with promises that the investors would make a profit from gains made after policyholders had died. Continue reading ›

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Securitiesfraudattorneys.comSecuritiesfraudattorneys.com is pursuing investor claims relating to the recent Chapter 11 bankruptcy filing by GWG Holdings, Inc. and some of its subsidiaries. With its web presence as Securitiesfraudattorneys.com, Silver Law Group’s attorneys are knowledgeable about both the law and facts necessary to help their clients recover their investments. GWG, a financial services company, created “L Bonds,” financial instruments that pooled the money of investors to buy life insurance policies on the secondary market. Investors believed that they would profit off of the policies once policyholders had died. But GWG has now filed bankruptcy and said it owes $1.6 billion in the “L Bonds.” An estimated 27,000 investors invested with GWG—for an average of $45,000 each.  However, some investors lost substantially more and some brokers overconcentrated their clients in the bonds. is pursuing investor claims relating to the recent Chapter 11 bankruptcy filing by GWG Holdings, Inc. and some of its subsidiaries. With its web presence as Securitiesfraudattorneys.com, Silver Law Group’s attorneys are knowledgeable about both the law and facts necessary to help their clients recover their investments. Continue reading ›

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If you are one of the estimated 27,000 investors who purchased L Bonds from GWG, you may be unsure of how to respond to the news that GWG Holdings, Inc. and some of its subsidiaries recently filed for a Chapter 11 bankruptcy. The company is estimated to have $1.6 billion in debt. As an investor, you have options for trying to recover your investment, and it’s important to consider which are the most likely to help you recoup your investment. While L Bond investors will be included as creditors in the Chapter 11 proceeding, it’s unlikely that this will result in a substantial repayment of your investment. Instead, you may receive pennies-on-the-dollar. Therefore, your best bet for recovery may be through a Financial Industry Regulatory Authority (FINRA) arbitration. FINRA is a government-authorized not-for-profit organization that oversees U.S. broker-dealers. Investors can request either mediation or arbitration to resolve a dispute between the investor and a broker-dealer or their firm. FINRA proceedings tend to be resolved much more quickly, and at less expense, than traditional lawsuits. If you are one of the estimated 27,000 investors who purchased L Bonds from GWG, you may be unsure of how to respond to the news that GWG Holdings, Inc. and some of its subsidiaries recently filed for a Chapter 11 bankruptcy. The company is estimated to have $1.6 billion in debt. As an investor, you have options for trying to recover your investment, and it’s important to consider which are the most likely to help you recoup your investment. Continue reading ›

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Silver Law Group represents investors who are facing financial losses due to the recent Chapter 11 bankruptcy filing by GWG Holdings, Inc. and some of its subsidiaries. Silver Law’s clients include those who purchased GWG’s “L Bonds,” financial instruments that GWG had created and were then sold by unscrupulous broker-dealers. GWG was pooling investors’ money to buy life insurance policies on the secondary market, with GWG promising that investors—buyers of the L Bonds—would see a profit when the policyholders died. However, even before GWG’s bankruptcy, the Securities and Exchange Commission (SEC) was rumored to be investigating the company. Silver Law Group represents clients in petitions with Financial Industry Regulatory Authority (FINRA), a government-authorized not-for-profit organization that oversees U.S. broker-dealers. Silver Law is also requesting arbitrations to resolve disputes between its clients and the broker-dealers who sold the GWG investments.Silver Law Group represents investors who are facing financial losses due to the recent Chapter 11 bankruptcy filing by GWG Holdings, Inc. and some of its subsidiaries. Silver Law’s clients include those who purchased GWG’s “L Bonds,” financial instruments that GWG had created and were then sold by unscrupulous broker-dealers. Continue reading ›

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A recent Wall Street Journal article details the process by which GWG Holdings’ founders and a board director used hundreds of millions of dollars paid by GWG L Bonds investors to fund their own startups and kept their startups away from investors. Silver Law Group represents GWG L Bonds investors in FINRA arbitration claims to recover their investment losses. Contact us at 800-975-4345 for a no-cost, confidential consultation. GWG Sells $1.3 Billion In L Bonds GWG Holdings is a Dallas, TX-based financial services company that offered alternative investments and life insurance. The company was founded in 2006 by Jon and Steven Sabes. The company created their L Bond in 2012. Borrowed money was used to buy life insurance policies from people who wanted cash, and L Bond investor money was used to pay premiums and buy new policies. GWG would collect the payout when the policyholder died and pay investors a portion of the profits, investors were told.A recent Wall Street Journal article details the process by which GWG Holdings’ founders and a board director used hundreds of millions of dollars paid by GWG L Bonds investors to fund their own startups and kept their startups away from investors.

Silver Law Group represents GWG L Bonds investors in FINRA arbitration claims to recover their investment losses. Contact us at 800-975-4345 for a no-cost, confidential consultation. Continue reading ›

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Did you lose money investing in GWG Holdings Inc. L Bonds? Our securities and investment fraud attorneys are representing investors on a contingency fee basis to help recover our clients losses.  Read more about our experience handling these types of cases at securitiesfraudattorneys.com.   Scott Silver, Esq, is the chairman of the securities fraud group of the American Association of Justice and a frequent author and speaker on investment fraud matters. Silver Law Group is representing investors in claims against the broker-dealers who sold GWG L Bonds to investors. Claims to recover investment losses allege that the broker-dealers failed to conduct adequate due diligence on the investment, among other causes. Our securities fraud attorneys have already filed multiple FINRA arbitration claims. If you're an investor who believed that the L bonds would be a benefit to your portfolio, you're not alone. Unfortunately, the highly touted L bonds Were neither publicly traded nor liquid, and highly risky.Did you lose money investing in GWG Holdings Inc. L Bonds? Our securities and investment fraud attorneys are representing investors on a contingency fee basis to help recover our clients losses. Read more about our experience handling these types of cases at securitiesfraudattorneys.com. Scott Silver, Esq, is the chairman of the securities fraud group of the American Association of Justice and a frequent author and speaker on investment fraud matters. Continue reading ›

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Silver Law Group is representing GWG Holding L Bonds investors.  GWG stopped paying dividends in January, 2022. GWG then suspended sales of the L Bonds. Following the company’s Chapter 11 bankruptcy in April, investors are wondering if they will be able to recover any of their money from this company. GWG’s L Bonds were very risky investments that the company should have only recommended to sophisticated institutional investors that had a high tolerance for risk. Many of the L Bond investors were retirees looking for a stable and secure income source. The L Bonds were totally unsuitable for retirees with a more conservative investment objective who were interested in their principal being kept safe. Unfortunately, these investors were sold a risky, illiquid investment by brokers and their firms who failed in due diligence before recommending these L Bonds. What An Investor Can Do to Recover GWG Losses While you may recover something from GWG’s bankruptcy, it’s a long wait and a long shot that most of the principal will be recovered. The company’s Chapter 11 is a reorganization, and it may be many months before they release any information about what happens next.Silver Law Group is representing GWG Holdings L Bonds investors. GWG stopped paying dividends in January, 2022. GWG then suspended sales of the L Bonds. Following the company’s Chapter 11 bankruptcy in April, investors are wondering if they will be able to recover any of their money from this company. Continue reading ›

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According to FINRA Disciplinary actions for May 2022, the following individuals were barred from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules:

NAME FORMER EMPLOYERS
  Maria Acevedo   Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Alicia Chester   BBVA Securities Inc.
  Anthony DiDonna   Equitable Advisors, LLC
  Travis Eiland   HD Vest Insurance Services
  HD Vest Investment Services
  Jeremy Fortner   Wells Fargo Clearing Services, LLC
  JP Morgan Chase Securities, LLC
  Marc Korsch   Arkadios Capital
  Centaurus Financial, Inc.
  Scott Levine   Ascendiant Capital Markets, LLC
  BMA Securities
  Mario Martinez   Mutual of Omaha Investors Services, Inc.
  AIG Capital Services, Inc
  Jun Ouyang   Morgan Stanley & Co., LLC
  Stephen Wenske   Edward Jones

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