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Claims against Union Bank of Switzerland (UBS) Puerto Rico’s closed-end bond practices continue to arise years after the initial crash of 2013. Since that time, the bank has paid tens of millions of dollars to both regulatory agencies and individual investors.
By now, those who have not personally used a ridesharing app have probably at least heard of one, such as Uber or Lyft. While these ridesharing programs are certainly popular among many people in New York, they are not without controversy. Lyft is currently dealing with securities litigation for allegedly making misleading claims.
A lawsuit alleging securities fraud was recently filed against Lyft. The suit claims that Lyft made misleading and inaccurate claims regarding its business when it filed to go public. The company also allegedly failed to disclose safety and labor issues that it knew about. Information regarding safety issues regarding more than 1,000 recalled bicycles was also left out according to the shareholder lawsuit.
The Financial Industry Regulatory Authority (FINRA) proposed a new rule earlier this month to restrict the actions of investment firms with a problematic history. Open for comment until July 1, Rule 4111's "Restricted Firm Obligations" aims to protect investors from activities by rogue brokers and firms that turn a blind eye to supervising them.
Brokerage firms previously cited for regulatory issues related failure to supervise or that employ a high number of repeat offenders - i.e. people deemed "red flags" by FINRA - could face new regulatory requirements if this rule is passed.
Investing is a great way to secure not only a steady source of income, but also a sturdy financial future. Most investors in New York and elsewhere are proud of the lives they have built for themselves through investing. Unfortunately, through no fault of your own, you might have found yourself in a less than ideal position. If you were the victim of illegal activity by an investment firm with regard to Puerto Rico, you need to find the right representation in Puerto Rico.
Like many other investors, you may have placed your trust in a broker or investment firm to make the right financial decisions for you. These firms are supposed to make careful, balanced decisions that do not take unnecessary risk, but sadly this is often not the case. Issues of securities fraud and unsuitable investments are becoming more and more problematic for investors like you who were just trying to make the best financial decisions possible.
Many people invest money into companies they believe will produce a profit. While you may be part of a group of angel investors, you might also choose to invest on your own. But regardless, you ought to protect your interests in the process.
Through an initial public offering (IPO), you can purchase stock in a company as they “go public.” And while numerous multibillion-dollar IPOs are on the horizon for 2019, do you know how to minimize your risks while investing?
Seeking guidance from a financial adviser is a common occurrence in the world of individual investing. These financial advisers are supposed to not only provide their experienced input, but should also respect the wishes of the investor when it comes to taking risky moves. Sadly, some of these advisers still make unsuitable investments that leave their New York clients financially devastated. Even worse, many do not have insurance to cover these losses.
Larger registered investment advisory firms -- RIAs -- purchase insurance for "errors and omissions." This insurance coverage pays out to the RIA's investment clients when the advisers make unsuitable investments, mistakes or otherwise unwise decisions. RIAs are not required to carry this insurance, though. This means that many individual investors could be left without protection should their adviser make a bad move.
You need to be able to trust your financial advisor to manage the money that will allow you to retire and your family to live comfortably. This makes selecting the correct advisor critical. Choosing the wrong person for the job could have significant consequences.
Nassau County officials arrested a financial advisor in June 2018 for scamming elderly clients out of millions of dollars. Sadly, it’s horror stories like this that make life more difficult for advisors who conduct business ethically with their clients’ best interest in mind.
Elon Musk has made national and international headlines for his innovative electric car company, Tesla. While many drivers in New York are familiar with the types of vehicles manufactured by the company, some might be surprised to learn that its founder and CEO is facing criminal charges. Accused of violating a securities fraud agreement, Musk could have to fork out a significant fine.
On Feb. 19, 2019, Musk tweeted that this year Tesla would manufacture 500,000 vehicles. However, at the time that he wrote that tweet Tesla was slated to only produce 400,000 vehicles by the end of 2019. A few hours later he sent out another tweet stating that he meant the company would produce half a million vehicles over the period of 12 months, but the damage was apparently already done.
For some people, criminal charges can come as an unexpected interruption in their lives. Unlike other types of charges that might be self-evident, allegations of securities fraud can be somewhat more confusing. New York defendants who are facing securities fraud charges and want to know more about these types of allegations should take some of the following into account.
In some instances, securities fraud involves a person making a false statement or claim about a certain company that leads others to make financial decisions. These false statements could be in relation to a company's stock value or other financial indicators. However, securities fraud can also cover insider trading. When company executives, board members or other people with access to information that is not yet public trade or sell stocks, it is generally considered insider trading.
International speaker, trainer and author, John Maxwell teaches business leaders that there is no such thing as business ethics. The underlying premise is that you have ethics, or you don’t; this will be reflected in the manner in which you run your business.
In light of recent allegations relating to Roundup causing cancer, you might wonder whether corporate officers at Monsanto, the makers of the herbicide, truly believe their product is safe. Many would say the company is more concerned with selling their product. However, recently held accountable for malfeasance, Monsanto’s situation may make you reflect on corporate wrongdoing in general.
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